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15415 Boise Avenue Fontana, CA 92336

4 Beds 3 Baths 2,329 sqft Built 2003

$639,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $274.37
  • 7 Days on Market
  • MLS # : IV21016562
  • Updated Date : 01/30/2021 at 19:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,329 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exclusive Properties

Listing Agent's Description

Nestled in the heart of Rancho Fontana, a uniquely transformed modern home with app-based WiFi smart devices to control lighting, window shades, split level AC and Heating System, quiet cool whole home fan system for both levels. 4 bedrooms and 3 bathrooms refreshed and remodeled/replaced and/or upgraded with 2020 kitchen appliances, AC and Heating Systems. Life Proof ceramic tile non-slip flooring downstairs. New carpet upstairs, paint, crown moulding, base boards, bathroom fixtures, and ceiling fans. Fully paid Solar System with Tesla solar battery packs. Custom Koi Pond complete with leisure deck. Full Size Luxury Swim Spa. Additional Custom Craft/She Shed with heating and AC unit at end of deck. AC unit for inside of 2 car garage with a separate custom garage door screen. New digital Water Heater and water softener with extension hose bib to wash vehicles free of water spots. Must see to appreciate all that has been mentioned and what's not.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rancho Fontana

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $148k584k

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

Neighborhood: Rancho Fontana

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822496

* 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
Hemlock Elementary School Primary Regular 434 17 4
Almeria Middle School Middle Regular 833 38 3
Summit High School High Regular 2,606 108 6

Hemlock Elementary School

  • Education Level: Primary
  • # of students: 434
  • # of teachers: 17
4
GreatSchools Rating

Almeria Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 38
3
GreatSchools Rating

Summit High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 108
6
GreatSchools Rating
 

$575,100$702,900$639,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,219
Property Tax -$676
Property Insurance -$84
Property Management Fees -$148
CASH FLOW
-$617

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.

$639,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,219

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,814

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,667

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,510
1$2,5102$2,6003$2,6004$2,6005$2,690
$2,690
RENT COMPS ANALYSIS
  • 15415 Boise Avenue Fontana, CA 1
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.08
    •  
  • 7143 Helena Place Fontana, CA 2
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2004
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.17
    •  
  • 7167 Andrea Street Fontana, CA 3
    • 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 1999
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.21
    •  
  • 7860 Sea Salt Avenue Fontana, CA 4
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2016
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
  • 15576 Allspice Fontana, CA 5
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2017
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $1.12
    •  
PROPERTY LISTING DETAILS
Jaime Luevano
Exclusive Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21016562
Last Updated: 01/30/2021
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