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7685 Almeria Avenue Fontana, CA 92336

5 Beds 3 Baths 1,858 sqft Built 1985

$525,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $282.56
  • 3 Days on Market
  • MLS # : CV21004778
  • Updated Date : 01/09/2021 at 19:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,858 sqft
  • Baths : 3 full
Listing Agent

Kw College Park

Listing Agent's Description

Like new home without the new price! No Mello Roos and no HOA!!! With a pool and spa also! Great family home in Fontana has been TOTALLY remodeled and is ready for your family with 5 spacious bedrooms and 3 baths PLUS a pool/spa with a roomy yard. 1 bedroom and 1 full BATH downstairs which is very rare! Cathedral ceilings. Living Room, Family Room, Formal Dining Room. Fireplace in Living Room. Skylight. Walk-in closet in master bedroom. Low-E dual pane windows and sliders throughout. 2 car attached garage + space for 2 more cars on the driveway. Enjoy a swim in your private in-ground pool or relax in your in-ground spa. Tons of work done on the pool + spa as well: Acid Wash, Timer repaired, new drain covers, new spa light, valve repaired. Grow a garden, build a play structure or install a swing set; endless possibilities for your backyard! Thousands of dollars in upgrades including: Brand new carpet, brand new flooring throughout entire home, brand new tile in all bathrooms, brand new quartz counters in kitchen, brand new cooking range, brand new modern chandelier in dining room, brand new garage door + opener, brand new water heater. Brand new paint throughout, interior and exterior. New landscaping, new sod & new sprinkler system in front yard. Termite certified. All the expensive work has been done. Close to schools, shopping and 210 Freeway. Hurry! Won’t last long at this great price!

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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,824
Property Tax -$557
Property Insurance -$72
Property Management Fees -$143
CASH FLOW
-$166

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.

$525,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$19,269

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,378

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4303$2,4954$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 7685 Almeria Avenue Fontana, CA 2
    • 5 beds 3 baths ∙ 1,858 Sqft ∙ Built 1985 5 beds 3 baths ∙ 1,858 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.31
    •  
  • 7620 Concord Avenue Fontana, CA 1
    • 4 beds 3 baths ∙ 1,858 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,858 Sqft ∙ Built 1985
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.24
    •  
  • 7640 Newberry Lane Fontana, CA 3
    • 5 beds 2 baths ∙ 1,977 Sqft ∙ Built 2002 5 beds 2 baths ∙ 1,977 Sqft ∙ Built 2002
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.26
    •  
  • 7766 Mariners Way Fontana, CA 4
    • 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2003
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.26
    •  
  • 15828 Margarita Fontana, CA 5
    • 4 beds 3 baths ∙ 1,946 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,946 Sqft ∙ Built 1999
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.36
    •  
PROPERTY LISTING DETAILS
Brenda Geraci
Kw College Park
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21004778
Last Updated: 01/09/2021
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