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959 W Granada Court Ontario, CA 91762

3 Beds 2 Baths 1,696 sqft Built 1962

$549,900

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $324.23
  • 4 Days on Market
  • MLS # : IV21039937
  • Updated Date : 02/25/2021 at 20:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

LOCATION,LOCAATION, LOCATION!!! This beautiful home was recently remodeled including fresh paint inside and outside, brand new laminate flooring , water proof flooring in kitchen, laundry room, and bathroom. Brand new interior doors and Entry door, brand new Quartz countertops in kitchen and bathrooms, including brand new sinks and faucets. Brand new dishwasher, brand new range hood. As you enter, thru the main entrance you walk into a large living room that offers privacy, since there is a separated Family room that has a cozy brick fireplace, and a separated Dinning room with a door that leads to patio where you can enjoy gatherings with family and friends. Generous size bedrooms, large kitchen, laundry room has a door that leads to the huge back yard which its totally safe for children and pets since it's enclose with block walls and wrought iron gate. Centrally located in a Family oriented, and highly sought after neighborhood in North Ontario between 60 Freeway and 10 Freeway but very close to 10 Fwy. Close to Ontario Airport, Ontario Mills, walking distance to Downtown, shopping centers, restaurants, Elementary school, Middle school and High School. Too much to mention, It won't 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
Vernon Middle School Middle Regular 743 40 4
Chaffey High School High Regular 3,530 138 4

Vernon Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 40
4
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

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,910
Property Tax -$506
Property Insurance -$68
Property Management Fees -$143
CASH FLOW
-$197

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

$2,430

PROJECTED RENT

0.44%

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$15k$20k

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 50% 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

3.58

YEARS SAVED

$17,997

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $2,675

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,3504$2,4305$2,600
$2,600
RENT COMPS ANALYSIS
  • 959 W Granada Court Ontario, CA 4
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.43
    •  
  • 1513 W F Street Ontario, CA 1
    • 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.60
    •  
  • 904 Hollowell Street Ontario, CA 2
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1952
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.44
    •  
  • 537 W J Street Ontario, CA 3
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958
    property image
    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
    property image
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.66
    •  
PROPERTY LISTING DETAILS
Pompeya Cobian
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21039937
Last Updated: 02/25/2021
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