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11510 Millpond Road Fontana, CA 92337

3 Beds 3 Baths 1,573 sqft Built 1990

$430,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $273.36
  • 8 Days on Market
  • MLS # : CV20235532
  • Updated Date : 11/13/2020 at 09:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,573 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kw Vision

Listing Agent's Description

MORE PHOTOS COMING SOON. ONE YEAR OLD SOLAR PANELS THAT ARE 100% PAID FOR. IMAGINE WHAT YOUR ELECTRIC BILL WILL BE! This home is in a great location. NO HOA. A beautiful 2 story home with 3 bedrooms and 3 bathrooms. A short distance to Jurupa Hills National Park, Jurupa swim lagoon and golf course. High ceilings and many large windows for natural light. Easy to maintain backyard with a nice patio.

SEE MORE

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: 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
Jurupa Vista Elementary School Primary Regular 590 23 4
Jurupa Vista Elementary School Middle Regular 590 23 4
Bloomington High School High Regular 2,037 84 4

Jurupa Vista Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 23
4
GreatSchools Rating

Jurupa Vista Elementary School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 23
4
GreatSchools Rating

Bloomington High School

  • Education Level: High
  • # of students: 2,037
  • # of teachers: 84
4
GreatSchools Rating
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,587
Property Tax -$458
Property Insurance -$65
Property Management Fees -$126
CASH FLOW
-$105

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.

$430,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.50%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$22,808

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $2,186

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,4003$2,4004$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 11510 Millpond Road Fontana, CA 1
    • 3 beds 3 baths ∙ 1,573 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,573 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.35
    •  
  • 16460 Windcrest Drive Fontana, CA 2
    • 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 1989
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.45
    •  
  • 11879 Cascada Court Fontana, CA 3
    • 4 beds 3 baths ∙ 1,747 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,747 Sqft ∙ Built 1989
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.37
    •  
  • 11437 Citrus Glen Lane Fontana, CA 4
    • 4 beds 3 baths ∙ 1,745 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,745 Sqft ∙ Built 1993
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.38
    •  
  • 16371 Applegate Drive Fontana, CA 5
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1995
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.36
    •  
PROPERTY LISTING DETAILS
Laura Fiore
Kw Vision
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20235532
Last Updated: 11/13/2020
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