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7102 Abigail Place 
Fontana, CA
92336
4 Beds 3 Baths 2,230 sqft
Built 2003
INVESTimate
$499,999
List Price
$138,250
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PROPERTY INFO
FACTS
- Built In 2003
- Price/Sqft : $224.21
- 7 Days on Market
- MLS # : CV20166257
- Updated Date : 08/25/2020 at 14:11
CONSTRUCTION
- Beds : 4
- Floor Size : 2,230 sqft
- Baths : 2 full , 1 half
Listing Agent
Century 21 Citrus Realty Inc
Listing Agent's Description
This beautiful two-story home in North Fontana, located on a cul-de-sac, boasts of a captivating curb appeal with matured palm trees. When you enter the front door, the cozy living room will greet you. It features a fireplace where your family can gather around, drinking cocoa, during those cold winter nights. The family room opens to the kitchen perfect for those big family gatherings. The spotless kitchen offers a large island with ample cabinetry for storage. When you open the glass doors from the kitchen, you will find a gorgeous backyard, ideal for entertaining. It features a covered patio, a built-in grill, and the perfect ending to a long workday – an above ground spa. Walking up the stairs, you will find a wooden-floored loft that you can turn into a TV room, a game room, or even an office - whatever suits your needs. The spacious master en suite highlights a newly upgraded walk-in shower, a bathtub, and a well-appointed master closet. The laundry room is also conveniently located upstairs. Pride of ownership is seen everywhere in this home. Close to Shopping, Parks, and Freeway Access. You wouldn’t want to miss it!
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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: Rancho Fontana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rancho Fontana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,400 |
| EXPENSES | Loan Payment | -$1,845 |
| Property Tax | -$531 | |
| Property Insurance | -$81 | |
| Property Management Fees | -$142 | |
|
CASH FLOW
-$198
|
||
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.
$499,999
PROJECTED PRICE
$2,400
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.16% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$138,250
LOAN DETAILS
$1,845
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $125,000 |
| Loan Amount | $374,999 |
3.67
YEARS SAVED
$20,189
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,400
LIST RENT -
$1.08
LIST RENT PER SQFT
-
$2,537
COMP ESTIMATED VALUE -
$1.14
COMP AVG. RENT PER SQFT
Comps Range
-
7102 Abigail Place Fontana, 3
- 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2003
- Rent
- Rent Per SQFT
- $2,400
- $1.08
-
15935 Allison Way Fontana, 1
- 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 2006
LEASED 09/11/19- Rent
- Rent Per SQFT
- $2,300
- $1.12
-
6957 Irene Court Fontana, 2
- 5 beds 2 baths ∙ 2,045 Sqft ∙ Built 2000 5 beds 2 baths ∙ 2,045 Sqft ∙ Built 2000
LEASED 12/01/19- Rent
- Rent Per SQFT
- $2,300
- $1.12
-
6963 Tailwind Lane Fontana, 4
- 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2002
LEASED 09/26/19- Rent
- Rent Per SQFT
- $2,550
- $1.14
-
7143 Helena Place Fontana, 5
- 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2004
LEASED 07/13/20- Rent
- Rent Per SQFT
- $2,600
- $1.17
PROPERTY LISTING DETAILS
Century 21 Citrus Realty Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20166257
Last Updated: 08/25/2020
