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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $307.12
- 2 Days on Market
- MLS # : OC21035715
- Updated Date : 02/20/2021 at 10:13
CONSTRUCTION
- Beds : 4
- Floor Size : 1,628 sqft
- Baths : 2 full
Listing Agent
Legend Realty & Finance Group
Listing Agent's Description
Incredible remodeled single story 4 bedroom, 2 bath home w/ exquisite curb appeal, great kitchen, dual pane vinyl windows, interior laundry w/ cabinets, Entertainer’s Delight backyard, purchased solar panels, all in one of the most highly desired neighborhoods of Fontana. Be greeted by flower-lined walkways, inviting front sitting patio & newer modern front door. Enter into an incredible floor plan w/ an extra large living room, mix of tile and hardwood flooring,recessed lighting. Open kitchen has elegant counters, , newer easy close wood cabinetry, upgraded fixtures, recessed lighting, opening to an extra large formal dining room. Backyard is perfect w/ extra large Aluma-wood patio cover, large grassy play area, even has large side yard w/ possible RV or boat parking or more entertaining. Plenty of room to add a pool and spa. Extra large master bedroom with sliders to backyard, & extra large walk-in closet. Ceiling fans, baseboards, recessed lighting & crown molding. 10 minutes from the world renowned California Auto Club NASCAR speedway Within an hour or less to Big Bear and Wrightwood Mountains for skiing and snowboarding, Lake Arrowhead fishing hiking, Orange County and LA Beaches , Palm Springs, Temecula Wineries and hours from Las Vegas! A must see home at an affordable price!
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MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Rancho Fontana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rancho Fontana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,270 |
| EXPENSES | Loan Payment | -$1,737 |
| Property Tax | -$531 | |
| Property Insurance | -$67 | |
| Property Management Fees | -$134 | |
|
CASH FLOW
-$198
|
||
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.
$499,999
PROJECTED PRICE
$2,270
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$138,250
LOAN DETAILS
$1,737
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $125,000 |
| Loan Amount | $374,999 |
3.5
YEARS SAVED
$15,517
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,270
LIST RENT -
$1.39
LIST RENT PER SQFT
-
$2,234
COMP ESTIMATED VALUE -
$1.37
COMP AVG. RENT PER SQFT
Comps Range
-
15181 Begonia Drive Fontana, CA 2
- 4 beds 2 baths ∙ 1,628 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,628 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $2,270
- $1.39
-
7608 Plumaria Drive Fontana, CA 1
- 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
LEASED 10/20/19- Rent
- Rent Per SQFT
- $2,180
- $1.35
-
7645 Sun Petal Court Fontana, CA 3
- 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
LEASED 10/18/20- Rent
- Rent Per SQFT
- $2,295
- $1.42
-
7634 Plumaria Drive Fontana, CA 4
- 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
LEASED 07/08/20- Rent
- Rent Per SQFT
- $2,300
- $1.42
-
6948 Lisa Drive Fontana, CA 5
- 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2004
LEASED 03/06/20- Rent
- Rent Per SQFT
- $2,300
- $1.30
PROPERTY LISTING DETAILS
Legend Realty & Finance Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21035715
Last Updated: 02/20/2021
