Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $348.79
- 4 Days on Market
- MLS # : CV21013711
- Updated Date : 01/22/2021 at 20:26
CONSTRUCTION
- Beds : 4
- Floor Size : 1,402 sqft
- Baths : 2 full
Listing Agent
Berkshire Hath Hm Svcs Ca Prop
Listing Agent's Description
Looking for comfortable home with potential to add your own desired updates? This easy-care home is located along a calm street close to the center of Ontario and just might tick all the boxes! The light-filled and open-concept layout is centered around a generous living room with a fireplace, beamed ceiling, and direct access through to the kitchen and breakfast room. Here, you can look to add your own style and design elements with the potential to transform this modest kitchen into a home chef’s dream. The 1,402 SQ Ft layout also features four generously-sized bedrooms and two updated baths with quality finishes. Extra updates include new roofing and windows, and new copper plumbing for added peace of mind. All of this confidently stands on a large 8,712 Sq Ft Lot with possible RV access and plenty of outdoor space to enjoy. Shopping, parks, and schools are all within easy reach of this delightful home. This is your chance to turn your property dreams into reality. Come take a tour to see what awaits your future!
SEE MORE
MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Ontario
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ontario
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,180 |
| EXPENSES | Loan Payment | -$1,698 |
| Property Tax | -$450 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$158
|
||
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.
$489,000
PROJECTED PRICE
$2,180
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$135,335
LOAN DETAILS
$1,698
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $122,250 |
| Loan Amount | $366,750 |
3.67
YEARS SAVED
$17,153
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,180
LIST RENT -
$1.55
LIST RENT PER SQFT
-
$2,247
COMP ESTIMATED VALUE -
$1.6
COMP AVG. RENT PER SQFT
Comps Range
-
927 W H Street Ontario, CA 2
- 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 1955
- Rent
- Rent Per SQFT
- $2,180
- $1.55
-
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
LEASED 04/07/20- Rent
- Rent Per SQFT
- $1,920
- $1.54
-
1513 W F Street Ontario, CA 3
- 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955
LEASED 09/23/19- Rent
- Rent Per SQFT
- $2,300
- $1.60
-
537 W J Street Ontario, CA 4
- 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958
LEASED 01/15/20- Rent
- Rent Per SQFT
- $2,350
- $1.61
-
739 W Granada Court Ontario, CA 5
- 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1952
LEASED 12/05/20- Rent
- Rent Per SQFT
- $2,600
- $1.66
PROPERTY LISTING DETAILS
Berkshire Hath Hm Svcs Ca Prop
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21013711
Last Updated: 01/22/2021
