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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $298.83
- 6 Days on Market
- MLS # : CV21017115
- Updated Date : 01/28/2021 at 11:39
CONSTRUCTION
- Beds : 4
- Floor Size : 1,874 sqft
- Baths : 2 full
Listing Agent
Realty World All Stars
Listing Agent's Description
Beautiful Single Story Home with Breathtaking Mountain Views in North Fontana! This 4 Bedroom home has an Open Floor Plan, High Ceilings, and Many Upgrades! Walk up to the Front Covered Porch and enter into the Living Room and Formal Dining area. Almost all of the flooring is newer throughout the home! Kitchen has many cabinets along with Large Island and built in Buffet! Granite Counter Tops with Stone Backsplash, Stainless Steel Microwave and Dishwasher, Large Stainless Steel Sink! Custom Tile work on Gas Fireplace! Master Bedroom is Large with access to the backyard! Master Bathroom has been completely remodeled with Flooring, a Custom Tile Shower and Built-in Custom Bench along with a Custom Vanity & Soft Close Drawers with Extra Storage, New Sinks & Faucets and Quartz Counter Tops! Walk-in-Closet has Custom Built-ins! Hall Bathroom completely remodeled with New Flooring, New Porcelain Tub, Tile & Glass bath/shower surround , and New Vanity! 4th Bedroom has Double Doors, open closet and this room can also be used as an office. Inside Laundry with cabinets. 3 Car Garage has Storage Rack added & EV Charging. Wait there is more! Smart Thermostat and Smart Sprinklers, Automatic Lighting for the front yard. 2020 Tesla Solar Panels that are rented. Rain Gutters have also been added! Beautiful Backyard with Mountain Views and Block walls! Alumawood Patio Cover, Swing Set Fort in the backyard with a Rock Wall etc... that will be a great play area for your little ones!
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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: Morningside
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Morningside
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,420 |
| EXPENSES | Loan Payment | -$1,945 |
| Property Tax | -$662 | |
| Property Insurance | -$73 | |
| Property Management Fees | -$143 | |
|
CASH FLOW
-$402
|
||
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.
$560,000
PROJECTED PRICE
$2,420
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 7.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$154,150
LOAN DETAILS
$1,945
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $140,000 |
| Loan Amount | $420,000 |
1.92
YEARS SAVED
$6,979
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,420
LIST RENT -
$1.29
LIST RENT PER SQFT
-
$2,413
COMP ESTIMATED VALUE -
$1.29
COMP AVG. RENT PER SQFT
Comps Range
-
7034 Nebraska Street Fontana, CA 3
- 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 1998
- Rent
- Rent Per SQFT
- $2,420
- $1.29
-
7050 Lucero Drive Fontana, CA 1
- 3 beds 3 baths ∙ 1,847 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,847 Sqft ∙ Built 2002
LEASED 01/24/20- Rent
- Rent Per SQFT
- $2,350
- $1.27
-
15245 Yeager Avenue Fontana, CA 2
- 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 1997
LEASED 09/09/20- Rent
- Rent Per SQFT
- $2,400
- $1.29
-
6730 Gabels Crest Way Fontana, CA 4
- 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2001
LEASED 06/07/20- Rent
- Rent Per SQFT
- $2,500
- $1.35
-
7377 Elderberry Court Fontana, CA 5
- 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 2003
LEASED 07/30/20- Rent
- Rent Per SQFT
- $2,600
- $1.24
PROPERTY LISTING DETAILS
Realty World All Stars
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21017115
Last Updated: 01/28/2021
