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15470 Avens Lane Fontana, CA 92336

4 Beds 3 Baths 2,414 sqft Built 2014

$600,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $248.55
  • 6 Days on Market
  • MLS # : IV21059586
  • Updated Date : 03/24/2021 at 16:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,414 sqft
  • Baths : 3 full
Listing Agent

Solr Realty

Listing Agent's Description

STANDARD SALE!!! THIS BEAUTIFUL HOME FEATURES 4BEDROOMS 3BATHS 2,414 SQ FT WITH AN OPEN FLOOR PLAN BUILT IN 2014.ONE BEDROOM ON FIRST FLOOR, ALSO A LOFT UPSTAIRS FOR AN EXTRA RETREAT AREA. IT HAS HIGH CEILINGS, RECESS LIGHTING AND CUSTOM SHUTTERS. THE KITCHEN FEATURES A LARGE ISLAND WITH GRANITE COUNTER TOPS AND A SPACIOUS BUTLER PANTRY AND 18' INCH TILE IN ALL HEAVY TRAFFIC AREAS. THE LARGE MASTER SUITE HAS WALK IN CLOSET & HIS AND HER SINKS. THE LAUNDRY ROOM IS LOCATED UPSTAIRS MAKING IT VERY CONVENIENT. IT ALSO HAS ENERGY EFFICIENT AMENITIES WHICH INCLUDES SOLAR AND TANKLESS WATER HEATER,CEILING FANS IN EVERY ROOM INCLUDING PATIO. CENTRALLY LOCATED TO SHOPPING CENTERS, VICTORIA GARDENS, ONTARIO MILLS, 210,10,60 FWY THIS DEVELOPMENTS ALSO HAS LOW HOA FEE'S, LOW TAXES, NO MELLO ROOS. THE HOA INCLUDES SWIMMING POOL, BARBECUE AREA, PLAY GROUND AND ENTERTAINMENT CENTER.

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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

Zip Code: 92336

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k526k

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

Zip Code: 92336

ZipNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822424

* 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
Hemlock Elementary School Primary Regular 434 17 4
Almeria Middle School Middle Regular 833 38 3
Summit High School High Regular 2,606 108 6

Hemlock Elementary School

  • Education Level: Primary
  • # of students: 434
  • # of teachers: 17
4
GreatSchools Rating

Almeria Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 38
3
GreatSchools Rating

Summit High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 108
6
GreatSchools Rating
 

$540,000$660,000$600,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,084
Property Tax -$635
Property Insurance -$86
HOA -$60
Property Management Fees -$158
CASH FLOW
-$343

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.

$600,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.3%
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$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$11,673

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
  • $1.11

    LIST RENT PER SQFT
  • $2,680

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6803$2,6904$2,7005$2,700
$2,700
RENT COMPS ANALYSIS
  • 15470 Avens Lane Fontana, CA 2
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.11
    •  
  • 7860 Sea Salt Avenue Fontana, CA 1
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2016
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
  • 15576 Allspice Fontana, CA 3
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2017
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $1.12
    •  
  • 7837 Poppy Lane Fontana, CA 4
    • 4 beds 3 baths ∙ 2,404 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,404 Sqft ∙ Built 2018
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.12
    •  
  • 15615 Basil Leaf Lane Fontana, CA 5
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2017
    LEASED 11/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Leroy Holt
Solr Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21059586
Last Updated: 03/24/2021
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