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8618 Alder Avenue Fontana, CA 92335

4 Beds 2 Baths 1,629 sqft Built 1949

$419,999

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $257.83
  • 2 Days on Market
  • MLS # : CV20239804
  • Updated Date : 11/14/2020 at 15:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,629 sqft
  • Baths : 2 full
Listing Agent

300 Realty

Listing Agent's Description

TURNKEY , TURNKEY , PROPERTY HAS BEEN COSMETICALLY REPAIRED WITH NEW EXTERIOR PAINT & CUSTOM TWO TONE INTERIOR PAINT, NEW TILE FLOORING IN BATHS, LAMINATED WATER RESISTANT FLOORS IN KITCHEN AND LIVING ROOM, NEW CARPET IN BEDROOMS, NEW WHITE SHAKER CABINETS IN THE KITCHEN , NEW QUARTZ CUSTOM COUNTER TOPS IN KITCHEN AND BATHROOM, NEW STOVE, MICROWAVE, DISHWASHER & BEVERAGE FRIDGE, NEW BASEBOARDS, RECESSED LIGHTING, CUSTOM RE-MODELED BATHROOM, NEW LIGHT FIXTURES & HARDWARE ,1 CAR GARAGE , FRONT YARD WITH SPRINKLERS, NEW DOUBLE PANE WINDOWS, MINI BLINDS, CENTRAL AC SHOW AND SELL !!!!!!!!!!!!!

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

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
South Tamarind Elementary School Primary Regular 773 28 3
Fontana Middle School Middle Regular 1,104 44 3
Fontana High School High Regular 2,536 120 5

South Tamarind Elementary School

  • Education Level: Primary
  • # of students: 773
  • # of teachers: 28
3
GreatSchools Rating

Fontana Middle School

  • Education Level: Middle
  • # of students: 1,104
  • # of teachers: 44
3
GreatSchools Rating

Fontana High School

  • Education Level: High
  • # of students: 2,536
  • # of teachers: 120
5
GreatSchools Rating
 

$377,999$461,999$419,999

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,550
Property Tax -$446
Property Insurance -$67
Property Management Fees -$127
CASH FLOW
-$39

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.

$419,999

PROJECTED PRICE

$2,150

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $314,999
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$26,939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $2,268

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$1,749
1$1,7492$2,0003$2,1504$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 8618 Alder Avenue Fontana, CA 3
    • 4 beds 2 baths ∙ 1,629 Sqft ∙ Built 1949 4 beds 2 baths ∙ 1,629 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.32
    •  
  • 17217 Manzanita Drive Fontana, CA 1
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1958
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.31
    •  
  • 9803 Mango Drive Fontana, CA 2
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1952
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.48
    •  
  • 9134 Kaiser Avenue Fontana, CA 4
    • 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
    •  
  • 8868 Tangelo Avenue Fontana, CA 5
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1954 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1954
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.25
    •  
PROPERTY LISTING DETAILS
Judy Dowding
300 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20239804
Last Updated: 11/14/2020
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