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16566 Athol Street Fontana, CA 92335

4 Beds 3 Baths 2,309 sqft Built 2018

$510,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $220.87
  • 5 Days on Market
  • MLS # : RS20229417
  • Updated Date : 10/30/2020 at 15:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,309 sqft
  • Baths : 2 full , 1 half
Listing Agent

Far West Realty

Listing Agent's Description

This is a completely Brand New home just built from the ground up. No expense was spared in building this home. The large kitchen to the open living room and dinning room makes it perfect for hosting family events. Brand new kitchen cabinets with a custom quartz countertop. The master bedroom is large and roomy with a private master bath. The Master bath has a double sink and custom walk in shower with rainfall shower head. Large walk-in closet completes the master. The other 3 bedrooms rooms are very large in size as well. There is a private laundry room with setup for a sink/washbasin. The backyard has nice covered patio that overlooks a large back yard. On the side yard, it has ample space to store an RV, boat and/or trailer! As mentioned before, this home is band new, the maintenance will be next to nothing for many years to come.

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
Date Elementary School Primary Regular 724 27 2
Fontana Middle School Middle Regular 1,104 44 3
Fontana High School High Regular 2,536 120 5

Date Elementary School

  • Education Level: Primary
  • # of students: 724
  • # of teachers: 27
2
GreatSchools Rating

Fontana Middle School

  • Education Level: Middle
  • # of students: 1,104
  • # of teachers: 44
3
GreatSchools Rating

Fontana High School

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

$459,000$561,000$510,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,882
Property Tax -$542
Property Insurance -$83
Property Management Fees -$145
CASH FLOW
-$201

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.

$510,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.48%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$19,150

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,478

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4503$2,6504$2,800
$2,800
RENT COMPS ANALYSIS
  • 16566 Athol Street Fontana, CA 2
    • 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.06
    •  
  • 15740 Hanover Lane Fontana, CA 1
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2014
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
  • 15621 Basil Leaf Lane Fontana, CA 3
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2017
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.10
    •  
  • 8887 Palmetto Avenue Fontana, CA 4
    • 5 beds 3 baths ∙ 2,445 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,445 Sqft ∙ Built 2016
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.15
    •  
PROPERTY LISTING DETAILS
Chris Mark
Far West Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS20229417
Last Updated: 10/30/2020
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