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14205 Walmac Place Fontana, CA 92337

3 Beds 3 Baths 1,286 sqft Built 1987

$418,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $325.04
  • 6 Days on Market
  • MLS # : CV20226604
  • Updated Date : 10/29/2020 at 16:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,286 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Resources

Listing Agent's Description

Welcome to this darling home in the sought out  community of South Ridge in Fontana. Ideally located between an abundance  of shopping options, easy freeway access, excellent schools, walking trails/parks, and plenty more. Greeted by a quaint front grassy area and RV parking, this 3 bedroom 2 1/2 bath home has all the Bells and Whistles. As you enter, you will find the cool tones of the wood like tile flooring flowing with the gorgeous custom fireplace. High ceilings allow Plenty of natural sunlight to enter the home. The dining room opens up to the living room and kitchen for a highly desired open floor plan. Sliding doors welcome you to the finished brick paved backyard, just perfect for BBQs and lounging. You will find all 3 bedrooms upstairs. Master bedroom has an en suite bathroom and down the hallway an additional full bathroom for the 2 bedrooms. This won't last! Come, fall in love, and make it your very own.

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
Oak Park Elementary School Primary Regular 529 19 5
Southridge Middle School Middle Regular 1,064 43 5
Henry J. Kaiser High School High Regular 2,391 106 6

Oak Park Elementary School

  • Education Level: Primary
  • # of students: 529
  • # of teachers: 19
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
 

$376,200$459,800$418,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,542
Property Tax -$497
Property Insurance -$58
Property Management Fees -$109
CASH FLOW
-$356

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.

$418,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.44%

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$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$116,520

INVESTMENT

$116,520

Down Payment
$104,500
Rehab Estimate
$5,750
Closing Costs
$6,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,542

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,500
Loan Amount $313,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,571

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $1,845

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0503$2,1004$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 14205 Walmac Place Fontana, CA 1
    • 3 beds 3 baths ∙ 1,286 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,286 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.44
    •  
  • 11857 Banana Avenue Fontana, CA 2
    • 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 1984
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.37
    •  
  • 14185 Woodland Drive Fontana, CA 3
    • 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 1985
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.41
    •  
  • 11328 Teak Lane Fontana, CA 4
    • 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
    •  
  • 14388 Hillcrest Drive Fontana, CA 5
    • 3 beds 3 baths ∙ 1,521 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,521 Sqft ∙ Built 1986
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.48
    •  
PROPERTY LISTING DETAILS
Laura Dandoy
Re/max Resources
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20226604
Last Updated: 10/29/2020
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