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15618 Willow Drive Fontana, CA 92337

5 Beds 3 Baths 1,949 sqft Built 1996

$499,999

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $256.54
  • 2 Days on Market
  • MLS # : CV21014439
  • Updated Date : 01/23/2021 at 19:39
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,949 sqft
  • Baths : 3 full
Listing Agent

Re/max Time Realty

Listing Agent's Description

Fully upgraded from top to bottom! If you are looking for a home that has all the upgrades you can ever imagine then look no further, stepping foot inside you will be greeted with custom 18" Spanish Imported flooring throughout the down stairs. The formal living room is not only comfortable but also breath taking with its high ceilings. Continuing onto the kitchen which has been fully updated to solid wood cabinets and granite counter tops, the kitchen is perfect for those who love cooking and entertaining. Bathrooms throughout the home were remodeled as of 1 month ago with custom touches as well as a Jacuzzi in the master bath. You will be happy to find that attention to detail hasn’t stopped when it comes to the stairs as custom touches have been added such as laminate and tile mixed together to take the stair case to the next level. The front hard has had extensive upgrades done to not only the landscaping but also had custom pillars added to give it an amazing curb appeal. AC and water heater were both replaced less than 2 years ago so you can have peace of mind knowing they should last for the years to come. Stepping into the back yard you will be happy to find a fully landscaped and low maintenance relaxing area with a gazebo and BBQ area making it perfect for entertaining on the weekends. Located near freeways, schools and shopping centers this home is truly a MOVE IN ready home. To top it off the home is being sold Fully Furnished so it really is 100% move in ready.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southridge Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k470k

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

Neighborhood: Southridge Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100Rent in $10822139

* 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
Michael D'arcy Elementary School Primary Regular 488 19 4
Michael D'arcy Elementary School Middle Regular 488 19 4
Bloomington High School High Regular 2,037 84 4

Michael D'arcy Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 19
4
GreatSchools Rating

Michael D'arcy Elementary School

  • Education Level: Middle
  • # of students: 488
  • # of teachers: 19
4
GreatSchools Rating

Bloomington High School

  • Education Level: High
  • # of students: 2,037
  • # of teachers: 84
4
GreatSchools Rating
 

$449,999$549,999$499,999

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,737
Property Tax -$533
Property Insurance -$74
Property Management Fees -$142
CASH FLOW
-$85

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.

$499,999

PROJECTED PRICE

$2,400

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.1%
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

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$24,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,582

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,4004$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 15618 Willow Drive Fontana, CA 5
    • 4 beds 3 baths ∙ 1,949 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,949 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.23
    •  
  • 15639 Coventry Lane Fontana, CA 1
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1991
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.28
    •  
  • 11520 Leatherleaf Fontana, CA 2
    • 3 beds 4 baths ∙ 1,770 Sqft ∙ Built 1991 3 beds 4 baths ∙ 1,770 Sqft ∙ Built 1991
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.30
    •  
  • 12026 Weeping Willow Lane Fontana, CA 3
    • 4 beds 3 baths ∙ 1,751 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,751 Sqft ∙ Built 1987
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.37
    •  
  • 15364 Villaba Road Fontana, CA 4
    • 4 beds 3 baths ∙ 1,777 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,777 Sqft ∙ Built 1989
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.35
    •  
PROPERTY LISTING DETAILS
Antonio Lopez
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21014439
Last Updated: 01/23/2021
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