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14992 Cerritos Place Fontana, CA 92336

4 Beds 3 Baths 2,788 sqft Built 2004

$550,000

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $197.27
  • 6 Days on Market
  • MLS # : CV21006936
  • Updated Date : 01/12/2021 at 12:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,788 sqft
  • Baths : 2 full , 1 half
Listing Agent

New Star Realty & Investment

Listing Agent's Description

Family home in the landings " Community located in the Etiwanda School District, close 210 F. W." Best location and setting around! Beautiful property 4 bed + 3 Bath + huge loft, kitchen granite countertop with upgrade cabinets and laminated floor. The large master bedroom offers a double door entry & a walking closet. As you look through the sliding door you see a well-arranged backyard with a patio. Much much more...

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: Bellgrove

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $148k584k

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

Neighborhood: Bellgrove

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10822517

* 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
Cecilia L. Solorio Elementary School Primary Regular 894 36 7
Heritage Intermediate School Middle Regular 1,240 48 8
Etiwanda High School High Regular 3,458 126 8

Cecilia L. Solorio Elementary School

  • Education Level: Primary
  • # of students: 894
  • # of teachers: 36
7
GreatSchools Rating

Heritage Intermediate School

  • Education Level: Middle
  • # of students: 1,240
  • # of teachers: 48
8
GreatSchools Rating

Etiwanda High School

  • Education Level: High
  • # of students: 3,458
  • # of teachers: 126
8
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$1,910
Property Tax -$650
Property Insurance -$95
Property Management Fees -$162
CASH FLOW
-$76

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.

$550,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 10.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$27,321

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,746

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6953$2,7404$2,8005$2,997
$2,997
RENT COMPS ANALYSIS
  • 14992 Cerritos Place Fontana, CA 3
    • 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $0.98
    •  
  • 15636 Caravelle Avenue Fontana, CA 1
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 1998
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.93
    •  
  • 7270 Avocado Court Fontana, CA 2
    • 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2007
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.99
    •  
  • 15341 Palm Leaf Lane Fontana, CA 4
    • 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2006
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
  • 14612 Nevada Court Fontana, CA 5
    • 4 beds 3 baths ∙ 2,943 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,943 Sqft ∙ Built 1998
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,997
    • $1.02
    •  
PROPERTY LISTING DETAILS
Sarah Bae
New Star Realty & Investment
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21006936
Last Updated: 01/12/2021
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