Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

402 E 5th Street Ontario, CA 91764

3 Beds 3 Baths 1,675 sqft Built 1950

$579,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $345.67
  • 3 Days on Market
  • MLS # : 21674772
  • Updated Date : 01/01/2021 at 16:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,675 sqft
  • Baths : 3 full
Listing Agent

Five Heights Realty Corp.

Listing Agent's Description

1950's Gem - on a charming Ontario Street. This 3 bd / 3 ba modern-style home with a remodeled open kitchen, original hardwood floors, service-porch, detached 2-car garage, and large backyard is a must-see. A well-kept home with unique features and great potential to take this property to the next-level, also includes a 60+ year old Avocado tree, great healthy citrus and olive trees. The Master Bedroom has a newer wall closet on entire east-facing wall. Updates completed in last 15 years include: Roof, Windows in bathrooms and bedrooms, Copper Pipes, New Electrical with updated Kitchen, Whole House Fan, and new Insulation. Seller will make absolutely no additional repairs or upgrades. Record shows the home as a 3 bd / 2ba, and Owners are unaware if the 3rd bathroom or additions were ever permitted. Buyer and Selling agent to satisfy themselves regarding any permitting, future property development, and any and all details related to the property. Check Out Virtual Tour.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ontario

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k477k

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

Neighborhood: Ontario

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112126

* 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
Edison Elementary School Primary Regular 861 30 8
Edison Elementary School Middle Regular 861 30 8
Chaffey High School High Regular 3,530 138 4

Edison Elementary School

  • Education Level: Primary
  • # of students: 861
  • # of teachers: 30
8
GreatSchools Rating

Edison Elementary School

  • Education Level: Middle
  • # of students: 861
  • # of teachers: 30
8
GreatSchools Rating

Chaffey High School

  • Education Level: High
  • # of students: 3,530
  • # of teachers: 138
4
GreatSchools Rating
 

$521,100$636,900$579,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,136
Property Tax -$533
Property Insurance -$68
Property Management Fees -$148
CASH FLOW
-$384

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.

$579,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$12,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $2,580

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,3003$2,3504$2,5005$2,750
$2,750
RENT COMPS ANALYSIS
  • 402 E 5th Street Ontario, CA 4
    • 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 1950 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.49
    •  
  • 798 E 7th Street Upland, CA 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1950
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.48
    •  
  • 1347 Deodar Ontario, CA 2
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.49
    •  
  • 537 W J Street Ontario, CA 3
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.61
    •  
  • 375 S San Antonio Avenue Upland, CA 5
    • 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 1962
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.58
    •  
PROPERTY LISTING DETAILS
Corinne Tapia Babcock
Five Heights Realty Corp.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21674772
Last Updated: 01/01/2021
BESbswy