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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $206.73
- 4 Days on Market
- MLS # : CV20257559
- Updated Date : 12/19/2020 at 20:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,733 sqft
- Baths : 3 full
Listing Agent
Re/max Time Realty
Listing Agent's Description
Corner lot home with complete renovations at its finest! Not only does this home provide a substantial amount of lot space, this home also offers a total of 2,733 SqFt of Living Space. When you first walk into this home you will notice the high vaulted ceilings that lead to the formal family room and then leads to the formal living room which is also equipped with a fireplace for those warm cozy nights. The living room then opens up to the kitchen which contains granite countertops throughout along with a center island and walk-in pantry. You will also conveniently notice one FULL SIZED BEDROOM and one Bathroom located DOWNSTAIRS which can be occupied by your In-laws or simply used as a guest bedroom. There is a large enough loft upstairs that can easily be converted into a 5th bedroom or simply used for other amenities. Upon the double-door entry for the Master Suite, you will find a dual vanity sink along with a spacious walk-in closet. This highly desirable home is conveniently located near the 210 Freeway and the 15 Freeway: only minutes away from many attractions, shopping centers, and plazas! Choose between Victoria Gardens (only 4 miles away) or the Ontario Mills Mall (7 miles away) for those small family getaways during the weekend! Oh, and who doesn't like saving money when it comes to our electricity bill? You will be completely satisfied once you find out the amount of savings these panels will accumulate for you each and every month!
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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: Rancho Fontana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rancho Fontana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,680 |
| EXPENSES | Loan Payment | -$2,085 |
| Property Tax | -$598 | |
| Property Insurance | -$93 | |
| Property Management Fees | -$158 | |
|
CASH FLOW
-$254
|
||
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.
$565,000
PROJECTED PRICE
$2,680
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$155,475
LOAN DETAILS
$2,085
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $141,250 |
| Loan Amount | $423,750 |
3.5
YEARS SAVED
$20,423
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,680
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$2,692
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
-
15333 Palm Leaf Lane Fontana, CA 2
- 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2006
![property image]()
- Rent
- Rent Per SQFT
- $2,680
- $0.98
-
7458 Lime Avenue Fontana, CA 1
- 5 beds 3 baths ∙ 2,676 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,676 Sqft ∙ Built 2002
![property image]()
LEASED 03/20/20- Rent
- Rent Per SQFT
- $2,600
- $0.97
-
7270 Avocado Court Fontana, CA 3
- 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2007
![property image]()
LEASED 03/14/20- Rent
- Rent Per SQFT
- $2,695
- $0.99
-
15131 Red Sox Circle Fontana, CA 4
- 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2007
![property image]()
LEASED 10/19/20- Rent
- Rent Per SQFT
- $2,700
- $0.98
-
15341 Palm Leaf Lane Fontana, CA 5
- 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2006
![property image]()
LEASED 06/27/20- Rent
- Rent Per SQFT
- $2,800
- $1.00
PROPERTY LISTING DETAILS
Re/max Time Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20257559
Last Updated: 12/19/2020
