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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $305.75
- 16 Days on Market
- MLS # : EV20235257
- Updated Date : 11/21/2020 at 18:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,305 sqft
- Baths : 2 full
Listing Agent
California Life Properties Inc
Listing Agent's Description
Welcome to Fontana! This three-bedroom, two-bathroom home is located on a corner lot cul-de-sac: fresh interior paint and updated bathroom vanities with new shower doors. New double-pane windows. The home has an indoor laundry area. The family room has a fireplace. Backyard has a covered patio plus a BONUS ROOM. Perfect for a playroom or entertainment space. Built-in BBQ in the patio area. The living area is 1305, and the gross space is 1767. Two car garage with RV parking and backside parking. This residence is fully gated with a wrought iron fence and block walls. Home is conveniently located by freeway, schools, and shopping centers—great first starter home.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Fontana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fontana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,850 |
| EXPENSES | Loan Payment | -$1,472 |
| Property Tax | -$424 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$109 | |
|
CASH FLOW
-$214
|
||
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.
$399,000
PROJECTED PRICE
$1,850
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$111,485
LOAN DETAILS
$1,472
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $99,750 |
| Loan Amount | $299,250 |
2.92
YEARS SAVED
$10,813
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,850
LIST RENT -
$1.42
LIST RENT PER SQFT
-
$1,909
COMP ESTIMATED VALUE -
$1.46
COMP AVG. RENT PER SQFT
Comps Range
-
15910 Grevillea Street Fontana, CA 1
- 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1979
- Rent
- Rent Per SQFT
- $1,850
- $1.42
-
16290 Fontlee Court Fontana, CA 2
- 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1980
LEASED 04/26/20- Rent
- Rent Per SQFT
- $1,900
- $1.53
-
9220 Citrus Avenue Fontana, CA 3
- 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1985
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,950
- $1.43
-
15380 Yew Court Fontana, CA 4
- 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1994
LEASED 06/07/20- Rent
- Rent Per SQFT
- $1,950
- $1.41
-
15348 Granada Avenue Fontana, CA 5
- 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 1990
LEASED 10/15/19- Rent
- Rent Per SQFT
- $2,300
- $1.48
PROPERTY LISTING DETAILS
California Life Properties Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: EV20235257
Last Updated: 11/21/2020
