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11914 Verona Drive Fontana, CA 92337

3 Beds 3 Baths 1,398 sqft Built 1990

$455,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $325.46
  • 3 Days on Market
  • MLS # : PW21000176
  • Updated Date : 01/01/2021 at 18:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,398 sqft
  • Baths : 2 full , 1 half
Listing Agent

Amco Realty

Listing Agent's Description

Welcome home! This charming TURNKEY home in the DESIRED neighborhood of SOUTHRIDGE, with 3 bedrooms and 2 and a 1/2 baths, is just what you’re looking for! NEW Remodeled kitchen with Quartz Countertops and NEW Espresso Shaker Cabinets with NEW STAINLESS STEEL APPLIANCES and a NEW dining room ceiling fan. NEW remodeled bathroom vanities, and NEW painting and laminate flooring throughout the second floor! Title flooring throughout the first floor. Beautiful fireplace. You also find laundry in the garage and 2 car attached garage. Good sized backyard for entertaining. Great location, easy to access 60 & 10 freeway. Schools and shopping centers nearby. NEW front retaining wall/ garden and NEW vinyl fencing. NEW water heater. Multiple Citrus Trees and Avocado Tree! Don’t miss out on this beautiful home, it won’t last!!

SEE MORE

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: 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
Michael D'arcy Elementary School Primary Regular 488 19 4
Michael D'arcy Elementary School Middle Regular 488 19 4
Bloomington High School High Regular 2,037 84 4

Michael D'arcy Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 19
4
GreatSchools Rating

Michael D'arcy Elementary School

  • Education Level: Middle
  • # of students: 488
  • # of teachers: 19
4
GreatSchools Rating

Bloomington High School

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

$409,500$500,500$455,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,679
Property Tax -$485
Property Insurance -$61
Property Management Fees -$123
CASH FLOW
-$258

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.

$455,000

PROJECTED PRICE

$2,090

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$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$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,679

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$12,546

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $2,107

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0903$2,1504$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 11914 Verona Drive Fontana, CA 2
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.49
    •  
  • 16147 Trailwinds Drive Fontana, CA 1
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1990
    LEASED 01/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.57
    •  
  • 14772 Cinnamon Drive Fontana, CA 3
    • 3 beds 3 baths ∙ 1,455 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,455 Sqft ∙ Built 1990
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.48
    •  
  • 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
    •  
  • 15497 Tobarra Road Fontana, CA 5
    • 3 beds 3 baths ∙ 1,563 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,563 Sqft ∙ Built 2000
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.60
    •  
PROPERTY LISTING DETAILS
John Rodriguez
Amco Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21000176
Last Updated: 01/01/2021
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