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PROPERTY INFO
FACTS
- Single Family
- Built In 2018
- Price/Sqft : $258.40
- 4 Days on Market
- MLS # : IV20242400
- Updated Date : 11/19/2020 at 19:16
CONSTRUCTION
- Beds : 3
- Floor Size : 1,993 sqft
- Baths : 3 full
Listing Agent
Redfin
Listing Agent's Description
Built in 2018 – better than new!! This home is located in the sought after community of Park Place Ontario in Ontario Ranch. Built with the great room concept, this well-maintained home features water-resistant laminate flooring throughout the downstairs area. The kitchen is set up with a large island, granite countertops, white shaker cabinets, subway style backsplash, and tons of storage space. There is a downstairs bedroom as well as a full bathroom, perfect for guests. Upstairs you find the generously sized primary bedroom and bathroom with a garden tub and separate walk-in shower, double sinks, and walk-in closet. There’s also a loft, hallway bathroom, laundry room, and additional bedroom. The home has high ceilings and doorways throughout. No one located in the front, instead, you have a view of a small greenbelt and park. Partial mountain view and walking distance to a large park. A new elementary school is confirmed for Fall 2021 and is less than a 5-minute walk. HOA includes gym, tennis court, pool, full-size theater, party rooms, conference room, basketball court, business rooms, dog parks, and game rooms. Home has smart devices including Nest thermostat on each floor, keyless smart door entry, keyless garage opener, energy-efficient tankless water heater, and Skybell smart video doorbell. Close to Eastvale Shopping Plaza and just minutes away from freeways and the Ontario International Airport. Don’t wait and call for a private tour of this home!
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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: Ontario Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ontario Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,390 |
| EXPENSES | Loan Payment | -$1,900 |
| Property Tax | -$452 | |
| Property Insurance | -$75 | |
| HOA | -$176 | |
| Property Management Fees | -$141 | |
|
CASH FLOW
-$354
|
||
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.
$515,000
PROJECTED PRICE
$2,390
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$142,225
LOAN DETAILS
$1,900
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $128,750 |
| Loan Amount | $386,250 |
2.25
YEARS SAVED
$9,905
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,390
LIST RENT -
$1.2
LIST RENT PER SQFT
-
$2,387
COMP ESTIMATED VALUE -
$1.2
COMP AVG. RENT PER SQFT
Comps Range
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4883 S Monarch Place Ontario, CA 1
- 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2018
- Rent
- Rent Per SQFT
- $2,390
- $1.20
-
5011 S Centennial Circle Ontario, CA 2
- 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2017
LEASED 05/01/20- Rent
- Rent Per SQFT
- $2,450
- $1.14
-
5964 Golden Nectar Court Eastvale, CA 3
- 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003
LEASED 12/11/19- Rent
- Rent Per SQFT
- $2,500
- $1.23
-
5858 Milana Drive Eastvale, CA 4
- 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003
LEASED 03/16/20- Rent
- Rent Per SQFT
- $2,500
- $1.23
-
5038 S Mccleve Way E Ontario, CA 5
- 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2016
LEASED 05/12/20- Rent
- Rent Per SQFT
- $2,550
- $1.19
PROPERTY LISTING DETAILS
Redfin
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20242400
Last Updated: 11/19/2020
