1218 S Cypress Avenue B, Ontario, California 91762, Ontario, 91762 - 3 bed, 3 bath
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Ontario, California 91762
This FHA-Approved Townhome-Style Condominium is a Prime Investment Opportunity, listed at $515,000—positioned well below the $537,133 Fair Market Value by 4%. This valuation gap offers $22,133 in Instant Equity for incoming buyers. While the property holds a Condition Rating of 4 due to its original 1981 finishes, it features a highly functional layout with a private yard, 2-car garage, and upstairs laundry. Located in a gated community with a pool and tennis courts within the Ontario-Montclair School District, it is an ideal match for first-time buyers or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1218 S Cypress Avenue B Subject | $515,000* List Price | 3 | 3 | 1,512 | $355 | - |
A 1214 S Cypress Avenue G Sold | $415,000 | 2 | 1 | 1,234 | $336 | 0.0 mi |
B 831 S Mountain Avenue Sold | $475,000 | 3 | 3 | 1,408 | $337 | 0.4 mi |
C 1031 Palmetto Avenue Sold | $489,000 | 2 | 3 | 1,181 | $414 | 0.1 mi |
D 952 Pinyon Court Sold | $450,000 | 2 | 2 | 1,372 | $328 | 1.0 mi |
E 1031 S Palmetto Avenue Ii1 Sold | $495,000 | 3 | 3 | 1,181 | $419 | 0.1 mi |
F 956 Cone Flower Lane Sold | $445,000 | 2 | 2 | 1,242 | $358 | 0.9 mi |
G 849 S Mountain Active | $528,000 List Price | 3 | 3 | 1,408 | $375 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1981, this property is well-maintained but largely outdated. While it features updated wood-style flooring in the living areas and newer stone countertops in the kitchen, the flat-panel cabinetry, mismatched black appliances, and basic bathroom fixtures are characteristic of an older home that has not undergone a comprehensive modern renovation.
The property is FHA approved, making it highly accessible for first-time buyers with low down payment options, while the 3-bedroom layout offers strong rental or resale potential.
The floor plan is designed for convenience, featuring a master suite with high ceilings, a private yard connecting to a 2-car garage, and a dedicated upstairs laundry room.
Residents enjoy a secure environment with access to premium community features including a swimming pool, tennis courts, and multiple play areas for children.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1512, other record lot size in square feet = 1234. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1512, other record living area = 1218. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
The $422 monthly association fee represents a significant recurring cost that may impact the overall affordability and debt-to-income ratio for some buyers.
The property is listed as having no views, which may be a drawback for buyers seeking aesthetic surroundings or a greater sense of openness from their living spaces.
FHA approved, Gated Community, Great Investment opportunity! This 2-story townhome style 3 bedroom 2.5 bathroom features wood flooring down stairs in the living room with fire place and dining room, tile flooring in the kitchen and bathrooms. Private yard connects the 2 car garage and the unit. Upstairs is master suite with high ceiling and double closets, spacious 2 additional bedrooms, full bath, laundry room upstairs so no need going up and down with laundry. Community pool, tennis court and lots of play area for kids. FHA approved community, Buyer to double check with Buyer's lender.
No exterior & parking available.
Grades K-6 • 1.1 mi
Grades 7-8 • 0.7 mi
Grades 9-12 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,512 | 1,379 | 57% |
| Lot Size | 1,512 | - | 86% |
| Price | $515.0K | $555.2K | 36% |
| Price per sq ft | $341 | $394 | 7% |
| Built year | 1981 | 2025 | 19% |
| HOA | $422.0 | $300 | 85% |
| Days on market | 33 | 209 | 1% |
Mar 20, 2026
$515,000
Initial Listing