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3860 Owens River Lane Ontario, CA 91761

3 Beds 2 Baths 1,137 sqft Built 1987

$475,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $417.77
  • 4 Days on Market
  • MLS # : CV21023627
  • Updated Date : 02/04/2021 at 20:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,137 sqft
  • Baths : 2 full
Listing Agent

Cal American Homes And Realty

Listing Agent's Description

LOCATED IN THE SOUGHT OUT NEIGHBORHOOD OF EAST CREEKSIDE IN ONTARIO! THIS LOVELY 3 BEDROOM AND 2 BATH HOME WILL NOT LAST! AS YOU WALK UP TO THE HOME YOU ARE GREETED WITH A LOVELY PATHWAY LEADING UP TO THE FRONT DOOR. THE CHARMING LIVING ROOM CONSISTS OF HIGH VAULTED CEILINGS AND RECESS LIGHTING. NOT TO MENTION A COZY FIREPLACE. THE OPEN CONCEPT KITCHEN AND WONDERFUL CABINET SPACE ADDS SO MUCH CHARM INCLUDING UPGRADED QUARTZ COUNTERTOPS AND SELF CLOSING CABINET DOORS AND DRAWERS! EACH BEDROOM IS SIZABLE WITH A HUGE AMOUNT OF CLOSET SPACE! IN THE MASTER THERE ARE HIS AND HER CLOSETS NOT TO MENTION AN UPGRADED MASTER BATHROOM WITH A WALK IN SHOWER! THERE IS ALSO A BRAND NEW AC AND FURNANCE UNIT! CREEKSIDE HAS POOLS, PLAYGROUNDS, BEAUTIFUL WALKING TRAILS, AND 24HR PATROL! ALSO CONVENIENTLY NEXT TO THE ELEMENTARY, HIGHSCHOOL, DAYCARE, AND 60 FREEWAY! SWING BY AND MAKE AN OFFER TODAY!

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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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,650
Property Tax -$416
Property Insurance -$55
HOA -$72
Property Management Fees -$126
CASH FLOW
-$188

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.

$475,000

PROJECTED PRICE

$2,130

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$14,922

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $1,762

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,1503$2,1754$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3860 Owens River Lane Ontario, CA 1
    • 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.87
    •  
  • 2784 E Oak Hill Drive E Ontario, CA 2
    • 4 beds 2 baths ∙ 1,414 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,414 Sqft ∙ Built 1994
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.52
    •  
  • 3119 E Milano U-e Ontario, CA 3
    • 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
    •  
  • 3730 Santiago Creek Way Ontario, CA 5
    • 3 beds 3 baths ∙ 1,428 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,428 Sqft ∙ Built 1986
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.61
    •  
PROPERTY LISTING DETAILS
Cecilia Alvarez
Cal American Homes And Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21023627
Last Updated: 02/04/2021
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