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643 W Granada Court Ontario, CA 91762

3 Beds 2 Baths 1,676 sqft Built 1953

$484,999

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $289.38
  • 2 Days on Market
  • MLS # : IV20247862
  • Updated Date : 11/28/2020 at 18:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 2 full
Listing Agent

All Nations Realty & Invs

Listing Agent's Description

Vintage charmer in Ontario with great features that are not found in new builds! This 3-bedroom 2-bathroom home sits on a large lot with mature landscaping and RV parking. The front porch welcomes you and upon entry you will be in the main living room with fireplace. Adjacent is the formal dining area and kitchen with original woodwork and cabinetry. The step-down den/family room has a cozy fireplace and access to the enclosed porch. Down the hall are the 3 large bedrooms. Each bedroom has a large closet and plenty of storage space. The master bedroom has a built-in vanity/desk area and large safe. The large shared bathroom features original features and tile. There is a utility/laundry room with even more storage. The smaller guest bathroom has a walk-in shower. Out the back door there is a large cement area perfect for RV or boat/toy storage and a detached 2 car garage. The backyard and enclosed patio are surrounded by a brick wall. New large AC unit and furnace, new thermostat and all new ducting and insulation have already been done for you. Close to freeway access, great shopping, schools, parks and so much more. Don’t miss your opportunity to see this one.

SEE MORE

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: 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
Hawthorne Elementary School Primary Regular 761 29 4
Hawthorne Elementary School Middle Regular 761 29 4
Chaffey High School High Regular 3,530 138 4

Hawthorne Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 29
4
GreatSchools Rating

Hawthorne Elementary School

  • Education Level: Middle
  • # of students: 761
  • # of teachers: 29
4
GreatSchools Rating

Chaffey High School

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

$436,499$533,499$484,999

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,789
Property Tax -$446
Property Insurance -$68
Property Management Fees -$139
CASH FLOW
-$92

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.

$484,999

PROJECTED PRICE

$2,350

PROJECTED RENT

0.48%

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$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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,749
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$27,729

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,355

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,3504$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 643 W Granada Court Ontario, CA 3
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.40
    •  
  • 751 W J Street Ontario, CA 1
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1950
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.27
    •  
  • 904 Hollowell Street Ontario, CA 2
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1952
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.44
    •  
  • 1060 N Benson Avenue Ontario, CA 4
    • 4 beds 2 baths ∙ 1,666 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,666 Sqft ∙ Built 1955
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.50
    •  
  • 1515 W Berkeley Court Ontario, CA 5
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1956
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.41
    •  
PROPERTY LISTING DETAILS
Todd Mcdonagh
All Nations Realty & Invs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20247862
Last Updated: 11/28/2020
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