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15561 El Molino Street Fontana, CA 92335

3 Beds 1 Baths 904 sqft Built 1960

$369,999

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $409.29
  • 3 Days on Market
  • MLS # : CV21004197
  • Updated Date : 01/08/2021 at 11:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 904 sqft
  • Baths : 1 full
Listing Agent

300 Realty

Listing Agent's Description

TURNKEY , TURNKEY , PROPERTY HAS BEEN COSMETICALLY REPAIRED WITH NEW EXTERIOR PAINT & CUSTOM TWO TONE INTERIOR PAINT, NEW TILE FLOORING IN BATHS, LAMINATED WATER RESISTANT FLOORS IN KITCHEN AND LIVING ROOM, NEW CARPET IN BEDROOMS, NEW WHITE SHAKER CABINETS IN THE KITCHEN , NEW QUARTZ CUSTOM COUNTER TOPS IN KITCHEN AND BATHROOM, NEW STOVE, MICROWAVE, DISHWASHER, NEW BASEBOARDS, RECESSED LIGHTING, CUSTOM RE-MODELED BATHROOM, NEW LIGHT FIXTURES & HARDWARE ,1 CAR GARAGE , FRONT YARD WITH SPRINKLERS, NEW DOUBLE PANE WINDOWS, MINI BLINDS, AC UNIT WILL BE INSTALED BEFORE CLOSE OF ESCROW, SHOW AND SELL !!!!!!!!!!!!!

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Fontana

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k479k

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

Neighborhood: Fontana

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112139

* 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
Poplar Elementary School Primary Regular 720 27 4
Poplar Elementary School Middle Regular 720 27 4
Jurupa Hills High School High Regular 2,081 94 4

Poplar Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 27
4
GreatSchools Rating

Poplar Elementary School

  • Education Level: Middle
  • # of students: 720
  • # of teachers: 27
4
GreatSchools Rating

Jurupa Hills High School

  • Education Level: High
  • # of students: 2,081
  • # of teachers: 94
4
GreatSchools Rating
 

$332,999$406,999$369,999

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,285
Property Tax -$338
Property Insurance -$49
Property Management Fees -$112
CASH FLOW
$115

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.

$369,999

PROJECTED PRICE

$1,900

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,499
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$34,179

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,900
$1,900
RENT COMPS ANALYSIS
  • 15561 El Molino Street Fontana, CA
    • 3 beds 1 baths ∙ 904 Sqft ∙ Built 1960 3 beds 1 baths ∙ 904 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $2.10
    •  
PROPERTY LISTING DETAILS
Judy Dowding
300 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21004197
Last Updated: 01/08/2021
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