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7071 Sultana Avenue Fontana, CA 92336

3 Beds 2 Baths 1,723 sqft Built 1999

$550,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $319.21
  • 8 Days on Market
  • MLS # : 533327
  • Updated Date : 03/24/2021 at 18:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,723 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Beautiful single story home in the city of Fontana Featuring 3 bedrooms and 2 baths this cozy home is situated in a highly desired community, built in 1999 this home has been kept in great condition, was fully remodeled in 2019 with all new exterior paint, rich laminate wood flooring, tile flooring in the kitchen & baths, and plush carpet and fans in the bedrooms! Upon entering, you are greeted with high vaulted ceilings and a dual room fireplace that flows into the formal dining room AND living room, The kitchen is finished with dark panel cabinets, gorgeous quartz counters, and newer stainless steel appliances including gas stove/ oven, breakfast bar, microwave, and dishwasher. Each bathroom has its charm as well with framed mirrors, tile flooring, and accent fixtures & vanities. This home offers a two car garage, the front and back yard have automatic sprinklers ,shaded patio in the backyard, and so much more! Come and see this beauty. Association Amenities: None # of RV Spaces: 0NONE Lot Location Type: Standard Location Special Features: None # of Attached Spaces: 2 # of Detached Spaces: 0

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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: Rancho Fontana

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $148k584k

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

Neighborhood: Rancho Fontana

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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,910
Property Tax -$658
Property Insurance -$69
Property Management Fees -$132
CASH FLOW
-$529

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.

$550,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.2%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,266

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,240
1$2,2402$2,3003$2,4004$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 7071 Sultana Avenue Fontana, CA 1
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.30
    •  
  • 6948 Lisa Drive Fontana, CA 2
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2004
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.30
    •  
  • 15245 Yeager Avenue Fontana, CA 3
    • 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
    •  
  • 7541 Mums Court Fontana, CA 4
    • 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1990
    LEASED 03/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.32
    •  
  • 6730 Gabels Crest Way Fontana, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Jose Rodriguez
Berkshire Hathaway Homeservice
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 533327
Last Updated: 03/24/2021
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