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520 E D Street Ontario, CA 91764

3 Beds 1 Baths 1,053 sqft Built 1923

$425,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1923
  • Price/Sqft : $403.61
  • 5 Days on Market
  • MLS # : TR21016169
  • Updated Date : 01/27/2021 at 15:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,053 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Premier Prop

Listing Agent's Description

Welcome to this lovely historical home in the city of Ontario. Single story home with large front yard and porch, perfect place for you to sip your favorite drink while enjoying the beautiful California weather. Seller has upgraded this historical home with all the modern conveniences. Newer PEX plumbing line installed along with newer electrical wires. Central AC and Heat installed for your comfort. Don't worry about the electric bill since seller also installed New Roof 2-3 years ago along with a Fully Paid Solar Panel system. Crank up that AC during those hot summer days without worry. Updated large Kitchen with Granite Counter Top and Tile flooring Through Out the Home. Everything in place for you to move in. There is a separate detached garage and low maintenance back yard which is mostly concreted already. With close to 6500Sqft Lot size, there is even a possibility of an ADU unit being built for your In-Laws or even extra income. Within One Block from the City Hall and only Two Blocks from shopping, The location can't be beat.

SEE MORE

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: Parkside

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k477k

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

Neighborhood: Parkside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8932126

* 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
Vina Danks Middle School Middle Magnet 777 39 3
Chaffey High School High Regular 3,530 138 4

Vina Danks Middle School

  • Education Level: Middle
  • # of students: 777
  • # of teachers: 39
3
GreatSchools Rating

Chaffey High School

  • Education Level: High
  • # of students: 3,530
  • # of teachers: 138
4
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,476
Property Tax -$391
Property Insurance -$53
Property Management Fees -$123
CASH FLOW
$47

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.

$425,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 12.6%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$30,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $2,095

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,2003$2,4504$2,650
$2,650
RENT COMPS ANALYSIS
  • 520 E D Street Ontario, CA 1
    • 3 beds 1 baths ∙ 1,053 Sqft ∙ Built 1923 3 beds 1 baths ∙ 1,053 Sqft ∙ Built 1923
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.98
    •  
  • 626 E Nocta Street Ontario, CA 2
    • 3 beds 1 baths ∙ 1,249 Sqft ∙ Built 1913 3 beds 1 baths ∙ 1,249 Sqft ∙ Built 1913
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.76
    •  
  • 753 N Vine Avenue Ontario, CA 3
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1941
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $2.19
    •  
  • 726 E F Street Ontario, CA 4
    • 3 beds 1 baths ∙ 1,314 Sqft ∙ Built 1926 3 beds 1 baths ∙ 1,314 Sqft ∙ Built 1926
    property image
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.02
    •  
PROPERTY LISTING DETAILS
Jin Woo
Keller Williams Premier Prop
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21016169
Last Updated: 01/27/2021
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