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11316 Driftwood Drive Fontana, CA 92337

3 Beds 2 Baths 1,103 sqft Built 1986

$415,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $376.25
  • 7 Days on Market
  • MLS # : DW20240965
  • Updated Date : 11/21/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,103 sqft
  • Baths : 2 full
Listing Agent

Brick & Co Real Estate

Listing Agent's Description

First impression is exceptional Pride of Ownership. This 3-bedroom 2 bathroom home offers high ceilings that make it open and bright, laminate flooring throughout the living area, living room with a fireplace for cozy nights and a sliding patio door that leads to a custom covered patio with ceiling fan and recessed lighting to enjoy and to entertain family and friends. Kitchen has granite counters, a bay window for natural lighting, plenty of cabinets for storage and stainless-steel appliances. Master bedroom has window shutters with sliding door for private access to the backyard. Garage is finished with wall cabinets, utility sink and pull-down steps for attic storage, a whole house fan keeps it extra cool in the summer and new plumbing throughout the house is a plus. The pool size backyard is green and beautiful for relaxing and family time. Great location with neighborhood park nearby, convenient freeway access, 10 mins away from Ontario Mills, Airport and Victoria Gardens. This home reflects tremendous Pride of Ownership.

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

Neighborhood: Southridge Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k470k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Southridge Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100Rent in $10822139

* 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
Chaparral Elementary School Primary Regular 407 14 5
Southridge Middle School Middle Regular 1,064 43 5
Henry J. Kaiser High School High Regular 2,391 106 6

Chaparral Elementary School

  • Education Level: Primary
  • # of students: 407
  • # of teachers: 14
5
GreatSchools Rating

Southridge Middle School

  • Education Level: Middle
  • # of students: 1,064
  • # of teachers: 43
5
GreatSchools Rating

Henry J. Kaiser High School

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

$373,500$456,500$415,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,531
Property Tax -$493
Property Insurance -$54
Property Management Fees -$113
CASH FLOW
-$271

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.

$415,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $1,577

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9203$2,150
$2,150
RENT COMPS ANALYSIS
  • 11316 Driftwood Drive Fontana, CA 2
    • 3 beds 2 baths ∙ 1,103 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,103 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.74
    •  
  • 3278 Chardoney Way Jurupa Valley, CA 1
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1984
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.38
    •  
  • 11328 Teak Lane Fontana, CA 3
    • 3 beds 3 baths ∙ 1,453 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,453 Sqft ∙ Built 1987
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.48
    •  
PROPERTY LISTING DETAILS
Annamarie Banales
Brick & Co Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20240965
Last Updated: 11/21/2020
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