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558 W Philadelphia Street, Ontario, California 91762, Ontario, 91762 - 4 bed, 2 bath

558 W Philadelphia Street, Ontario, California 91762 home-pic-0
ACTIVE$759,000
558 W Philadelphia Street, Ontario, California 91762
4Beds
2Baths
1,895Sqft
9,270Lot

Price Vs. Estimate

The estimated value ($439,683.355) is $319,316.645 (42%) lower than the list price ($759,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9270, living area = 1895.
Top Cons:
Significant Overpricing: The listing price of $759,000 is considerably higher than the estimated property value of $439,683, indicating a potential overvaluation of 42%.

Compared to the nearby listings

Price:$759.0K vs avg $755.5K (+$3,500)50%
Size:1,895 sqft vs avg 1,862 sqft52%
Price/sqft:$401 vs avg $40746%

More Insights

Built in 1963 (62 years old).
Condition: The property, built in 1963, has undergone recent significant cosmetic updates, including new interior and exterior paint, new flooring throughout, updated bathroom vanities and fixtures, and a kitchen with granite countertops and ample storage. These updates make the home move-in ready with no immediate renovations required, aligning with the 'Good' criteria. While the core structure is older, the recent renovations prevent it from being categorized as 'Fair' or lower, as the key areas like kitchen and bathrooms appear functional and updated within the last 5-15 years, rather than showing signs of being outdated.
Year Built
1963
Close
-
List price
$759K
Original List price
$759K
Price/Sqft
$401
HOA
-
Days on market
-
Sold On
-
MLS number
IV25130178
Home ConditionGood
Features
Patio
View-

About this home

Welcome to 558 W Philadelphia Street in Ontario. This expansive single-story home offers approximately 1,895 square feet of living space on a 9,270 square foot corner lot. The property features 4 bedrooms and 2 bathrooms, with recent updates including new interior and exterior paint and new flooring throughout. The functional layout includes a large living area with a fireplace, a well-equipped kitchen with granite countertops, ample cabinet storage, and a gas range. The bedrooms are generously sized, and both bathrooms have been updated with newer vanities and fixtures. Additional features include: Central heating and air, two-car attached garage, wide driveway with potential RV or boat parking, and a fully fenced backyard. Located on a corner lot, this home offers easy access to local schools, parks, shopping centers, and major freeways.

Condition Rating
Good
The property, built in 1963, has undergone recent significant cosmetic updates, including new interior and exterior paint, new flooring throughout, updated bathroom vanities and fixtures, and a kitchen with granite countertops and ample storage. These updates make the home move-in ready with no immediate renovations required, aligning with the 'Good' criteria. While the core structure is older, the recent renovations prevent it from being categorized as 'Fair' or lower, as the key areas like kitchen and bathrooms appear functional and updated within the last 5-15 years, rather than showing signs of being outdated.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9270, living area = 1895.
Large Corner Lot: The property boasts an expansive 9,270 square foot corner lot, offering more space, privacy, and potential for outdoor activities or future expansion.
Recent Cosmetic Updates: The home features recent updates including new interior and exterior paint and new flooring throughout, providing a fresh and move-in ready appearance.
Spacious Single-Story Layout: An expansive single-story home with approximately 1,895 square feet of living space, including 4 generously sized bedrooms and 2 updated bathrooms, catering to various family needs.
RV/Boat Parking Potential: The wide driveway offers potential for RV or boat parking, a valuable amenity for owners with recreational vehicles.
Convenient Location: Strategically located with easy access to local schools, parks, shopping centers, and major freeways, enhancing daily convenience and connectivity.

Cons

Significant Overpricing: The listing price of $759,000 is considerably higher than the estimated property value of $439,683, indicating a potential overvaluation of 42%.
Age of Core Structure: Built in 1963, the property's age suggests that while cosmetic updates are present, major underlying systems (e.g., plumbing, electrical, roof) may be original or older, potentially requiring future investment.
Partial Kitchen Updates: While the kitchen is described as 'well-equipped with granite countertops, ample cabinet storage, and a gas range,' it does not explicitly state a full modern remodel, which might not meet the expectations of buyers seeking fully renovated kitchens.

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