Laura Jewett

Laura Jewett

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$475,000

($520,104 down)
FHA

1311 E Olive Street, Colton, CA 92324

3
2
1,236 sqft
PITI Monthly
$1,333.96 /mo

Listing courtesy of: DEBRA HANNA, DEBRA HANNA BROKER

Assumed Rate

5.5%
7.15%

Principal & Interest

$548 /mo
$608 /mo

What's Special

SPACIOUS
CHARMING

$75K TOTAL PRICE DROP! Two Structures on One Spacious Lot! This property offers excellent potential with a 3-bedroom, 2-bathroom main house (1236 sqft) PLUS a detached structure that was once a garage and can possibly be permitted as an ADU (Accessory Dwelling Unit)...Another option is the large slab foundation in the back that could be the ADU instead (Much bigger footprint than the garage unit). For either option consult with the City of Colton to determine what is allowed, etc. Whether you're looking to live in one home and rent out the other, or you’re an investor seeking to create immediate equity, this is a fantastic opportunity! The main house features a charming porch area, a 2-car garage with built-in storage, 3 spacious bedrooms, and a large living room. The expansive 9500+ sqft lot offers ample space for expansion, gardening, or outdoor activities. Don’t miss out on this opportunity to utilize the full potential of this property with the possibility of two income-generating homes.

... Show more

Assumption Snapshot

Type of Loan
FHA
Interest Rate
5.5
Remaining Loan Term
Loan term completed
Monthly PITI
$1,333.96/mo
Estimated Loan Balance
$62,710
Cash to close
$520,104
Interest Paid
$31,570

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms: 3
  • Bathrooms: 2
Cooling & Heating
  • Cooling: CentralAir
  • Heating: Central
Features
  • Materials: Unknown
  • Community: Unknown
  • Has Fireplace: No
  • Fireplace Features: None
  • Flooring: Unknown

Exterior

Fencing
  • Fencing: Unknown
Roof
  • Roof: Unknown
Parking
  • Garage: Yes
  • Garage Spaces: 2
  • Carport: No
  • Carport Spaces:
Water
  • Sewer: PublicSewer
  • Water Source: Public
Pool
  • Has Pool: No
  • Pool Features: None

Construction

Type & Style
  • Stories: 1
  • Home type: SingleFamilyResidence
  • Architectural Style: Unknown
Materials
  • Unknown
  • Roof: Unknown
Condition
  • Year Built: 1961
Details
  • Builder:

Community & HOA

Community
  • Subdivision:
  • Features: StreetLights, Suburban
HOA
  • Has HOA: No
Location
  • Region: Colton

Financial Details

  • Price per Sqft: $384.3
  • Tax Annual Amount: $5937.5
  • On Market Date: 2025-03-05T00:00:00.000Z
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

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Savings Calculator

Current cash to close is $520,104 (109%)
You can enter any amount below - secondary financing will cover the difference if needed.
109%
$

You cover the entire equity of $520,104!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage5.5% Sellers Rate
-$45,104
Your Cash:$520,104
Total Purchase Price:$475,000

Assumed vs Traditional Mortgage

Assumed @ 5.5%
$548/mo
Traditional @ 7.5%
$622/mo
You save $74/month ($894/year)

*Secondary financing rates are an estimated value based on input

MLS ID: IG25048396

Listing From:

Last updated: 2025-03-31T22:37:05.000Z

© , CRMLS. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

5.5%
7.15%

Principal & Interest

$548 /mo
$608 /mo
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $520,104 (109%)
You can enter any amount below - secondary financing will cover the difference if needed.
109%
$

You cover the entire equity of $520,104!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage5.5% Sellers Rate
-$45,104
Your Cash:$520,104
Total Purchase Price:$475,000

Assumed vs Traditional Mortgage

Assumed @ 5.5%
$548/mo
Traditional @ 7.5%
$622/mo
You save $74/month ($894/year)

*Secondary financing rates are an estimated value based on input

Follow Us
UMe Assumptions
Agent/Broker
Laura Jewett(480) 628-2563laura@azinspiredliving.comMLS SA525254000

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© Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Listing Service. Real estate listings held by brokerage firms other than are marked with the Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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