Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7510 Citrus Avenue Fontana, CA 92336

4 Beds 2 Baths 1,339 sqft Built 1979

INVESTimate

$415,000

List Price

$1,930

$1,737 - $2,123

Rent Est.

$441,311  ( +6.34%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1979
  • Price/Sqft : $309.93
  • 10 Days on Market
  • MLS # : CV20167661
  • Updated Date : 08/24/2020 at 09:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,339 sqft
  • Baths : 2 full
Listing Agent

Standing Stone Real Estate

Listing Agent's Description

Cute starter home located in North Fontana just south of Baseline Ave. Home offers 4 bedrooms 2 bathrooms and plenty of backyard space with a 9,480 sq ft lot. Owners have taken great care of this home and it is ready for next growing family. Home is minutes to the 210 fwy, Costco Shopping center, Sierra Lakes Golf Course, and a short drive to Victoria Gardens outdoor mall. With us spending so much time at home this backyard is perfect for the kids to run around in. Custom concrete work to cut down on watering costs and also a patio to enjoy on those sunny days.

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

Zip Code: 92336

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k526k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 92336

ZipNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822424

* 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
Tokay Elementary School Primary Regular 580 21 3
Almeria Middle School Middle Regular 833 38 3
Fontana A. B. Miller High School High Regular 2,352 112 4

Tokay Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 21
3
GreatSchools Rating

Almeria Middle School

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

Fontana A. B. Miller High School

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

$373,500$456,500$415,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,531
Property Tax -$441
Property Insurance -$60
Property Management Fees -$114
CASH FLOW
-$215

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.

$415,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.34%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$12,758

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $1,898

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8953$1,9304$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 7510 Citrus Avenue Fontana, 3
    • 4 beds 2 baths ∙ 1,339 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,339 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.44
    •  
  • 7399 Kempster Avenue Fontana, 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
    •  
  • 15673 Barbee Street Fontana, 2
    • 4 beds 3 baths ∙ 1,338 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,338 Sqft ∙ Built 1986
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.42
    •  
  • 7634 Plumaria Drive Fontana, 4
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.42
    •  
  • 7430 Jacaranda Avenue Fontana, 5
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1992
    LEASED 03/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.43
    •  
PROPERTY LISTING DETAILS
Adrian Alvarado
Standing Stone Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20167661
Last Updated: 08/24/2020
BESbswy