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7399 Blanchard Avenue Fontana, CA 92336

3 Beds 2 Baths 1,260 sqft Built 1982

$399,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $316.67
  • 5 Days on Market
  • MLS # : AR20240448
  • Updated Date : 11/26/2020 at 13:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 2 full
Listing Agent

Dilbeck Real Estate

Listing Agent's Description

This property is located in North Fontana and is ready for new owner. The home offers three bedrooms and two bathrooms. One of the three bedrooms is an "in-suite" bedroom. Nice sized living room with a fireplace and opens to the dining area. Kitchen does open to the dining area. Great view of the back yard from the large kitchen window above the sink. This home is spacious and comfortable. Direct access from the garage into the home.

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

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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,472
Property Tax -$424
Property Insurance -$58
Property Management Fees -$103
CASH FLOW
-$316

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.

$399,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $1,764

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7403$1,9504$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 7399 Blanchard Avenue Fontana, CA 2
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.38
    •  
  • 7399 Kempster Avenue Fontana, CA 1
    • 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1983
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.40
    •  
  • 6757 Jade Court Fontana, CA 3
    • 3 beds 3 baths ∙ 1,415 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,415 Sqft ∙ Built 1986
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.38
    •  
  • 17142 Fern Street Fontana, CA 4
    • 4 beds 3 baths ∙ 1,547 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,547 Sqft ∙ Built 1990
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.42
    •  
  • 17262 Dolphin Street Fontana, CA 5
    • 4 beds 3 baths ∙ 1,567 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,567 Sqft ∙ Built 1988
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.40
    •  
PROPERTY LISTING DETAILS
Melsyne Brown
Dilbeck Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR20240448
Last Updated: 11/26/2020
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