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6894 Wheeler Court Fontana, CA 92336

3 Beds 3 Baths 1,415 sqft Built 1985

INVESTimate

$433,980

List Price

$1,970

$1,773 - $2,167

Rent Est.

$463,057  ( +6.70%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $306.70
  • 5 Days on Market
  • MLS # : IV20172467
  • Updated Date : 08/24/2020 at 05:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,415 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Come by! At the end of the cul-de-sac you'll find this 3 bedroom 2.5 bath home with a large landscaped front yard great for entertaining and a gate for RV access or to open up and join the backyard and front yard for even more entertaining space. The living room is carpeted, warm gray toned paint, cathedral ceilings and a gas fireplace. The dinning room has a sliding door with access and views to the beautifully landscaped backyard. The kitchen has a huge bay window that overlooks the backyard, stainless steel appliances and white cabinets. Theres a second dinning/sitting room off the kitchen with another sliding door that leads to the concrete side patio/RV area. Next you'll find a half bath before you enter the 2 car garage where the laundry hook ups are located. All of the bedrooms are located up an extra wide staircase with upgraded carpeting. The master suite faces the front of the home with a walk in closet. The 2nd and 3rd bedrooms share a hall bathroom, have views of the backyard and can fit full/queen size beds. At the end of the open hallway is a nice size loft that overlooks the living room. This is perfect for an extra living room, play area, home office or can be used as a 4th bedroom! You can find this home located above Baseline less than a mile from the 210 frwy. Close by Sierra Lakes shopping center, Home Depot, Costco, Sprouts and the new Highland Village Shopping Center. Come join the growing Fontana community!!

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: Walnut Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k470k

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

Neighborhood: Walnut Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200Rent in $10822210

* 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
Kordyak Elementary School Primary Regular 480 16 5
Kucera Middle School Middle Regular 1,218 45 2
Carter High School High Regular 2,412 98 6

Kordyak Elementary School

  • Education Level: Primary
  • # of students: 480
  • # of teachers: 16
5
GreatSchools Rating

Kucera Middle School

  • Education Level: Middle
  • # of students: 1,218
  • # of teachers: 45
2
GreatSchools Rating

Carter High School

  • Education Level: High
  • # of students: 2,412
  • # of teachers: 98
6
GreatSchools Rating
 

$390,582$477,378$433,980

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,601
Property Tax -$496
Property Insurance -$61
Property Management Fees -$116
CASH FLOW
-$305

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.

$433,980

PROJECTED PRICE

$1,970

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.70%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,755

INVESTMENT

$120,755

Down Payment
$108,495
Rehab Estimate
$5,750
Closing Costs
$6,510

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,601

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,495
Loan Amount $325,485
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,012

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
  • $1.39

    LIST RENT PER SQFT
  • $2,006

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9703$2,2004$2,2005$2,350
$2,350
RENT COMPS ANALYSIS
  • 6894 Wheeler Court Fontana, 2
    • 3 beds 3 baths ∙ 1,415 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,415 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.39
    •  
  • 6757 Jade Court Fontana, 1
    • 3 beds 3 baths ∙ 1,415 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,415 Sqft ∙ Built 1986
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.38
    •  
  • 17142 Fern Street Fontana, 3
    • 4 beds 3 baths ∙ 1,547 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,547 Sqft ∙ Built 1990
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.42
    •  
  • 17262 Dolphin Street Fontana, 4
    • 4 beds 3 baths ∙ 1,567 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,567 Sqft ∙ Built 1988
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.40
    •  
  • 17234 Walnut Avenue Fontana, 5
    • 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 1986
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.47
    •  
PROPERTY LISTING DETAILS
Jvonne Peeplez
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20172467
Last Updated: 08/24/2020
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