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15654 Coventry Lane Fontana, CA 92337

4 Beds 3 Baths 1,762 sqft Built 1991

$440,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $249.72
  • 7 Days on Market
  • MLS # : OC20248738
  • Updated Date : 11/30/2020 at 15:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,762 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kimberly Rangell-peleras,broker

Listing Agent's Description

Welcome home to this charming four bedroom Fontana home! This spacious four bedroom two story home offers new laminate flooring, recently remodeled kitchen in 2016. The kitchen is perfect to entertain your family, kitchen opens to the dining area. Spacious living room offers a fireplace. The master bedroom features a dual vanity with a private bath. All four bedrooms are upstairs, the remaining three bedrooms share a full bathroom. Spacious back yard perfect for outdoor entertainment and BBQ. Garage has recently installed an electric car charge for anyone driving an electric deal. Please hurry, will not last!

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: 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
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,623
Property Tax -$469
Property Insurance -$70
Property Management Fees -$137
CASH FLOW
$31

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.

$440,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.53%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$37,584

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $2,321

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,3003$2,3304$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 15654 Coventry Lane Fontana, CA 3
    • 4 beds 3 baths ∙ 1,762 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,762 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.32
    •  
  • 11311 Sarah Court Fontana, CA 1
    • 4 beds 3 baths ∙ 1,841 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,841 Sqft ∙ Built 1989
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.24
    •  
  • 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
    •  
  • 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
    •  
  • 11437 Citrus Glen Lane Fontana, CA 5
    • 4 beds 3 baths ∙ 1,745 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,745 Sqft ∙ Built 1993
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.38
    •  
PROPERTY LISTING DETAILS
Kimberly Rangell-peleras
Kimberly Rangell-peleras,broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20248738
Last Updated: 11/30/2020
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