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8985 Carob Dr Fontana, CA 92335

4 Beds 2 Baths 1,564 sqft Built 1997

$455,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $290.92
  • 5 Days on Market
  • MLS # : CV20241114
  • Updated Date : 11/21/2020 at 10:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,564 sqft
  • Baths : 2 full
Listing Agent

First National Realty

Listing Agent's Description

Welcome to this beautiful single level family home in an established nice and quiet neighborhood. It features 4 beds 2 baths, very spacious master bedroom, kitchen with granite counter tops, new tile floors new paint , gas fireplace perfect for those cold winter nights, large covered patio for your back yard parties, beautiful pool for summer days, concrete fences walls in patio area. Two car garage close to restaurants, shops, schools, no HOA, you must see, great deal for the price move in ready.

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
Beech Avenue Elementary School Primary Regular 877 31 6
Beech Avenue Elementary School Middle Regular 877 31 6
Henry J. Kaiser High School High Regular 2,391 106 6

Beech Avenue Elementary School

  • Education Level: Primary
  • # of students: 877
  • # of teachers: 31
6
GreatSchools Rating

Beech Avenue Elementary School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 31
6
GreatSchools Rating

Henry J. Kaiser High School

  • Education Level: High
  • # of students: 2,391
  • # of teachers: 106
6
GreatSchools Rating
 

$409,500$500,500$455,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,679
Property Tax -$417
Property Insurance -$65
Property Management Fees -$126
CASH FLOW
-$156

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.

$455,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.47%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,679

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$19,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.36

    LIST RENT PER SQFT
  • $2,260

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$2,1304$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 8985 Carob Dr Fontana, CA 3
    • 4 beds 2 baths ∙ 1,564 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,564 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.36
    •  
  • 9220 Citrus Avenue Fontana, CA 1
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1985
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.43
    •  
  • 15380 Yew Court Fontana, CA 2
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1994
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.41
    •  
  • 15348 Granada Avenue Fontana, CA 4
    • 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 1990
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.48
    •  
  • 9267 Cattail Ln Fontana, CA 5
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2013
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.46
    •  
PROPERTY LISTING DETAILS
Graciela Navarro Gil
First National Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20241114
Last Updated: 11/21/2020
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