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3841 Colorado River Road Ontario, CA 91761

3 Beds 2 Baths 1,575 sqft Built 1984

$485,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $307.94
  • 7 Days on Market
  • MLS # : DW21025545
  • Updated Date : 02/12/2021 at 16:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,575 sqft
  • Baths : 2 full
Listing Agent

Century 21 Realty Masters

Listing Agent's Description

This beautiful, well cared for home is located in a quiet neighborhood of Creekside Village Community. Easily accessible to major Malls, Freeways and Club House Amenities ... just in time for you to enjoy the summer months and nights! This lovely home features 3 Bedrooms / 2 Full Baths, with central air & heating. Enjoy the open living room and dining room combo with plenty of windows for natural light. Family room is perfect for guest with a lovely Fireplace. Beautiful large Master Bedroom with Cathedral Ceilings, Master bath with dual sinks, shower and bathtub, an extra bonus room off the bedroom (check permits) currently used as office. The home features a nice slab-patio off of the family room, with sliding glass doors. A must see ...

SEE MORE

MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Creekside

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Creekside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10762496

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Creek View Elementary School Primary Regular 629 23 5
Grace Yokley Middle School Middle Regular 928 33 6
Colony High School High Regular 2,079 84 6

Creek View Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 23
5
GreatSchools Rating

Grace Yokley Middle School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 33
6
GreatSchools Rating

Colony High School

  • Education Level: High
  • # of students: 2,079
  • # of teachers: 84
6
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,685
Property Tax -$424
Property Insurance -$65
HOA -$72
Property Management Fees -$129
CASH FLOW
-$195

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$485,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$14,962

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,180

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $2,355

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1753$2,1804$2,2005$2,550
$2,550
RENT COMPS ANALYSIS
  • 3841 Colorado River Road Ontario, CA 3
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.38
    •  
  • 2840 Oak Creek Drive Ontario, CA 1
    • 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1984
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.43
    •  
  • 3119 E Milano U-e Ontario, CA 2
    • 3 beds 3 baths ∙ 1,449 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,449 Sqft ∙ Built 1989
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.50
    •  
  • 3913 Yuba River Drive Ontario, CA 4
    • 3 beds 3 baths ∙ 1,401 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,401 Sqft ∙ Built 1987
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.57
    •  
  • 2908 Laureltree Drive Ontario, CA 5
    • 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1987
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.48
    •  
PROPERTY LISTING DETAILS
Rodrigo Melgoza
Century 21 Realty Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21025545
Last Updated: 02/12/2021
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