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15438 Buchanan Lane Fontana, CA 92336

4 Beds 3 Baths 2,648 sqft Built 2003

$560,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $211.48
  • 2 Days on Market
  • MLS # : CV20231126
  • Updated Date : 11/02/2020 at 19:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,648 sqft
  • Baths : 2 full , 1 half
Listing Agent

Excellence Re Real Estate

Listing Agent's Description

Beautiful North Fontana Home. Etiwanda School District. This home has a large open floor plan. It is a 4 bedroom 2 1/2 bath. There is New Laminate flooring throughout the Downstairs and Upstairs. Bathrooms are tile flooring. All bedrooms are upstairs. This home comes with a HUGE Loft. It also has a whole house fan. Kitchen is open to the living room with Granite countertops. Downstairs and Master Bedroom have Crown Molding. The 3 car garage also offers a pull through space. Nice backyard and gas fire pit.It comes with a solar system that is leased but easily transferable.

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: Summit Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $148k592k

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

Neighborhood: Summit Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822651

* 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
Etiwanda Colony Elementary School Primary Regular 885 35 9
Summit Intermediate School Middle Regular 1,108 49 7
Etiwanda High School High Regular 3,458 126 8

Etiwanda Colony Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 35
9
GreatSchools Rating

Summit Intermediate School

  • Education Level: Middle
  • # of students: 1,108
  • # of teachers: 49
7
GreatSchools Rating

Etiwanda High School

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

$504,000$616,000$560,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,066
Property Tax -$672
Property Insurance -$91
Property Management Fees -$155
CASH FLOW
-$364

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.

$560,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.6%
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$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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$12,031

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,628

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6003$2,6204$2,7005$2,900
$2,900
RENT COMPS ANALYSIS
  • 15438 Buchanan Lane Fontana, CA 3
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.99
    •  
  • 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
    •  
  • 14918 New Foal Fontana, CA 2
    • 3 beds 3 baths ∙ 2,745 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,745 Sqft ∙ Built 1997
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
  • 6046 Eaglemont Drive Fontana, CA 4
    • 5 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
  • 6342 Keystone Way Fontana, CA 5
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2018
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.12
    •  
PROPERTY LISTING DETAILS
Robert Deponte
Excellence Re Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231126
Last Updated: 11/02/2020
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