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7123 Petaluma Drive Fontana, CA 92336

4 Beds 4 Baths 2,997 sqft Built 2006

$569,900

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $190.16
  • 5 Days on Market
  • MLS # : TR21055871
  • Updated Date : 03/20/2021 at 05:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,997 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Top Producers

Listing Agent's Description

Need space? This large 4 bedroom with possible to erect walls and make it a 5-6 bedroom home with 3.5 bath is the perfect home. Property exterior features mature landscaping, Spanish tile room, a large patio, secures AC condensers, room for a dog run, a shed and a large rear lawn. Interior features include 2 stories, with the first story offering a downstairs bedroom with it's own private bath, a spacious living room, a family room with a fireplace open to the kitchen area that features a pantry, indoor laundry room and direct access to a 2 car garage. The second level features a large master bedroom with a shower, bath tub, dual sinks, private stall and a walk in closet. Take your entertainment upstairs as the loft area is a perfect spot, two additional bedrooms, a community bathroom and a spacious office space completes the second level. Conveniently located near shopping, freeways and in a neighborhood that takes pride in their houses.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 92336

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k526k

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

Zip Code: 92336

ZipNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822424

* 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
Kathy Binks Elementary School Primary Regular 616 22 4
Wayne Ruble Middle School Middle Regular 1,168 47 5
Fontana A. B. Miller High School High Regular 2,352 112 4

Kathy Binks Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 22
4
GreatSchools Rating

Wayne Ruble Middle School

  • Education Level: Middle
  • # of students: 1,168
  • # of teachers: 47
5
GreatSchools Rating

Fontana A. B. Miller High School

  • Education Level: High
  • # of students: 2,352
  • # of teachers: 112
4
GreatSchools Rating
 

$512,910$626,890$569,900

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$1,979
Property Tax -$603
Property Insurance -$100
Property Management Fees -$159
CASH FLOW
-$151

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.

$569,900

PROJECTED PRICE

$2,690

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$156,774

INVESTMENT

$156,774

Down Payment
$142,475
Rehab Estimate
$5,750
Closing Costs
$8,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,979

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,475
Loan Amount $427,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$22,981

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,847

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6903$2,8004$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 7123 Petaluma Drive Fontana, CA 2
    • 4 beds 4 baths ∙ 2,997 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,997 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.90
    •  
  • 6182 N Kingsmill Court Fontana, CA 1
    • 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2005
    LEASED 10/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.94
    •  
  • 16524 Cadence Lane Fontana, CA 3
    • 4 beds 3 baths ∙ 2,852 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,852 Sqft ∙ Built 2014
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.98
    •  
  • 16749 Buttonwood Ln Fontana, CA 4
    • 4 beds 3 baths ∙ 3,107 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,107 Sqft ∙ Built 2016
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.93
    •  
  • 16437 Pine Wood Street Fontana, CA 5
    • 4 beds 3 baths ∙ 3,170 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,170 Sqft ∙ Built 2006
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Trinidad Gaeta
Re/max Top Producers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21055871
Last Updated: 03/20/2021
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