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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $421.18
- 4 Days on Market
- MLS # : CV21008894
- Updated Date : 01/15/2021 at 22:39
CONSTRUCTION
- Beds : 3
- Floor Size : 902 sqft
- Baths : 1 full
Listing Agent
Re/max Innovations
Listing Agent's Description
Remodeled single-story in Fontana. 3 bed and 1 bath all new paint with recessed lighting, and luxury vinyl floors. Open kitchen and island with lots of new cabinetry in the kitchen, quartz countertops and subway tile backsplash. Living room. New vanity with Quartz countertops with tile shower in bathroom. New carpet in bedrooms. Central air and heat. Big backyard with covered patio. 2 car attached garage. Close to parks, shopping, and freeways.
SEE MORE
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
Zip Code: 92335
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92335
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,930 |
| EXPENSES | Loan Payment | -$1,320 |
| Property Tax | -$348 | |
| Property Insurance | -$49 | |
| Property Management Fees | -$114 | |
|
CASH FLOW
$100
|
||
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.
$379,900
PROJECTED PRICE
$1,930
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 9.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| 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
$106,424
LOAN DETAILS
$1,320
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $94,975 |
| Loan Amount | $284,925 |
7.17
YEARS SAVED
$33,291
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 -
$2.14
LIST RENT PER SQFT
-
$1,984
COMP ESTIMATED VALUE -
$2.2
COMP AVG. RENT PER SQFT
Comps Range
-
8286 Live Oak Avenue Fontana, CA 1
- 3 beds 1 baths ∙ 902 Sqft ∙ Built 1953 3 beds 1 baths ∙ 902 Sqft ∙ Built 1953
![property image]()
- Rent
- Rent Per SQFT
- $1,930
- $2.14
-
9163 Beech Avenue Fontana, CA 2
- 3 beds 1 baths ∙ 954 Sqft ∙ Built 1954 3 beds 1 baths ∙ 954 Sqft ∙ Built 1954
![property image]()
LEASED 07/31/19- Rent
- Rent Per SQFT
- $2,100
- $2.20
PROPERTY LISTING DETAILS
Re/max Innovations
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21008894
Last Updated: 01/15/2021
