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6689 Ohare Court Fontana, CA 92336

3 Beds 2 Baths 1,954 sqft Built 1998

$539,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $275.84
  • 5 Days on Market
  • MLS # : CV21050640
  • Updated Date : 03/12/2021 at 17:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,954 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Click on the link for a 3D tour- https://unbranded.youriguide.com/6689_o_hare_ct_fontana_ca/ Welcome to 6689 O'Hare Ct! Single Story Home located in a highly desirable neighborhood in North Fontana! Formal dining and living room as you enter the home with tall ceilings and lots of natural light. Bright open kitchen with an island, a breakfast nook, and lots of counter space! The kitchen opens up into the cozy family room with a fireplace. Large master bedroom with a walk in closet and ensuite! This home also features 2 bedrooms, a full hall bathroom, and a laundry room. Close to 210 & 15 freeways, shopping centers, parks, schools, and Victoria Gardens Mall. Zoned for Etiwanda School District!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: California Landings

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $148k586k

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

Neighborhood: California Landings

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822496

* 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
Cecilia L. Solorio Elementary School Primary Regular 894 36 7
Heritage Intermediate School Middle Regular 1,240 48 8
Etiwanda High School High Regular 3,458 126 8

Cecilia L. Solorio Elementary School

  • Education Level: Primary
  • # of students: 894
  • # of teachers: 36
7
GreatSchools Rating

Heritage Intermediate School

  • Education Level: Middle
  • # of students: 1,240
  • # of teachers: 48
8
GreatSchools Rating

Etiwanda High School

  • Education Level: High
  • # of students: 3,458
  • # of teachers: 126
8
GreatSchools Rating
 

$485,100$592,900$539,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,872
Property Tax -$637
Property Insurance -$75
Property Management Fees -$139
CASH FLOW
-$372

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.

$539,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$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$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,872

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$7,261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,486

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,5004$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 6689 Ohare Court Fontana, CA 1
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.20
    •  
  • 15245 Yeager Avenue Fontana, CA 2
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 1997
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.29
    •  
  • 6730 Gabels Crest Way Fontana, CA 3
    • 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2001
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.35
    •  
  • 7377 Elderberry Court Fontana, CA 4
    • 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 2003
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.24
    •  
  • 7167 Andrea Street Fontana, CA 5
    • 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 1999
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.21
    •  
PROPERTY LISTING DETAILS
Lisa Di Noto
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21050640
Last Updated: 03/12/2021
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