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8269 Cherimoya Avenue Fontana, CA 92335

3 Beds 2 Baths 1,579 sqft Built 1957

$430,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $272.32
  • 3 Days on Market
  • MLS # : TR21046971
  • Updated Date : 03/05/2021 at 22:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,579 sqft
  • Baths : 1 full , 1 half
Listing Agent

Valencia Realty

Listing Agent's Description

Perfect for a large family or investors. An upgraded kitchen, Laundry room, master cooler in living room window, water softener, 2 septic tanks, an a very large lot., Rail gate on the driveway, Great location easy access to 210 freeway.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Fontana

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k479k

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

Neighborhood: Fontana

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112139

* 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
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,494
Property Tax -$393
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
$99

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.

$430,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$36,329

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $2,349

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9453$2,1804$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 8269 Cherimoya Avenue Fontana, CA 3
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.38
    •  
  • 9005 Citrus Avenue Fontana, CA 1
    • 3 beds 1 baths ∙ 1,505 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,505 Sqft ∙ Built 1949
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.26
    •  
  • 7476 Lemon Street Fontana, CA 2
    • 4 beds 2 baths ∙ 1,273 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,273 Sqft ∙ Built 1973
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.53
    •  
  • 16219 Owen Street Fontana, CA 4
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1970
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.63
    •  
  • 9134 Kaiser Avenue Fontana, CA 5
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1963
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.53
    •  
PROPERTY LISTING DETAILS
Irma Valencia
Valencia Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21046971
Last Updated: 03/05/2021
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