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PROPERTY INFO
FACTS
- Single Family
- Built In 1967
- Price/Sqft : $315.53
- 3 Days on Market
- MLS # : CV20256229
- Updated Date : 12/12/2020 at 17:40
CONSTRUCTION
- Beds : 3
- Floor Size : 1,442 sqft
- Baths : 2 full
Listing Agent
Century 21 King
Listing Agent's Description
For Sale only this amazing 3 bedrooms 2 baths home with corner location. Property offers an open floor plan for entertaining. Sellers have really put in a lot of love and work into this gorgeous home. Tile flooring flooring through and shutters with three bedrooms 2 baths, beautiful open spacious living room, a nice open floor plan flows nicely, Cozy family room for entertaining, open floor plan kitchen with lots of cabinetry, quartz counter tops and new kitchen sink. Master bedroom with master bath and large closet in bedroom. Step out and enjoy the fenced backyard; What a great home for BBQ's and parties or to entertain friends and enjoy. This Property has been upgraded! NEW flooring - NEW carpets - NEW quartz counter tops - NEW kitchen cabinets - UPGRADED Bathrooms - NEW brass door knobs - NEW exterior and interior paint - NEW base boards - and so many others upgrades! Nice location, close to Schools, transportation, shopping, parks and easy access to 210 and 215 freeways. Come and see this great opportunity! It will not last!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fontana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,960 |
| EXPENSES | Loan Payment | -$1,679 |
| Property Tax | -$483 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$116 | |
|
CASH FLOW
-$380
|
||
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.
$455,000
PROJECTED PRICE
$1,960
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$126,325
LOAN DETAILS
$1,679
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $113,750 |
| Loan Amount | $341,250 |
1.58
YEARS SAVED
$5,077
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,960
LIST RENT -
$1.36
LIST RENT PER SQFT
-
$1,983
COMP ESTIMATED VALUE -
$1.38
COMP AVG. RENT PER SQFT
Comps Range
-
17928 Barbee Street Fontana, CA 2
- 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1967
- Rent
- Rent Per SQFT
- $1,960
- $1.36
-
7399 Kempster Avenue Fontana, CA 1
- 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1983
LEASED 02/21/20- Rent
- Rent Per SQFT
- $1,695
- $1.40
-
18234 Fairview Drive Fontana, CA 3
- 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 1987
LEASED 03/11/20- Rent
- Rent Per SQFT
- $2,100
- $1.36
-
1192 Lorraine Place Rialto, CA 4
- 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1984
LEASED 08/26/20- Rent
- Rent Per SQFT
- $2,100
- $1.36
-
18150 Athol Street Fontana, CA 5
- 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
PROPERTY LISTING DETAILS
Century 21 King
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20256229
Last Updated: 12/12/2020
