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16590 Seville Avenue #E Fontana, CA 92335

3 Beds 3 Baths 1,259 sqft Built 1985

$300,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $238.28
  • 6 Days on Market
  • MLS # : CV20260868
  • Updated Date : 12/22/2020 at 13:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,259 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pointe Real Estate Inc.

Listing Agent's Description

Great deal! This condo offers you a two car garage, lots of open space and a 3 bedroom floor plan. Laundry is downstairs, in one of the 2.5 bathrooms. Cozy up by the fireplace in the living room, or enjoy the private outdoor patio space. Seville park is minutes away, shopping, metro link and dining close by!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Juniper Elementary School Primary Regular 607 22 3
Fontana Middle School Middle Regular 1,104 44 3
Fontana High School High Regular 2,536 120 5

Juniper Elementary School

  • Education Level: Primary
  • # of students: 607
  • # of teachers: 22
3
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,107
Property Tax -$308
Property Insurance -$58
HOA -$275
Property Management Fees -$106
CASH FLOW
-$64

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.

$300,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $1,967

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7903$1,9004$1,9455$2,300
$2,300
RENT COMPS ANALYSIS
  • 16590 Seville Avenue Fontana, CA 2
    • 3 beds 3 baths ∙ 1,259 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,259 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.42
    •  
  • 15651 Monica Court Fontana, CA 1
    • 3 beds 2 baths ∙ 1,087 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,087 Sqft ∙ Built 1986
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.56
    •  
  • 16290 Fontlee Court Fontana, CA 3
    • 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1980
    property image
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.53
    •  
  • 7476 Lemon Street Fontana, CA 4
    • 4 beds 2 baths ∙ 1,273 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,273 Sqft ∙ Built 1973
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.53
    •  
  • 16219 Owen Street Fontana, CA 5
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1970
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.63
    •  
PROPERTY LISTING DETAILS
Dakota Hopkins
Pointe Real Estate Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20260868
Last Updated: 12/22/2020
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