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5063 S Heritage Paseo Ontario, CA 91762

4 Beds 3 Baths 2,479 sqft Built 2016

INVESTimate

$525,000

List Price

$2,550

$2,300 - $2,800

Rent Est.

$570,675  ( +8.70%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $211.78
  • 8 Days on Market
  • MLS # : CV20169528
  • Updated Date : 08/19/2020 at 11:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,479 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max 2000 Realty

Listing Agent's Description

**Investors Delight**Gorgeous Single Family Home in Ontario build by KB home-Hadleigh at Park Place. **Beautiful Park View**Features 4 bedroom and 3 bath with 2467sqft. 1 bedroom and 1 bath down stair. Front courtyard leads you to a high vaulted ceilings, Spacious living room, formal dining, kitchen with granite counter top, cabinet, and Pantry. Open and Airy. The sliding door to the private patio which is great for BBQ'S. The stairway leads you upstairs to Master bedroom with a huge walk-in closet and a treat which can be another room. Huge loft. Other 2 bedroom and guest full bath. Individual Laundry room. Central A/C unit. Community Park House size it's over 10,000 sqft include: Movie theater, JR Olympic Pool and Spa, Fitness center with many TV on the wall, Library, Game rooms, Party room, Kid play room, Reading room, Conference room, Catering Kitchen, Business Center, Recreation room, Billiards & Card room, basketball court, tennis court, and pet friendly playground. Convenience location to Ontario Mills, Restaurant, Shopping center, Victoria Gardens. EZ to Freeway 10, 60, 15, and Metrolink station. Less then 20 minutes to Ontario International Airport and 99 Ranch Market. Excellent move-in condition.

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 Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

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

Neighborhood: Ontario Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10762618

* 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
Ranch View Elementary School Primary Regular 586 21 6
Grace Yokley Middle School Middle Regular 928 33 6
Colony High School High Regular 2,079 84 6

Ranch View Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 21
6
GreatSchools Rating

Grace Yokley Middle School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 33
6
GreatSchools Rating

Colony High School

  • Education Level: High
  • # of students: 2,079
  • # of teachers: 84
6
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,937
Property Tax -$464
Property Insurance -$87
HOA -$139
Property Management Fees -$150
CASH FLOW
-$228

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.

$525,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.70%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$19,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,690

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6503$2,7004$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 5063 S Heritage Paseo Ontario, 1
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.03
    •  
  • 4984 S Rosemary Way Ontario, 2
    • 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2017
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.06
    •  
  • 6004 Springcrest Street Eastvale, 3
    • 4 beds 3 baths ∙ 2,579 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,579 Sqft ∙ Built 2004
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.05
    •  
  • 4755 S Garden Gate Lane Ontario, 4
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2018
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.12
    •  
  • 5043 S Heritage Paseo Ontario, 5
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2015
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jonathan Lin
Re/max 2000 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20169528
Last Updated: 08/19/2020
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