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7444 Tangelo Avenue Fontana, CA 92336

3 Beds 3 Baths 1,560 sqft Built 1979

$395,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $253.21
  • 3 Days on Market
  • MLS # : PW20239496
  • Updated Date : 11/13/2020 at 22:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 2 full , 1 half
Listing Agent

Alborada Real Estate

Listing Agent's Description

Spacious 3 bedroom-2 Bath, Large yard, Close to Elementray School, must see!

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
Locust Elementary School Primary Regular 497 19 2
Alder Middle School Middle Regular 1,167 48 2
Fontana A. B. Miller High School High Regular 2,352 112 4

Locust Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 19
2
GreatSchools Rating

Alder Middle School

  • Education Level: Middle
  • # of students: 1,167
  • # of teachers: 48
2
GreatSchools Rating

Fontana A. B. Miller High School

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

$355,500$434,500$395,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,457
Property Tax -$419
Property Insurance -$65
Property Management Fees -$116
CASH FLOW
-$88

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.

$395,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$20,333

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,001

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,970
1$1,9702$2,0003$2,0004$2,1005$2,400
$2,400
RENT COMPS ANALYSIS
  • 7444 Tangelo Avenue Fontana, CA 1
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.26
    •  
  • 17785 Mesa Road Fontana, CA 2
    • 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
  • 7360 Evergreen Avenue Fontana, CA 3
    • 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
  • 18234 Fairview Drive Fontana, CA 4
    • 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 1987
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.36
    •  
  • 7641 Rosecrest Lane Fontana, CA 5
    • 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1990
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.41
    •  
PROPERTY LISTING DETAILS
Faviola Jaime
Alborada Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20239496
Last Updated: 11/13/2020
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