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9855 Lime Avenue Fontana, CA 92335

4 Beds 2 Baths 1,433 sqft Built 1979

$459,900

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $320.94
  • 2 Days on Market
  • MLS # : TR21000594
  • Updated Date : 01/02/2021 at 17:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,433 sqft
  • Baths : 2 full
Listing Agent

Foothill City Realty

Listing Agent's Description

Nice single family home with comfortable proximity o everything you need including the 10 fwy, schools, parks, and shopping center. House features quality charm with a desirable floor plan featuring a cozy fireplace, title flooring, extra spacious bedrooms, over sized 2 car attached garage, formal family room, formal dining room, Big Game Room, And RV parking. A additionally wrought iron fencing, large 7,200 flat sqft lot. Property also provides you amenities such remodeled kitchen, Central A/C, and much more a must see. This great opportunity awaits you.

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MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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
Poplar Elementary School Primary Regular 720 27 4
Poplar Elementary School Middle Regular 720 27 4
Jurupa Hills High School High Regular 2,081 94 4

Poplar Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 27
4
GreatSchools Rating

Poplar Elementary School

  • Education Level: Middle
  • # of students: 720
  • # of teachers: 27
4
GreatSchools Rating

Jurupa Hills High School

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

$413,910$505,890$459,900

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,697
Property Tax -$488
Property Insurance -$62
Property Management Fees -$139
CASH FLOW
-$26

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.

$459,900

PROJECTED PRICE

$2,360

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

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$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$31,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $2,096

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9504$2,3005$2,360
$2,360
RENT COMPS ANALYSIS
  • 9855 Lime Avenue Fontana, CA 5
    • 4 beds 2 baths ∙ 1,433 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,433 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.65
    •  
  • 16290 Fontlee Court Fontana, CA 1
    • 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1980
    property image
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.53
    •  
  • 9220 Citrus Avenue Fontana, CA 2
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1985
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.43
    •  
  • 15380 Yew Court Fontana, CA 3
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1994
    property image
    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
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.48
    •  
PROPERTY LISTING DETAILS
Sandro Ustrell
Foothill City Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21000594
Last Updated: 01/02/2021
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