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9594 Boxwood Avenue Fontana, CA 92335

4 Beds 2 Baths 1,985 sqft Built 2015

$489,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $246.35
  • 5 Days on Market
  • MLS # : OC21028429
  • Updated Date : 02/12/2021 at 05:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,985 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Homes

Listing Agent's Description

Welcome to this four bedroom two bathrooms open concept home. Bedrooms have laminated floors, porcelain tile throughout the home. Vehicle storage access inside gate. Dual access gates to the backyard. This home has a gorgeous backyard with new planters with irrigation system, backyard has a combination of lawn and cement. It offers plenty of space to enjoy mornings and have a cup of tea or coffee, or have a romantic evening with patio lights at dusk. You could also listen to the relaxing sounds of the water fountain. Enjoy the clear nights and look at the stars. It is conveniently located closed to shopping centers, schools, hospitals, parks and much more. The city of Fontana continues to expand and offers residents plenty of parks, Basketball Courts, Hockey Rink, Fire Museums & Stations, Center Stage Theater, and Art Gallery. In case you need to travel, this home is approximately thirteen miles to Ontario International Airport. This house is ready for you to make it your home.

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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
Palmetto Elementary School Primary Regular 960 34 4
Harry S. Truman Middle School Middle Regular 1,213 53 2
Jurupa Hills High School High Regular 2,081 94 4

Palmetto Elementary School

  • Education Level: Primary
  • # of students: 960
  • # of teachers: 34
4
GreatSchools Rating

Harry S. Truman Middle School

  • Education Level: Middle
  • # of students: 1,213
  • # of teachers: 53
2
GreatSchools Rating

Jurupa Hills High School

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

$440,100$537,900$489,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,698
Property Tax -$519
Property Insurance -$75
Property Management Fees -$146
CASH FLOW
$31

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.

$489,000

PROJECTED PRICE

$2,470

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$1.6M$1.8M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,698

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$32,187

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,600

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,470
$2,470
RENT COMPS ANALYSIS
  • 9594 Boxwood Avenue Fontana, CA 2
    • 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.24
    •  
  • 11144 Daylilly Street Fontana, CA 1
    • 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 2002
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.31
    •  
PROPERTY LISTING DETAILS
Veronica Al-sonna
Re/max Fine Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21028429
Last Updated: 02/12/2021
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