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7341 Mandrake Court Fontana, CA 92336

3 Beds 2 Baths 1,765 sqft Built 2003

$505,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $286.12
  • 5 Days on Market
  • MLS # : CV21044424
  • Updated Date : 03/04/2021 at 14:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,765 sqft
  • Baths : 2 full
Listing Agent

California Prime Real Estate

Listing Agent's Description

Do not miss out this is the home for you. Excellent Fontana location. This home features 3 bedrooms 2 baths, large family room that opens to a gorgeous granite kitchen. Manicured backyard with a very nice patio perfect for entertaining. It also has a 2 car garage and indoor laundry. Close to everything schools, churches, public transportation and fwy.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Hemlock Elementary School Primary Regular 434 17 4
Almeria Middle School Middle Regular 833 38 3
Summit High School High Regular 2,606 108 6

Hemlock Elementary School

  • Education Level: Primary
  • # of students: 434
  • # of teachers: 17
4
GreatSchools Rating

Almeria Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 38
3
GreatSchools Rating

Summit High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 108
6
GreatSchools Rating
 

$454,500$555,500$505,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,754
Property Tax -$536
Property Insurance -$70
Property Management Fees -$133
CASH FLOW
-$233

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.

$505,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.45%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,286

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,260
1$2,2602$2,3003$2,4004$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 7341 Mandrake Court Fontana, CA 1
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.28
    •  
  • 6948 Lisa Drive Fontana, CA 2
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2004
    property image
    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
    property image
    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
    property image
    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
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.24
    •  
PROPERTY LISTING DETAILS
Maria De Lou Aleman
California Prime Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21044424
Last Updated: 03/04/2021
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