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PROPERTY INFO
FACTS
- Single Family
- Built In 2017
- Price/Sqft : $298.46
- 5 Days on Market
- MLS # : TR21148035
- Updated Date : 07/11/2021 at 12:50
CONSTRUCTION
- Beds : 3
- Floor Size : 2,141 sqft
- Baths : 2 full , 1 half
Listing Agent
Irn Realty
Listing Agent's Description
Stunning two-story DETACHED home tucked away in the highly desired Park Place community. Enter through the front door into a formal entry. This bright wide-open floorplan concept home is highly upgraded with laminated wooden floor. The spacious kitchen features white cabinetry, stainless steel appliances, quartz countertops, gorgeous subway tile backsplash, recessed lightings, and an oversized quartz island with bar seating. Dining room has glass slider doors to the backyard. The backyard is perfect for entertaining with plenty of seating space. As you walk upstairs, you will find the luxurious master bedroom has an en-suite bathroom, spacious walk-in shower, large bathtub, double sinks with quartz countertops, and large walk in closet. Two spacious secondary bedrooms share one bathroom. Upstairs laundry room with built-in storage. Association amenities includes the 24hours Gym, basketball courts, pools, spa, BBQ grill, sport court, club house, movie theater and kids playground. Conveniently located near Ontario shopping center, restaurants and airport. Don’t miss this great opportunity!
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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 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 | $2,670 |
| EXPENSES | Loan Payment | -$2,219 |
| Property Tax | -$565 | |
| Property Insurance | -$79 | |
| HOA | -$128 | |
| Property Management Fees | -$158 | |
|
CASH FLOW
-$479
|
||
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.
$639,000
PROJECTED PRICE
$2,670
PROJECTED RENT
0.42%
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
$175,085
LOAN DETAILS
$2,219
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $159,750 |
| Loan Amount | $479,250 |
1.75
YEARS SAVED
$7,491
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,670
LIST RENT -
$1.25
LIST RENT PER SQFT
-
$2,676
COMP ESTIMATED VALUE -
$1.25
COMP AVG. RENT PER SQFT
Comps Range
-
5027 S Centennial Circle Ontario, CA 3
- 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2017
- Rent
- Rent Per SQFT
- $2,670
- $1.25
-
5052 S Heritage Paseo Ontario, CA 1
- 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2016
LEASED 08/30/20- Rent
- Rent Per SQFT
- $2,550
- $1.19
-
4967 S Tangerine Way Ontario, CA 2
- 3 beds 3 baths ∙ 2,214 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,214 Sqft ∙ Built 2018
LEASED 08/12/20- Rent
- Rent Per SQFT
- $2,650
- $1.20
-
2849 E Clementine Drive Ontario, CA 4
- 4 beds 3 baths ∙ 2,214 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,214 Sqft ∙ Built 2018
LEASED 09/20/20- Rent
- Rent Per SQFT
- $2,800
- $1.26
-
5072 S Heritage Paseo Ontario, CA 5
- 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2016
LEASED 06/12/21- Rent
- Rent Per SQFT
- $2,900
- $1.35
PROPERTY LISTING DETAILS
Irn Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR21148035
Last Updated: 07/11/2021
