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7501 Foxfire Lane Fontana, CA 92336

5 Beds 3 Baths 2,806 sqft Built 2006

$575,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $204.92
  • 6 Days on Market
  • MLS # : CV21017307
  • Updated Date : 01/26/2021 at 21:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,806 sqft
  • Baths : 3 full
Listing Agent

Re/max Time Realty

Listing Agent's Description

This highly desirable corner lot home is conveniently located near the 210 Freeway and the 15 Freeway: only minutes away from many attractions, shopping centers, and plazas! Choose between Victoria Gardens (only 4 miles away) or the Ontario Mills Mall (7 miles away) for those small family getaways during the weekend! This home offers 5 Bedrooms and 3 Full Bathrooms; you will find one Full Sized Bedroom and one FULL sized Bathroom located downstairs along with 4 Large Bedrooms and 2 Full Bathrooms upstairs. The kitchen is the best part: recently installed Quartz Countertops along with a beautiful Backsplash, Stainless Steel Appliances, Dual Oven, 5 Burner Cooktop, Dishwasher, and a Deep Stainless Steel Under Mount Kitchen Sink. Window Shutters and Wood Flooring throughout the entire home, you won't find a single piece of carpet here! This home also contains it's own separate laundry room which is conveniently located downstairs. The backyard contains concrete throughout along with a slab type garden for that finishing touch of your own. Come take a look at this home before it's too late!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$1,997
Property Tax -$608
Property Insurance -$95
Property Management Fees -$158
CASH FLOW
-$179

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.

$575,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.47%

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$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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$21,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,764

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6803$2,6954$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 7501 Foxfire Lane Fontana, CA 2
    • 5 beds 3 baths ∙ 2,806 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,806 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.96
    •  
  • 7458 Lime Avenue Fontana, CA 1
    • 5 beds 3 baths ∙ 2,676 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,676 Sqft ∙ Built 2002
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 7270 Avocado Court Fontana, CA 3
    • 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2007
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.99
    •  
  • 15131 Red Sox Circle Fontana, CA 4
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2007
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.98
    •  
  • 15341 Palm Leaf Lane Fontana, CA 5
    • 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2006
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Raad Shalabi
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21017307
Last Updated: 01/26/2021
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