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15902 Harmony Lane Fontana, CA 92336

4 Beds 3 Baths 2,600 sqft Built 2016

$520,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $200.00
  • 2 Days on Market
  • MLS # : AR21025172
  • Updated Date : 02/06/2021 at 17:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,600 sqft
  • Baths : 3 full
Listing Agent

Irn Realty

Listing Agent's Description

Beautiful gated community house build in 2016, almost like brand new home condition. Property features three bedrooms upstairs, two baths and an additional upstairs loft which can be used as home office. There is one bedroom downstairs which will be perfect for in your visiting guests. The kitchen features a large kitchen island and makes it the perfect space to cook in. The master suite also offers a spacious walk-in closets and a large freestanding bathtubs. The laundry room is also conveniently located upstairs to make doing laundry that much easier. A must see property and make this your perfect home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
Dorothy Grant Elementary School Primary Regular 739 25 7
Almeria Middle School Middle Regular 833 38 3
Summit High School High Regular 2,606 108 6

Dorothy Grant Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 25
7
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
 

$468,000$572,000$520,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,806
Property Tax -$550
Property Insurance -$90
HOA -$160
Property Management Fees -$147
CASH FLOW
-$263

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.

$520,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.48%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$11,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,509

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4503$2,4904$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 15902 Harmony Lane Fontana, CA 3
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.96
    •  
  • 16124 St Antony Lane Fontana, CA 1
    • 3 beds 3 baths ∙ 2,591 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,591 Sqft ∙ Built 2014
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.92
    •  
  • 15636 Caravelle Avenue Fontana, CA 2
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 1998
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.93
    •  
  • 7458 Lime Avenue Fontana, CA 4
    • 5 beds 3 baths ∙ 2,676 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,676 Sqft ∙ Built 2002
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 6758 Winter Night Court Fontana, CA 5
    • 5 beds 4 baths ∙ 2,511 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,511 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
PROPERTY LISTING DETAILS
Qing Song Huang
Irn Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21025172
Last Updated: 02/06/2021
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