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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92336
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$144,875
LOAN DETAILS
$1,824
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $131,250 |
| Loan Amount | $393,750 |
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
-
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
Kw College Park
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21004778
Last Updated: 01/09/2021
