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524 W Morgan Street Rialto, CA 92376

4 Beds 2 Baths 1,258 sqft Built 1955

INVESTimate

$380,000

List Price

$1,770

$1,593 - $1,947

Rent Est.

$414,390  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $302.07
  • 3 Days on Market
  • MLS # : CV20173116
  • Updated Date : 08/25/2020 at 16:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,258 sqft
  • Baths : 2 full
Listing Agent

Re/max Time Realty

Listing Agent's Description

Rialto Turn-key home! This beautiful 4-bedroom, 2-bathroom single-family home located on a large 7,700 lot has RV parking which you can pull in all the way to the back yard.. This 1,258 Sq Ft open floor plan has enough room to entertain family and or friends. Upgrades include: Kitchen Cabinets, bathroom has been tiled, laminate wood flooring, double pane windows, recessed lighting, and much more . You will love the front yard and easy to maintain back yard with an awesome built in Bbq Grill. Also you are minutes from the new Rialto Renaissance Marketplace and shopping centers; so, Don't miss out yet again! And have your agent set up an appointment and or contact me directly for a private tour.

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: Rialto

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

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

Neighborhood: Rialto

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Dunn Elementary School Primary Regular 656 25 2
Kucera Middle School Middle Regular 1,218 45 2
Eisenhower High School High Regular 2,456 99 4

Dunn Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 25
2
GreatSchools Rating

Kucera Middle School

  • Education Level: Middle
  • # of students: 1,218
  • # of teachers: 45
2
GreatSchools Rating

Eisenhower High School

  • Education Level: High
  • # of students: 2,456
  • # of teachers: 99
4
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,593$1,947$1,770

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,402
Property Tax -$411
Property Insurance -$58
Property Management Fees -$104
CASH FLOW
-$205

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.

$380,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$10,043

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $1,451

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,5003$1,7704$1,895
$1,895
RENT COMPS ANALYSIS
  • 524 W Morgan Street Rialto, 3
    • 4 beds 2 baths ∙ 1,258 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,258 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.41
    •  
  • 432 W Jackson Street Rialto, 1
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971
    property image
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 320 E Rialto Avenue Rialto, 2
    • 3 beds 1 baths ∙ 1,285 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,285 Sqft ∙ Built 1953
    property image
    LEASED 04/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.17
    •  
  • 1579 N Clifford Avenue Rialto, 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1960
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.25
    •  
PROPERTY LISTING DETAILS
Alejandro Ojeda-benitez
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20173116
Last Updated: 08/25/2020
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