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8338 Buena Vista Drive Fontana, CA 92335

4 Beds 3 Baths 1,770 sqft Built 1993

$514,900

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $290.90
  • 3 Days on Market
  • MLS # : SR21009504
  • Updated Date : 01/15/2021 at 12:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,770 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max One

Listing Agent's Description

Stunning pool home in Fontana, title shows 3 bedrooms (seller purchased home as a 4 bed). This freshly painted home is located at the end of the street making it very quiet and peaceful. The high ceilings allows tons of natural light, the formal living room has a beautiful brick fireplace and lots of space to enjoy during the day and evening time. The kitchen has a breakfast bar, plenty of storage space, and is open to the formal dining room with a pool view. The sliding glass door opens up directly to the covered patio and pool area. There is also a bedroom, half bathroom & indoor laundry room with a side door to the patio on the main floor. Upstairs at the landing you have a cabinetry space for all your linen and double doors that open to the master bedroom under a vaulted ceilings. The master bathroom has dual sinks, bathtub and large closet. There are 2 additional bedrooms & a full bathroom. The exterior offers new exterior paint, a covered patio, heated pool & spa, freshly done lawn, newly repaired wooden fences, you must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 92335

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $114k470k

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

Zip Code: 92335

ZipNIR 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
Almond Elementary School Primary Regular 592 21 3
Almond Elementary School Middle Regular 592 21 3
Summit High School High Regular 2,606 108 6

Almond Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 21
3
GreatSchools Rating

Almond Elementary School

  • Education Level: Middle
  • # of students: 592
  • # of teachers: 21
3
GreatSchools Rating

Summit High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 108
6
GreatSchools Rating
 

$463,410$566,390$514,900

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,788
Property Tax -$470
Property Insurance -$70
Property Management Fees -$133
CASH FLOW
-$202

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.

$514,900

PROJECTED PRICE

$2,260

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,199

INVESTMENT

$142,199

Down Payment
$128,725
Rehab Estimate
$5,750
Closing Costs
$7,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,788

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,725
Loan Amount $386,175
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$15,534

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,323

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,260
1$2,2602$2,3003$2,3954$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 8338 Buena Vista Drive Fontana, CA 1
    • 4 beds 3 baths ∙ 1,770 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,770 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.28
    •  
  • 13688 Tioga Court Fontana, CA 2
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1988
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.34
    •  
  • 8081 Milan Court Fontana, CA 3
    • 4 beds 2 baths ∙ 1,837 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,837 Sqft ∙ Built 1992
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.30
    •  
  • 14019 Ticonderoga Court Fontana, CA 4
    • 4 beds 3 baths ∙ 1,918 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,918 Sqft ∙ Built 1990
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.30
    •  
  • 13519 Banning Street Fontana, CA 5
    • 4 beds 3 baths ∙ 1,912 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,912 Sqft ∙ Built 1988
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.31
    •  
PROPERTY LISTING DETAILS
Claudia Molina
Re/max One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21009504
Last Updated: 01/15/2021
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