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9273 Laurel Avenue Fontana, CA 92335

3 Beds 2 Baths 1,451 sqft Built 1935

$434,999

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1935
  • Price/Sqft : $299.79
  • 7 Days on Market
  • MLS # : IG20261197
  • Updated Date : 12/21/2020 at 16:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,451 sqft
  • Baths : 2 full
Listing Agent

Provident Real Estate

Listing Agent's Description

Beautiful remodeled single story home offering 3 bedrooms and 2 full bathrooms. Upgraded laminate flooring installed throughout offering an elegant look and uniform flow. The family room is flanked by a sizable fireplace and mantel that commands attention and plenty of natural lighting beaming through the over-sized windows. Entertain effortlessly in this open and inviting kitchen equipped with upgraded counter tops, new sink and plenty of cabinet space for all of your organizational needs. The main house includes two generous sized bedrooms with ceiling fans installed and one full bathroom. The back house includes it's own kitchen, one bedroom and full bathroom. Endless possibilities awaits on this large lot. Low tax rate estimated at 1.1%. Schedule your private showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Maple Elementary School Primary Regular 656 24 4
Alder Middle School Middle Regular 1,167 48 2
Jurupa Hills High School High Regular 2,081 94 4

Maple Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 24
4
GreatSchools Rating

Alder Middle School

  • Education Level: Middle
  • # of students: 1,167
  • # of teachers: 48
2
GreatSchools Rating

Jurupa Hills High School

  • Education Level: High
  • # of students: 2,081
  • # of teachers: 94
4
GreatSchools Rating
 

$391,499$478,499$434,999

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,605
Property Tax -$398
Property Insurance -$62
Property Management Fees -$128
CASH FLOW
-$23

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.

$434,999

PROJECTED PRICE

$2,170

PROJECTED RENT

0.50%

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$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,249
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$30,694

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $2,172

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9003$2,0004$2,170
$2,170
RENT COMPS ANALYSIS
  • 9273 Laurel Avenue Fontana, CA 4
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1935
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.50
    •  
  • 17646 Dorsey Avenue Fontana, CA 1
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1955
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.51
    •  
  • 9602 Grace Street Fontana, CA 2
    • 3 beds 3 baths ∙ 1,267 Sqft ∙ Built 1952 3 beds 3 baths ∙ 1,267 Sqft ∙ Built 1952
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.50
    •  
  • 9803 Mango Drive Fontana, CA 3
    • 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
    •  
PROPERTY LISTING DETAILS
Nazar Kalayji
Provident Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20261197
Last Updated: 12/21/2020
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