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927 W H Street Ontario, CA 91762

4 Beds 2 Baths 1,402 sqft Built 1955

$489,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
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

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
Elderberry Elementary School Primary Regular 837 30 6
Elderberry Elementary School Middle Regular 837 30 6
Montclair High School High Regular 3,034 117 6

Elderberry Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 30
6
GreatSchools Rating

Elderberry Elementary School

  • Education Level: Middle
  • # of students: 837
  • # of teachers: 30
6
GreatSchools Rating

Montclair High School

  • Education Level: High
  • # of students: 3,034
  • # of teachers: 117
6
GreatSchools Rating
 

$440,100$537,900$489,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

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

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,698

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

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
$1,920
1$1,9202$2,1803$2,3004$2,3505$2,600
$2,600
RENT COMPS ANALYSIS
  • 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
Gerardo Hernandez
Berkshire Hath Hm Svcs Ca Prop
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21013711
Last Updated: 01/22/2021
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