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15583 Skylark Avenue Fontana, CA 92336

4 Beds 3 Baths 2,303 sqft Built 1997

$560,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $243.16
  • 2 Days on Market
  • MLS # : CV20260497
  • Updated Date : 12/19/2020 at 19:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,303 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Time Realty

Listing Agent's Description

This beautiful two story home not only belongs to the highly desirable Etiwanda School District but it is also conveniently situated only minutes away from the 210 & 15 Freeway. Choose between Victoria Gardens and the Ontario Mills Mall for those small family getaways during the weekend or simply take advantage of the extremely popular "Fontana Park" which also offers an Aquatic Center for the kids just above the 210 freeway. When you first walk into this home you will notice the high vaulted ceilings that also offers a beautiful chandelier underneath the formal family room along with crown molding and recessed lighting throughout. You will then notice the elegant staircase made of Natural Stone Tile. Once you've passed the family room/staircase you will notice the kitchen to the left of you which contains a center island and a walk-in pantry. You will then notice the living room which opens up from the kitchen and then you will find a Laundry Room and 1/2 bathroom located downstairs. There are 4 Bedrooms and 2 Full Bathrooms upstairs. The backyard is the best part: you will immediately acknowledge a two-tier 40 ft wide/17 ft Deep Deck Patio/Balcony that contain balustrades and runway lighting throughout which is easily accessible from the master bedroom and a 2nd bedroom that both contain french doors. It is absolutely magnificent at night! If you enjoy saving money you will absolutely love what the Solar Panels have to offer as well!

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: California Landings

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $148k586k

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

Neighborhood: California Landings

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822496

* 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
 

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

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$2,066
Property Tax -$648
Property Insurance -$83
Property Management Fees -$150
CASH FLOW
-$407

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

$2,540

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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

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

2.17

YEARS SAVED

$9,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,539

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5404$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 15583 Skylark Avenue Fontana, CA 3
    • 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.10
    •  
  • 15362 Darlene Street Fontana, CA 1
    • 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2000
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
  • 6849 Earp Way Fontana, CA 2
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2005
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 7143 Helena Place Fontana, CA 4
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2004
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.17
    •  
  • 15477 Mcdonnell Avenue Fontana, CA 5
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2000
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.11
    •  
PROPERTY LISTING DETAILS
Raad Shalabi
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20260497
Last Updated: 12/19/2020
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