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967 N Magnolia Avenue N Rialto, CA 92376

3 Beds 2 Baths 1,276 sqft Built 1955

$390,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $305.64
  • 4 Days on Market
  • MLS # : CV21028420
  • Updated Date : 02/13/2021 at 07:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,276 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Socal

Listing Agent's Description

Welcome Home! This turnkey single story beauty is just what you have been looking for. As you pull in to the spacious driveway you will notice the beautifully landscaped front yard and RV parking. You are welcomed inside with newer dark wood laminate, new carpet, and neutral paint colors for an updated look. The spacious open living room and formal dining room combo has a stunning stacked stone fireplace, french doors and plenty of room for entertaining. The updated kitchen is complete with white cabinets, granite counter tops, stainless steel appliances, a garden window and plenty of room for casual eating. Enjoy the 3 nice size bedrooms including a master with a private entry. The main bathroom has been updated to include beautiful tile work, newer vanity, and a nice tub and shower combo. This charmer also offers an ample powder room, plenty of storage, a convenient laundry room, security doors and windows and gorgeous blinds throughout. This home boasts the most stunning back yard complete with large covered patio with fans, a large green belt, block walls, and plenty of room for entertaining your friends and family. Let's not forget the RV parking and room for your toys, cars or work supplies. Including a convenient 2 car garage with separate entry this home has everything you're looking for and more. Located close to the 210 fwy it's commuter friendly, and close to shopping and beautiful downtown Rialto. This is a must see, so don’t wait! Book your private showing.

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: Rialto

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Rialto

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Henry Elementary School Primary Regular 462 18 4
Kolb Middle School Middle Regular 971 49 2
Eisenhower High School High Regular 2,456 99 4

Henry Elementary School

  • Education Level: Primary
  • # of students: 462
  • # of teachers: 18
4
GreatSchools Rating

Kolb Middle School

  • Education Level: Middle
  • # of students: 971
  • # of teachers: 49
2
GreatSchools Rating

Eisenhower High School

  • Education Level: High
  • # of students: 2,456
  • # of teachers: 99
4
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,355
Property Tax -$455
Property Insurance -$58
Property Management Fees -$107
CASH FLOW
-$155

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.

$390,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$10,638

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $1,489

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,7004$1,820
$1,820
RENT COMPS ANALYSIS
  • 967 N Magnolia Avenue N Rialto, CA 4
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.43
    •  
  • 413 W Jackson Street Rialto, CA 1
    • 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1971
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.14
    •  
  • 432 W Jackson Street Rialto, CA 2
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.20
    •  
  • 430 E Cerritos Street Rialto, CA 3
    • 4 beds 2 baths ∙ 1,468 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,468 Sqft ∙ Built 1972
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.16
    •  
PROPERTY LISTING DETAILS
Jannette Mansour
Keller Williams Socal
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21028420
Last Updated: 02/13/2021
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