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537 E F Street Ontario, CA 91764

3 Beds 2 Baths 1,347 sqft Built 1928

$495,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $367.48
  • 17 Days on Market
  • MLS # : CV20234964
  • Updated Date : 11/21/2020 at 19:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,347 sqft
  • Baths : 2 full
Listing Agent

El Sol Real Estate

Listing Agent's Description

This is an awesome starter Home with a second unit converted along side separate from the house currently used as a single has all the amenities perfect to rent or lease. Huge backyard has a large patio perfect for easy outdoor living. Owner added Master bedroom with plans & permits.kitchen was updated a couple of years ago kept in good condition.House has a big back driveway with alley access to park a few cars. The front of the house offers space to park Two cars ,This home is located within walking distance from Glorias Restaurant, El Pescador Restaurant,CVS,Blink Gym, parks and schools. Easy access to 10 Freeway to go to Ontario Mills shopping center. The Unit conversion status is unclear Buyers Agent ,Realtor or Broker to do there own investigation. Owner is selling property as is.Sale of the house is contingent upon seller finding a replacement property.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Central Language Academy Primary Magnet 685 31 4
Central Language Academy Middle Magnet 685 31 4
Chaffey High School High Regular 3,530 138 4

Central Language Academy

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 31
4
GreatSchools Rating

Central Language Academy

  • Education Level: Middle
  • # of students: 685
  • # of teachers: 31
4
GreatSchools Rating

Chaffey High School

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

$445,500$544,500$495,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,826
Property Tax -$455
Property Insurance -$60
Property Management Fees -$129
CASH FLOW
-$281

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.

$495,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.44%

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$13,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.63

    LIST RENT PER SQFT
  • $2,128

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1903$2,300
$2,300
RENT COMPS ANALYSIS
  • 537 E F Street Ontario, CA 2
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1928
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.63
    •  
  • 244 S 3rd Avenue Upland, CA 1
    • 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1948
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.72
    •  
  • 797 Olive Street E Upland, CA 3
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1943
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.44
    •  
PROPERTY LISTING DETAILS
Rodrigo Castellanos
El Sol Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20234964
Last Updated: 11/21/2020
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