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9877 Venus Lane Fontana, CA 92335

3 Beds 2 Baths 1,364 sqft Built 1995

$409,999

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1995
  • Price/Sqft : $300.59
  • 12 Days on Market
  • MLS # : CV20224773
  • Updated Date : 11/02/2020 at 05:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,364 sqft
  • Baths : 2 full
Listing Agent

Re/max Time

Listing Agent's Description

THIS SINGLE-FAMILY HOME OF APPROXIMATELY 1,364 SQ FT OF LIVING SPACE THAT HAS PLENTY TO OFFER AND IDEALLY SITUATED IN QUIET AREA OF FONTANA. THIS HOME COMES WITH A LAUNDRY SPACE, A FIREPLACE, OAKWOOD COLOR KITCHEN CABINETS, TILE FLOORING THROUGHOUT THE HOME, TILE ON THE ROOF, CENTRAL A/C AND HEATER TO KEEP THE HOME FRESH AND WARM. THIS HOME OFFERS SPACIOUS LIVING AREA, THREE BEDROOMS, TWO BATHROOMS, AN ATTACHED THREE CAR-GARAGE, AND A RV ENTRANCE IN A 8,200 SQ FT LOT SIZE. THE HOME IS WITHIN WALKING DISTANCE FROM THE BUS STOP. IT IS ALSO LOCATED WITHIN DRIVING DISTANCE FROM RESTAURANTS, GROCERY STORES, BAKERY, PARKS, BIKE TRAIL, MEDICAL OFFICES, VET FOR YOUR PET, LIBRARY, FONTANA CITY HALL, THE POST OFFICE, FONTANA SPEEDWAY, LIVE AOK AND POPLAR ELEMENTARY SCHOOLS, SEQUOIA AND FONTANA MIDDLE SCHOOLS, AND FONTANA HIGH SCHOOL. KAISER PERMANENTE MEDICAL CENTER, THEATERS, COSTCO, LOWES, HOME DEPOT, AND ACCESSIBLE TO THE 10, 15, 60 AND 210 FREEWAYS.

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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

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
Poplar Elementary School Primary Regular 720 27 4
Poplar Elementary School Middle Regular 720 27 4
Henry J. Kaiser High School High Regular 2,391 106 6

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

Henry J. Kaiser High School

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

$368,999$450,999$409,999

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,513
Property Tax -$375
Property Insurance -$60
Property Management Fees -$107
CASH FLOW
-$245

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.

$409,999

PROJECTED PRICE

$1,810

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,499
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$9,922

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$1,810
1$1,8102$1,9503$1,9504$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 9877 Venus Lane Fontana, CA 1
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.33
    •  
  • 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
    •  
  • 9267 Cattail Ln Fontana, CA 5
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2013
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.46
    •  
PROPERTY LISTING DETAILS
Steve Gomez
Re/max Time
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20224773
Last Updated: 11/02/2020
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