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17426 Ivy Avenue Fontana, CA 92335

3 Beds 1 Baths 1,071 sqft Built 1952

$380,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $354.81
  • 3 Days on Market
  • MLS # : DW20256087
  • Updated Date : 12/11/2020 at 17:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,071 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Alliance Rty

Listing Agent's Description

WILL NOT LAST!! Come take a look at this cute 3 bedroom 1 bath home, includes a bonus room in the back with its separate 2 car garage, big back yard for those family BBQ's, spacious kitchen that leads to the living room and the bonus room, also has a big gated yard in the front of the home.

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
South Tamarind Elementary School Primary Regular 773 28 3
Fontana Middle School Middle Regular 1,104 44 3
Fontana High School High Regular 2,536 120 5

South Tamarind Elementary School

  • Education Level: Primary
  • # of students: 773
  • # of teachers: 28
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
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,402
Property Tax -$404
Property Insurance -$53
Property Management Fees -$108
CASH FLOW
-$137

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.

$380,000

PROJECTED PRICE

$1,830

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,187

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $1,671

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8303$1,9004$2,0505$2,300
$2,300
RENT COMPS ANALYSIS
  • 17426 Ivy Avenue Fontana, CA 2
    • 3 beds 1 baths ∙ 1,071 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,071 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.71
    •  
  • 17646 Dorsey Avenue Fontana, CA 1
    • 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
    •  
  • 9602 Grace Street Fontana, CA 3
    • 3 beds 3 baths ∙ 1,267 Sqft ∙ Built 1952 3 beds 3 baths ∙ 1,267 Sqft ∙ Built 1952
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.50
    •  
  • 9687 Kempster Avenue Fontana, CA 4
    • 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
    •  
  • 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
Terri Bush
Coldwell Banker Alliance Rty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20256087
Last Updated: 12/11/2020
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