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520 W F Street Ontario, CA 91762

3 Beds 1 Baths 1,212 sqft Built 1952

$510,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $420.79
  • 3 Days on Market
  • MLS # : CV21024387
  • Updated Date : 02/05/2021 at 13:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,212 sqft
  • Baths : 1 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Move-in ready home with a spacious floorplan, custom paint scheme, and smooth scraped ceilings. The living room has a fireplace and new wood laminate flooring. The kitchen offers white cabinetry with lots of storage space, tile countertops, and backsplash, a stainless steel stove, and opens to the light and bright dining area. All of the bedrooms have carpet flooring, and the primary bedroom has a ceiling fan and lots of natural light. The bathroom has been completely remodeled and has a beautiful vanity with quartz countertop, and updated fixtures. Enjoy the backyard that is ready to be made your own, with a built-in pergola to relax under after a long day, also the perfect space for entertaining! Conveniently located near schools, shopping, dining, and more!

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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k477k

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

Neighborhood: Ontario

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112126

* 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
 

$459,000$561,000$510,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,771
Property Tax -$469
Property Insurance -$57
Property Management Fees -$107
CASH FLOW
-$594

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.

$510,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.1%
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

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$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $1,976

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,810
1$1,8102$1,9203$2,3004$2,3505$2,395
$2,395
RENT COMPS ANALYSIS
  • 520 W F Street Ontario, CA 1
    • 3 beds 1 baths ∙ 1,212 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,212 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.49
    •  
  • 839 W El Morado Court Ontario, CA 2
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.54
    •  
  • 1513 W F Street Ontario, CA 3
    • 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.60
    •  
  • 537 W J Street Ontario, CA 4
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.61
    •  
  • 726 W Granada Court Ontario, CA 5
    • 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1949
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.77
    •  
PROPERTY LISTING DETAILS
Latrevia Palacios
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21024387
Last Updated: 02/05/2021
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