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7383 Topanga Avenue Fontana, CA 92336

4 Beds 3 Baths 2,752 sqft Built 2007

$518,925

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $188.56
  • 7 Days on Market
  • MLS # : WS20228122
  • Updated Date : 10/29/2020 at 05:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,752 sqft
  • Baths : 2 full , 1 half
Listing Agent

Grand City Realty, Inc.

Listing Agent's Description

Well maintained 2 story North Fontana single family home with 3 car garage and no HOA. Downstairs has high ceiling entrance with living room, family room, half bathroom, granite kitchen, a bedroom converted from the extra large family room. Downstairs also has laundry room and direct access to 3 car garages. Upstairs has a good size den that can be used as an office/bedroom/entertainment area. Also upstairs has 4 bedrooms, 2 full bathrooms. Master bedroom has good size walk in closet. Whole house has newer wood flooring downstairs and upstairs, except stairs which have upgraded carpet. Security camera system installed to stay with the house, valued at $3500. Two AC Dual Zone, one for upstairs and one for downstairs. Also house has recessed lightings throughout including at the bedrooms. Comes with decent size front yard and back yard with multiple mature fruit trees. Located in a convenient location near schools, shopping, and park.

SEE MORE

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
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
 

$467,033$570,818$518,925

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,915
Property Tax -$551
Property Insurance -$94
Property Management Fees -$151
CASH FLOW
-$150

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.

$518,925

PROJECTED PRICE

$2,560

PROJECTED RENT

0.49%

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$143,265

INVESTMENT

$143,265

Down Payment
$129,731
Rehab Estimate
$5,750
Closing Costs
$7,784

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,731
Loan Amount $389,194
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$23,882

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,786

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,560
1$2,5602$2,6003$2,6004$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 7383 Topanga Avenue Fontana, CA 1
    • 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.93
    •  
  • 16930 San Jacinto Fontana, CA 2
    • 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 2017
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.00
    •  
  • 15945 Serenade Lane Fontana, CA 3
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.00
    •  
  • 16524 Cadence Lane Fontana, CA 4
    • 4 beds 3 baths ∙ 2,852 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,852 Sqft ∙ Built 2014
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.98
    •  
  • 7025 Springtime Avenue Fontana, CA 5
    • 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2007
    property image
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
Tim Hui
Grand City Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20228122
Last Updated: 10/29/2020
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