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934 W Princeton Street Ontario, CA 91762

3 Beds 2 Baths 1,673 sqft Built 1954

$549,900

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $328.69
  • 7 Days on Market
  • MLS # : CV21018371
  • Updated Date : 02/06/2021 at 10:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,673 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max Masters Realty

Listing Agent's Description

OPPORTUNITY KNOCKS! Run! Don’t Walk. Gorgeous Turnkey Home Located in Gorgeous HIGHLY SOUGHT after North Ontario College Park Neighborhood. Fantastic Single-Story Home with 1673 SQFT of Living Space with Three Large Bedrooms and a Wonderful HUGE Bonus Room with a Cozy Fireplace That Will be Perfect for Family Movie Nights – all on an Expansive 7500 SQFT Lot. One of the Largest Lots in the Neighborhood. Upgrades Galore! An Abundance of Natural Light Flows in from New Double Pane Windows, French Door, and Sliding Glass Door; Newer Roof; Second Rear Bonus Room Can Be Used as an Office or Additional Storage Space; You Will Find the Character of the Natural Wood Floors to be Very Inviting; Central A/C AND Individual Cooling Systems with New Ducting to Keep Energy Use LOW; Updated Bathrooms and TONS of Recessed Lighting. Other Updates Include New Water Heater, Insulation, and Carpet. NO MELLO ROOS and NO HOA Make for LOW Cost of Ownership. Beautiful View of the Mountains. Enjoy a Refreshing Glass of Lemonade on the Front Porch While Watching the Children Play on the Front Lawn. The Potential of this Home is ENDLESS. Close to Freeways, Shopping, and Restaurants. Hurry. This Home Will Not Last!

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: 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
Vina Danks Middle School Middle Magnet 777 39 3
Chaffey High School High Regular 3,530 138 4

Vina Danks Middle School

  • Education Level: Middle
  • # of students: 777
  • # of teachers: 39
3
GreatSchools Rating

Chaffey High School

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

$494,910$604,890$549,900

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,910
Property Tax -$506
Property Insurance -$68
Property Management Fees -$130
CASH FLOW
-$413

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.

$549,900

PROJECTED PRICE

$2,200

PROJECTED RENT

0.40%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,080

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $2,476

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,3004$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 934 W Princeton Street Ontario, CA 1
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.32
    •  
  • 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
    •  
  • 1347 Deodar Ontario, CA 3
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.49
    •  
  • 1515 W Berkeley Court Ontario, CA 4
    • 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
    •  
  • 375 S San Antonio Avenue Upland, CA 5
    • 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 1962
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.58
    •  
PROPERTY LISTING DETAILS
Pierre Maajoun
Re/max Masters Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21018371
Last Updated: 02/06/2021
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