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431 N Azalea Avenue Ontario, CA 91762

3 Beds 1 Baths 925 sqft Built 1954

$429,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $463.78
  • 3 Days on Market
  • MLS # : CV21004425
  • Updated Date : 01/08/2021 at 16:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 925 sqft
  • Baths : 1 full
Listing Agent

Mainstreet Realtors

Listing Agent's Description

Spacious Corner lot charming starter home for first time home buyer, featuring 3 bedrooms and 1 bathroom in Ontario. The property has a great size yard with endless possibilities, possible pool? Freshly painted exterior and large new slab of cement as well as grass area for the children. Enjoy the Beautiful Mountain View! This property is Centrally located to schools, shopping and transportation. This cozy property is waiting for a family to come and make it their own.

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: 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
Elderberry Elementary School Primary Regular 837 30 6
Elderberry Elementary School Middle Regular 837 30 6
Montclair High School High Regular 3,034 117 6

Elderberry Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 30
6
GreatSchools Rating

Elderberry Elementary School

  • Education Level: Middle
  • # of students: 837
  • # of teachers: 30
6
GreatSchools Rating

Montclair High School

  • Education Level: High
  • # of students: 3,034
  • # of teachers: 117
6
GreatSchools Rating
 

$386,100$471,900$429,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,490
Property Tax -$395
Property Insurance -$50
Property Management Fees -$109
CASH FLOW
-$193

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.

$429,000

PROJECTED PRICE

$1,850

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,490

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$11,303

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9203$2,2004$2,250
$2,250
RENT COMPS ANALYSIS
  • 431 N Azalea Avenue Ontario, CA 1
    • 3 beds 1 baths ∙ 925 Sqft ∙ Built 1954 3 beds 1 baths ∙ 925 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $2.00
    •  
  • 839 W El Morado Court Ontario, CA 2
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.54
    •  
  • 720 Cypress Avenue N Ontario, CA 3
    • 3 beds 1 baths ∙ 1,206 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,206 Sqft ∙ Built 1951
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.82
    •  
  • 9961 Poulsen Avenue Montclair, CA 4
    • 3 beds 1 baths ∙ 1,266 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,266 Sqft ∙ Built 1955
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.78
    •  
PROPERTY LISTING DETAILS
Marcela Herrera
Mainstreet Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21004425
Last Updated: 01/08/2021
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