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17217 Hibiscus Street Fontana, CA 92335

3 Beds 1 Baths 1,200 sqft Built 1954

$389,999

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $325.00
  • 3 Days on Market
  • MLS # : CV21024320
  • Updated Date : 02/06/2021 at 05:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 1 full
Listing Agent

Realty One Group Masters

Listing Agent's Description

Incredible Opportunity to own this Turnkey Fontana home with a huge lot perfectly situated on a quiet Cul-de-sac. Home features a beautiful floorplan with 3 large bedrooms and 1 bathroom. Entry way opens to a large living room with updated windows and brand new custom shutters, kitchen features newer appliances, new countertops, and a large seperate dining area. Substantially large sized Laundry Room, Brand New Central Air with Smart Thermostat. The Backyard is perfect for all your entertaining needs, BBQ's, and Family Gatherings, ample space to add a custom pool and spa without jeopardizing any space for entertaining.

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
Palmetto Elementary School Primary Regular 960 34 4
Harry S. Truman Middle School Middle Regular 1,213 53 2
Jurupa Hills High School High Regular 2,081 94 4

Palmetto Elementary School

  • Education Level: Primary
  • # of students: 960
  • # of teachers: 34
4
GreatSchools Rating

Harry S. Truman Middle School

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

Jurupa Hills High School

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

$350,999$428,999$389,999

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,355
Property Tax -$414
Property Insurance -$56
Property Management Fees -$117
CASH FLOW
$38

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.

$389,999

PROJECTED PRICE

$1,980

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,499
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$26,817

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $1,770

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$1,749
1$1,7492$1,7503$1,9804$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 17217 Hibiscus Street Fontana, CA 3
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.65
    •  
  • 17217 Manzanita Drive Fontana, CA 1
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1958
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.31
    •  
  • 17646 Dorsey Avenue Fontana, CA 2
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1955
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.51
    •  
  • 9803 Mango Drive Fontana, CA 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1952
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.48
    •  
  • 9687 Kempster Avenue Fontana, CA 5
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1967
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.60
    •  
PROPERTY LISTING DETAILS
Crystal Vartanian
Realty One Group Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21024320
Last Updated: 02/06/2021
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