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

4742 Clair Street Ontario, CA 91762

3 Beds 2 Baths 1,648 sqft Built 1961

$560,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $339.81
  • 7 Days on Market
  • MLS # : CV20241188
  • Updated Date : 11/16/2020 at 19:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

Elite Premier Properties

Listing Agent's Description

TURNKEY PROPERTY!!! In the city of Ontario! This beautiful fully rehabbed property is centrally positioned between the 10 and 60 freeway for easy access. The placement of this property is adjacent to the cities of Montclair and Chino. NEW EVERYTHING! NEW Kitchen, NEW Recess Lights, NEW Paint (Inside and Out), NEW Windows, NEW Laminate Flooring, NEW Doors throughout the house, NEW Carpet in rooms, NEW Fixtures, NEW Bathroom tile floors, NEW Showers, NEW Tub, NEW Garage door, NEW EVERYTHING! The property comes with a HUGE bonus room that can be used as either a bedroom, man cave, game room, or possible opportunity to rent out. Also, comes with a covered patio perfect for this Southern California weather and ideal space for family gatherings! Not to mention many fruit-bearing trees and gorgeous plants to make it really feel like your new home! Please contact Listing Agent for any questions or interests, this property will not last long!!! Property is for sale, not for lease do not fall for scams.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Montclair

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k491k

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

Neighborhood: Montclair

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900200021002200Rent in $9112201

* 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
Howard Elementary School Primary Regular 644 24 6
Howard Elementary School Middle Regular 644 24 6
Montclair High School High Regular 3,034 117 6

Howard Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 24
6
GreatSchools Rating

Howard Elementary School

  • Education Level: Middle
  • # of students: 644
  • # of teachers: 24
6
GreatSchools Rating

Montclair High School

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

$504,000$616,000$560,000

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 -$2,066
Property Tax -$516
Property Insurance -$67
Property Management Fees -$126
CASH FLOW
-$645

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.

$560,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,312

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
  • $1.29

    LIST RENT PER SQFT
  • $2,274

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,030
1$2,0302$2,1003$2,1304$2,3005$2,550
$2,550
RENT COMPS ANALYSIS
  • 4742 Clair Street Ontario, CA 3
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.29
    •  
  • 11054 Wesley Avenue Montclair, CA 1
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1981
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.23
    •  
  • 929 S. Benson Ave Ontario, CA 2
    • 3 beds 1 baths ∙ 1,397 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,397 Sqft ∙ Built 1958
    property image
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.50
    •  
  • 11936 Monte Vista Avenue Chino, CA 4
    • 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1972
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.37
    •  
  • 12059 Dunlap Place Chino, CA 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1972
    property image
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.42
    •  
PROPERTY LISTING DETAILS
Daniel Valdivia
Elite Premier Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20241188
Last Updated: 11/16/2020
BESbswy