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14955 Colby Place Fontana, CA 92337

3 Beds 2 Baths 1,852 sqft Built 2006

$459,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $248.33
  • 2 Days on Market
  • MLS # : OC20247692
  • Updated Date : 11/28/2020 at 18:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,852 sqft
  • Baths : 2 full
Listing Agent

Century 21 Masters

Listing Agent's Description

Gorgeous single story home in move in condition! Perfect for everyone that is looking for a home with no steps for easy access. This is a must see single story home with a 2 car garage attached. Cozy family room with gas burning F.P. and ceiling fan. Kitchen has Corian Counter tops, Whirlpool microwave, range, oven and dishwasher. Both bathrooms have Corian Counter tops All 3 bedrooms have carpet + Ceiling fan in each, with mirrored closet doors in bedrooms 2 & 3 –Inside laundry room – Tile with grout in hallways, kitchen, bathrooms, family room, laundry room - Aluma wood patio in back yard Sprinklers w/timer for front & back yard & flowerbeds.

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
Canyon Crest Elementary School Primary Regular 553 19 4
Southridge Middle School Middle Regular 1,064 43 5
Henry J. Kaiser High School High Regular 2,391 106 6

Canyon Crest Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 19
4
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
 

$413,910$505,890$459,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,697
Property Tax -$546
Property Insurance -$72
Property Management Fees -$142
CASH FLOW
-$57

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.

$459,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.52%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$29,140

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,486

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,4004$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 14955 Colby Place Fontana, CA 5
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.30
    •  
  • 11520 Leatherleaf Fontana, CA 1
    • 3 beds 4 baths ∙ 1,770 Sqft ∙ Built 1991 3 beds 4 baths ∙ 1,770 Sqft ∙ Built 1991
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.30
    •  
  • 15313 Tobarra Road Fontana, CA 2
    • 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 1989
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.35
    •  
  • 12026 Weeping Willow Lane Fontana, CA 3
    • 4 beds 3 baths ∙ 1,751 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,751 Sqft ∙ Built 1987
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.37
    •  
  • 15364 Villaba Road Fontana, CA 4
    • 4 beds 3 baths ∙ 1,777 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,777 Sqft ∙ Built 1989
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.35
    •  
PROPERTY LISTING DETAILS
Esther Vazquez
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20247692
Last Updated: 11/28/2020
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