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15640 Ramona Drive Fontana, CA 92336

3 Beds 3 Baths 1,560 sqft Built 1985

$515,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $330.13
  • 21 Days on Market
  • MLS # : OC21042807
  • Updated Date : 03/20/2021 at 05:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 3 full
Listing Agent

Socalvahomes

Listing Agent's Description

Location..Location..Location... This beautiful three bedroom three full bath home located in North Fontana on a Cul-del-sac street is ready for a family to enjoy!! As you walk in you will notice the specious living and dining room The family room with wood flooring and a brick fireplace sits next to the newly remolded kitchen with granite counter tops, new self closing cabinets, new self closing drawers and newer appliances with a built in lazy susan and spice rack. Located down stairs is a full bath and laundry room with a custom barn door and extra shelves and cabinets. All bedrooms are located up stairs with a deck located off the master bedroom with a view of the mountains. All bedrooms have lighted ceiling fans with dimmer switches. New irrigation system installed in the front and back yards. The patio has a ceiling fan and electric outlets. The two car garage has extra shelving. Other custom designer features include, newer wood blinds and shutters through out, new electric outlets through out, newer dual pane windows. Custom paint and molding. This is one you won't want to miss.

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

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
 

$463,500$566,500$515,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,789
Property Tax -$553
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$355

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.

$515,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$7,202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,188

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,1803$2,1804$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 15640 Ramona Drive Fontana, CA 3
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.40
    •  
  • 15673 Barbee Street Fontana, CA 1
    • 4 beds 3 baths ∙ 1,338 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,338 Sqft ∙ Built 1986
    property image
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.42
    •  
  • 7608 Plumaria Drive Fontana, CA 2
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
    property image
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.35
    •  
  • 7645 Sun Petal Court Fontana, CA 4
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
    property image
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.42
    •  
  • 7634 Plumaria Drive Fontana, CA 5
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.42
    •  
PROPERTY LISTING DETAILS
Mike Bullock
Socalvahomes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21042807
Last Updated: 03/20/2021
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