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905 W 2nd Street Rialto, CA 92376

4 Beds 3 Baths 1,774 sqft Built 2005

$445,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $250.85
  • 2 Days on Market
  • MLS # : CV21030725
  • Updated Date : 02/13/2021 at 20:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,774 sqft
  • Baths : 3 full
Listing Agent

Century 21 Award

Listing Agent's Description

This spacious house in Rialto Features 4 bedrooms, and 3 bathrooms. All walking areas have Ceramic Tile Flooring. The Kitchen is large and easy to get around. The family room / Living Room is very open and has a fireplace to relax. The dining room can accommodate a large Table for 8. All 4 bedrooms are large rooms and can easily accommodate for two beds on each room. This home has laminate and ceramic tile flooring through. This house is perfect for indoor pet owners and easy to clean. See Virtual Tour for More Details.

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
Werner Elementary School Primary Regular 914 33 4
Rialto Middle School Middle Regular 1,252 56 2
Carter High School High Regular 2,412 98 6

Werner Elementary School

  • Education Level: Primary
  • # of students: 914
  • # of teachers: 33
4
GreatSchools Rating

Rialto Middle School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 56
2
GreatSchools Rating

Carter High School

  • Education Level: High
  • # of students: 2,412
  • # of teachers: 98
6
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,546
Property Tax -$481
Property Insurance -$70
Property Management Fees -$123
CASH FLOW
-$130

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.

$445,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,715

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,081

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,0003$2,0904$2,500
$2,500
RENT COMPS ANALYSIS
  • 905 W 2nd Street Rialto, CA 3
    • 4 beds 2 baths ∙ 1,774 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,774 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.18
    •  
  • 1148 W Cornell Street Rialto, CA 1
    • 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.17
    •  
  • 446 E James Street Rialto, CA 2
    • 4 beds 3 baths ∙ 1,703 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,703 Sqft ∙ Built 1990
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.17
    •  
  • 699 Mandarin Lane Rialto, CA 4
    • 4 beds 3 baths ∙ 2,111 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,111 Sqft ∙ Built 2019
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.18
    •  
PROPERTY LISTING DETAILS
Reynaldo Romero
Century 21 Award
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21030725
Last Updated: 02/13/2021
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