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617 E F Street Ontario, CA 91764

4 Beds 2 Baths 1,402 sqft Built 1953

$470,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $335.24
  • 4 Days on Market
  • MLS # : CV20251317
  • Updated Date : 12/03/2020 at 22:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,402 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Welcome to this "Must See" single story home located in a highly desirable area of Ontario. This property is competitively priced and affordable in comparison with other 4 bedroom homes currently available in the same area and will go fast. This 4 bedroom, 2 bathroom home demonstrates pride of ownership and is a great starter home with a large living space. The property offers many amenities including recently upgraded bathrooms, kitchen with recently remodeled granite counter tops and newer cabinetry, easy to maintain tile and laminate wood flooring throughout, brand new laminate flooring in the bedrooms, large family room perfect for entertaining family and friends, low maintenance back yard, RV parking, rear oversized open patio, alley access, block walls bordering property, and much much more. There are parks, schools, public transportation, shopping centers, and the 10 freeway are all conveniently located nearby. Fall in love with this home and make it yours for the Holiday Season! Schedule a private tour asap! Home are flying off the market and this gorgeous home won't be the exception.

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
Berlyn Elementary School Primary Regular 759 31 3
Berlyn Elementary School Middle Regular 759 31 3
Chaffey High School High Regular 3,530 138 4

Berlyn Elementary School

  • Education Level: Primary
  • # of students: 759
  • # of teachers: 31
3
GreatSchools Rating

Berlyn Elementary School

  • Education Level: Middle
  • # of students: 759
  • # of teachers: 31
3
GreatSchools Rating

Chaffey High School

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

$423,000$517,000$470,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,734
Property Tax -$435
Property Insurance -$61
Property Management Fees -$126
CASH FLOW
-$216

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.

$470,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.46%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$15,978

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $2,121

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$2,0003$2,1004$2,1405$2,350
$2,350
RENT COMPS ANALYSIS
  • 617 E F Street Ontario, CA 4
    • 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.53
    •  
  • 839 W El Morado Court Ontario, CA 1
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.54
    •  
  • 798 E 7th Street Upland, CA 2
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1950
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.48
    •  
  • 819 Calaveras Avenue Ontario, CA 3
    • 4 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954
    property image
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.42
    •  
  • 537 W J Street Ontario, CA 5
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.61
    •  
PROPERTY LISTING DETAILS
Angel Villegas
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20251317
Last Updated: 12/03/2020
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