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17883 Randall Avenue Fontana, CA 92335

3 Beds 1 Baths 1,215 sqft Built 1947

$390,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $320.99
  • 3 Days on Market
  • MLS # : IV21010023
  • Updated Date : 01/15/2021 at 19:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,215 sqft
  • Baths : 1 full
Listing Agent

Excellence Real Estate Hd

Listing Agent's Description

PROPERTY PROFILE SHOWS 3 BEDROOM 1 BATH, PROPERTY WAS RENOVATED IN YEAR 2010 DUE TO 100% FIRE LOST, WITH AN ADDITION OF A SECOND BATHROOM AND EXTRA SQUARE FOOTAGE.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bloomington

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $108k470k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Bloomington

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
Mary B. Lewis Elementary School Primary Regular 708 30 2
Joe Baca Middle School Middle Regular 839 34 3
Bloomington High School High Regular 2,037 84 4

Mary B. Lewis Elementary School

  • Education Level: Primary
  • # of students: 708
  • # of teachers: 30
2
GreatSchools Rating

Joe Baca Middle School

  • Education Level: Middle
  • # of students: 839
  • # of teachers: 34
3
GreatSchools Rating

Bloomington High School

  • Education Level: High
  • # of students: 2,037
  • # of teachers: 84
4
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,355
Property Tax -$372
Property Insurance -$57
Property Management Fees -$104
CASH FLOW
-$118

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.

$390,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 10.8%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$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 50% 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 $292,500
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$13,917

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $1,798

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$1,749
1$1,7492$1,7503$1,7704$1,9005$2,050
$2,050
RENT COMPS ANALYSIS
  • 17883 Randall Avenue Fontana, CA 3
    • 3 beds 1 baths ∙ 1,215 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,215 Sqft ∙ Built 1947
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.46
    •  
  • 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
    •  
  • 9602 Grace Street Fontana, CA 4
    • 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 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
Raul Tabares
Excellence Real Estate Hd
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21010023
Last Updated: 01/15/2021
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