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17387 Granada Avenue Fontana, CA 92335

3 Beds 1 Baths 1,558 sqft Built 1962

$439,900

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $282.35
  • 5 Days on Market
  • MLS # : EV20232555
  • Updated Date : 11/04/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,558 sqft
  • Baths : 1 full
Listing Agent

Real Estate Ebroker Inc.

Listing Agent's Description

Who doesn't want to live in an amazing turnkey home, that's located in a great Fontana tree lined cul-de-sac neighborhood? Come tour this fantastic newly updated property that is sure to give you that WOW factor. Beauty inside & out - this adorable property features a long driveway that leads to a detached garage with ample parking and outdoor space for all of your entertaining needs. Once inside this home - you will notice the beautiful laminate flooring throughout, along with an updated kitchen, bathrooms, pleasing paint colors, carpet, and fixtures! The truly special feature of this home - is its layout. Perfect for any lifestyle and with plenty of space to set up exactly how you like it! Easy to view - please contact me today to tour this hard to find turnkey home!

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MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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
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
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,623
Property Tax -$467
Property Insurance -$65
Property Management Fees -$130
CASH FLOW
-$75

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.

$439,900

PROJECTED PRICE

$2,210

PROJECTED RENT

0.50%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$24,999

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $2,240

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$1,749
1$1,7492$2,2103$2,3004$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 17387 Granada Avenue Fontana, CA 2
    • 3 beds 1 baths ∙ 1,558 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,558 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.42
    •  
  • 17217 Manzanita Drive Fontana, CA 1
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1958
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.31
    •  
  • 18150 Athol Street Fontana, CA 3
    • 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1979
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.38
    •  
  • 9466 Emerald Avenue Fontana, CA 4
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1972
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.53
    •  
  • 9134 Kaiser Avenue Fontana, CA 5
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1963
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.53
    •  
PROPERTY LISTING DETAILS
Chris Crow
Real Estate Ebroker Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV20232555
Last Updated: 11/04/2020
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