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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $351.72
- 4 Days on Market
- MLS # : CV20264644
- Updated Date : 01/01/2021 at 13:33
CONSTRUCTION
- Beds : 3
- Floor Size : 1,396 sqft
- Baths : 2 full
Listing Agent
Realty One Group West
Listing Agent's Description
Amazing Rancho Fontana property tucked in the west side of the neighborhood on one of the flower streets and within walking distance to Hemlock Elementary School. Plenty of up-grades and remodeling to appease the fussiest buyer....Kitchen remodeled in 2015 with new cabinets, granite counters, glass backsplash, sink/faucet/disposal, pendant lighting..hall bath with tile, cabinet, counter, sink, paint & lighting..master bath with cabinet, granite counter, lighting & barn door entry. Additional upgrades & improvements include dual paned windows & sliders, HVAC system in 2012, laminate flooring, water heater in 2017, recessed and dimmable lighting in living room-kitchen-bedrooms & master bath, ceiling fans in the kitchen and all three bedrooms. Upgraded fireplace face, hearth and mantel creates a perfect living room focal point to center gatherings around. Beautiful 5" baseboard throughout the entire house provides a perfect contrast between the laminate flooring, carpeting, tile and wall paint. Crown molding in east bedroom offers a wonderful touch to the princess room or home office. Front and rear yards are completely landscaped with auto sprinklers and retaining wall that wraps around the front of the house down along the side. Concrete RV parking was installed in 2015 and extends down nearly the entire north side of the lot with wrought iron & wood entry gates attached to support pillars with drainage and retaining wall. Full house alarm monitoring system.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rancho Fontana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,200 |
| EXPENSES | Loan Payment | -$1,812 |
| Property Tax | -$521 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$130 | |
|
CASH FLOW
-$323
|
||
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.
$491,000
PROJECTED PRICE
$2,200
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$135,865
LOAN DETAILS
$1,812
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $122,750 |
| Loan Amount | $368,250 |
2.42
YEARS SAVED
$10,802
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,200
LIST RENT -
$1.58
LIST RENT PER SQFT
-
$1,937
COMP ESTIMATED VALUE -
$1.39
COMP AVG. RENT PER SQFT
Comps Range
-
7550 Mums Court Fontana, CA 2
- 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1990
![property image]()
- Rent
- Rent Per SQFT
- $2,200
- $1.58
-
7608 Plumaria Drive Fontana, CA 1
- 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
![property image]()
LEASED 10/20/19- Rent
- Rent Per SQFT
- $2,180
- $1.35
-
7645 Sun Petal Court Fontana, CA 3
- 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
![property image]()
LEASED 10/18/20- Rent
- Rent Per SQFT
- $2,295
- $1.42
-
7634 Plumaria Drive Fontana, CA 4
- 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
![property image]()
LEASED 07/08/20- Rent
- Rent Per SQFT
- $2,300
- $1.42
-
14665 Arizona Street Fontana, CA 5
- 4 beds 2 baths ∙ 1,723 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,723 Sqft ∙ Built 1998
![property image]()
LEASED 07/11/19- Rent
- Rent Per SQFT
- $2,350
- $1.36
PROPERTY LISTING DETAILS
Realty One Group West
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20264644
Last Updated: 01/01/2021
