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652 W Home Street Rialto, CA 92376

3 Beds 2 Baths 1,020 sqft Built 1985

$339,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $332.35
  • 5 Days on Market
  • MLS # : EV21017639
  • Updated Date : 01/27/2021 at 12:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,020 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

WELCOME HOME!!! THIS GORGEOUS NEWLY UPDATED HOME IN RIALTO IS READY FOR ITS NEW OWNERS! FEATURING 3 BEDROOMS & 2 BATHROOMS THAT INCLUDES A MASTER BEDROOM AND FAMILY ROOM WITH FIREPLACE. NEW FLOORING HAS BEEN LAID, NEW DUAL PANE WINDOWS INSTALLED, FRESH PAINT APPLIED, NEWLY INSTALLED CEILING FANS, GLASS SLIDING DOORS, RECESSED LIGHTING, AND SO MUCH MORE. KITCHEN HAS BEEN GIVEN A TREMENDOUS MAKEOVER WITH NEW APPLIANCES, CENTER ISLAND AND TRENDY BACKSPLASH. FRESH LANDSCAPING AND LOW MAINTENANCE BACKYARD. LOCATED IN A NICE COMMUNITY WITH A PARK AND PLAY AREA. VERY LOW HOA. CLOSE TO AMENITIES NEARBY. THIS HOUSE IS READY FOR THE NEW HOMEOWNERS TO ENJOY! START YOUR 2021 WITH YOUR NEW HOME!

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Preston Elementary School Primary Regular 585 22 2
Kolb Middle School Middle Regular 971 49 2
Eisenhower High School High Regular 2,456 99 4

Preston Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 22
2
GreatSchools Rating

Kolb Middle School

  • Education Level: Middle
  • # of students: 971
  • # of teachers: 49
2
GreatSchools Rating

Eisenhower High School

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

$305,100$372,900$339,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,177
Property Tax -$393
Property Insurance -$52
HOA -$50
Property Management Fees -$99
CASH FLOW
-$262

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.

$339,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $1,193

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,510
$1,510
RENT COMPS ANALYSIS
  • 652 W Home Street Rialto, CA 3
    • 3 beds 2 baths ∙ 1,020 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,020 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.48
    •  
  • 413 W Jackson Street Rialto, CA 1
    • 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1971
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.14
    •  
  • 432 W Jackson Street Rialto, CA 2
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.20
    •  
PROPERTY LISTING DETAILS
Charles Obichang
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV21017639
Last Updated: 01/27/2021
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