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17986 Ramona Avenue Fontana, CA 92336

3 Beds 2 Baths 1,170 sqft Built 1979

$399,999

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $341.88
  • 3 Days on Market
  • MLS # : CV21000199
  • Updated Date : 01/02/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,170 sqft
  • Baths : 2 full
Listing Agent

Omi & Associates

Listing Agent's Description

EXCELLENT OPPORTUNITY TO PURCHASE THIS UPDATED POOL HOME SITUATED IN OUR HIGHLY SOUGHT AFTER FONTANA NEIGHBORHOOD***FANTASTIC OPEN FLOOR PLAN AND CONCEPT, PERFECT FOR ANY FAMILY***OFFERING A VERY LARGE OPEN AND UPDATED KITCHEN, PERFECT FOR THE FAMILY CHEF***ALSO OFFERING UPDATED LAMINATE FLOORING IN MOST OF THE HOME***NEWER ELECTRICAL PANEL AND A/C UNIT***LARGE FENCED FRONT YARD IS EXCELLENT FOR YOUR PETS***THE PRIVATE AND FENCED (BLOCK WALLS) BACKYARD OFFERS GREAT SPACE FOR FAMILY AND FRIENDS TO GATHER***THE BACKYARD ALSO OFFERS AN EXTRA WIDE COVERED PATIO, PERFECT FOR ENTERTAINING***THERE'S AN EXTRA LARGE TWO-CAR GARAGE WITH AMPLE SPACE FOR STORAGE***THIS PROPERTY ALSO OFFER AMPLE DRIVEWAY PARKING SPACE, AS WELL AS SEPARATE BOAT/RV PARKING***EXCELLENT LOCATION***A MUST SEE TO APPRECIATE***

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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
Locust Elementary School Primary Regular 497 19 2
Alder Middle School Middle Regular 1,167 48 2
Fontana A. B. Miller High School High Regular 2,352 112 4

Locust Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 19
2
GreatSchools Rating

Alder Middle School

  • Education Level: Middle
  • # of students: 1,167
  • # of teachers: 48
2
GreatSchools Rating

Fontana A. B. Miller High School

  • Education Level: High
  • # of students: 2,352
  • # of teachers: 112
4
GreatSchools Rating
 

$359,999$439,999$399,999

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,476
Property Tax -$366
Property Insurance -$56
Property Management Fees -$116
CASH FLOW
-$44

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.

$399,999

PROJECTED PRICE

$1,970

PROJECTED RENT

0.49%

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$25,835

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,9503$1,970
$1,970
RENT COMPS ANALYSIS
  • 17986 Ramona Avenue Fontana, CA 3
    • 3 beds 2 baths ∙ 1,179 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,179 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.67
    •  
  • 7399 Kempster Avenue Fontana, CA 1
    • 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1983
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.40
    •  
  • 6757 Jade Court Fontana, CA 2
    • 3 beds 3 baths ∙ 1,415 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,415 Sqft ∙ Built 1986
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.38
    •  
PROPERTY LISTING DETAILS
Oscar Interiano
Omi & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21000199
Last Updated: 01/02/2021
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