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16362 Hawthorne Avenue Fontana, CA 92335

5 Beds 2 Baths 1,939 sqft Built 1971

$455,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $234.66
  • 6 Days on Market
  • MLS # : IG20228528
  • Updated Date : 11/02/2020 at 11:26
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,939 sqft
  • Baths : 2 full
Listing Agent

Kw The Lakes

Listing Agent's Description

Two Story Family home in the desirable City of Fontana. First time on the market in over 45years! This home boasts large pool size lot with great potential. Amazingly-Designed floor plan that has a large living room with fire place. You have 2 complete bedrooms down stairs with a full bath and 3 remaining bedrooms upstairs with a full bath. Elegant kitchen that spaciously opens to the dining room with slider that invites you to the beautiful back yard. Attached two car garage with access to the backyard. To the left of the house you have the possibility of an RV parking, Toy Haulers ,Boat, etc, with an iron gate already installed for your convenience and still has plenty of room for entertaining. This home is located in a great location, walking distance to the Elementary, Middle School and High School, YES!! Perfect location for the commuter, near freeways, shopping and much more. Do not miss out on becoming the 3rd owner of this home.

SEE MORE

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
Randall Pepper Elementary School Primary Regular 676 25 1
Harry S. Truman Middle School Middle Regular 1,213 53 2
Fontana High School High Regular 2,536 120 5

Randall Pepper Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 25
1
GreatSchools Rating

Harry S. Truman Middle School

  • Education Level: Middle
  • # of students: 1,213
  • # of teachers: 53
2
GreatSchools Rating

Fontana High School

  • Education Level: High
  • # of students: 2,536
  • # of teachers: 120
5
GreatSchools Rating
 

$409,500$500,500$455,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,679
Property Tax -$483
Property Insurance -$74
Property Management Fees -$137
CASH FLOW
-$44

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.

$455,000

PROJECTED PRICE

$2,330

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,679

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$29,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,424

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,330
1$2,3302$2,400
$2,400
RENT COMPS ANALYSIS
  • 16362 Hawthorne Avenue Fontana, CA 1
    • 5 beds 2 baths ∙ 1,939 Sqft ∙ Built 1971 5 beds 2 baths ∙ 1,939 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.20
    •  
  • 8868 Tangelo Avenue Fontana, CA 2
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1954 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1954
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.25
    •  
PROPERTY LISTING DETAILS
Norma Covarrubias
Kw The Lakes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20228528
Last Updated: 11/02/2020
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