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956 N Mariposa Avenue Ontario, CA 91764

3 Beds 1 Baths 1,396 sqft Built 1962

$569,999

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $408.31
  • 2 Days on Market
  • MLS # : IV21026102
  • Updated Date : 02/13/2021 at 12:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,396 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Top Team

Listing Agent's Description

This beautiful single story home consists of three bedroom two bath with spacious family and living room areas. Living room currently being used as game room. Upgraded bathrooms with newer flooring, vanities, lighting and toilets. Newly built salt water pool with pebble tec, built approximately 2 years ago. Backyard also offers a palapa with built in gas range. House has been recently upgraded. Home also has solar panel system.

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
Wiltsey Middle School Middle Regular 1,043 44 4
Chaffey High School High Regular 3,530 138 4

Wiltsey Middle School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 44
4
GreatSchools Rating

Chaffey High School

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

$512,999$626,999$569,999

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,980
Property Tax -$524
Property Insurance -$61
Property Management Fees -$120
CASH FLOW
-$655

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.

$569,999

PROJECTED PRICE

$2,030

PROJECTED RENT

0.36%

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

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$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,980

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,500
Loan Amount $427,499
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $2,118

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$2,0304$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 956 N Mariposa Avenue Ontario, CA 3
    • 3 beds 1 baths ∙ 1,396 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,396 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.45
    •  
  • 2030 E 5th Street Ontario, CA 1
    • 3 beds 3 baths ∙ 1,281 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,281 Sqft ∙ Built 1982
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.44
    •  
  • 2034 E 5th Street Ontario, CA 2
    • 3 beds 3 baths ∙ 1,345 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,345 Sqft ∙ Built 1982
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.45
    •  
  • 8348 Main Street Rancho Cucamonga, CA 4
    • 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1977
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.57
    •  
  • 1908 E Highland Court Ontario, CA 5
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.61
    •  
PROPERTY LISTING DETAILS
Shalise Martin
Coldwell Banker Top Team
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21026102
Last Updated: 02/13/2021
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