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7332 Saddlewood Drive Fontana, CA 92336

3 Beds 3 Baths 2,021 sqft Built 2017

$525,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $259.77
  • 6 Days on Market
  • MLS # : CV21022296
  • Updated Date : 02/02/2021 at 19:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,021 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

Excellent opportunity to own this beautiful two story Lennar Home located in North Fontana built 2017. This home features a great open floor plan with a large family room, large kitchen with family dining area, a spacious pantry, stainless steel appliances, 3 very spacious bedrooms which include ceiling fans, the master bedroom has two walk-in closets, two full bathrooms with glass sliding door shower and bath tub, master bathroom includes dual sinks, one half bath downstairs, laundry room conveniently located upstairs. It also offers some of the great energy saving features that Lennar Homes are known for such as tankless water heater, solar panels, recessed lights, data wired ready, water conserving faucets. Other features include Cheyenne smooth 2-panel camber top plank doors, custom window shutters and sliding vertical blinds. Exterior features include 2 car garage with direct access to interior, front porch, large front yard landscaped with drought tolerant plants, automatic sprinkler system with self shut off sensor, extra large back yard with a recently added concrete slab patio and two brick planters, brick fence all throughout. Located at the end of the cut-de-sac this home sits on a 8860 sq ft lot. Community features include a park and dog park nearby, close proximity to shopping centers, schools, and freeways. The best of all features, NO HOA makes this home a must have! Come see for yourself!

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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: Fontana

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k479k

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

Neighborhood: Fontana

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112139

* 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
Mango Elementary School Primary Regular 628 24 3
Wayne Ruble Middle School Middle Regular 1,168 47 5
Fontana A. B. Miller High School High Regular 2,352 112 4

Mango Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 24
3
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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,824
Property Tax -$488
Property Insurance -$76
Property Management Fees -$140
CASH FLOW
-$157

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.

$525,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$19,265

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,375

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3703$2,4004$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 7332 Saddlewood Drive Fontana, CA 2
    • 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.17
    •  
  • 16462 Pine Forest Street Fontana, CA 1
    • 3 beds 3 baths ∙ 1,893 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,893 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.21
    •  
  • 7064 Red Berry Way Fontana, CA 3
    • 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 2017
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 16931 Montgomery Avenue Fontana, CA 4
    • 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 2017
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.19
    •  
  • 6965 Bella Strada Drive Fontana, CA 5
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 2017
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.20
    •  
PROPERTY LISTING DETAILS
Maricela Ramirez
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21022296
Last Updated: 02/02/2021
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