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15940 Chorus Lane Fontana, CA 92336

4 Beds 3 Baths 2,292 sqft Built 2015

INVESTimate

$479,900

List Price

$2,420

$2,178 - $2,662

Rent Est.

$510,326  ( +6.34%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $209.38
  • 8 Days on Market
  • MLS # : CV20169517
  • Updated Date : 08/22/2020 at 13:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,292 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 King

Listing Agent's Description

Location! Location! Location! Beautiful Home located in a Gated Community. Nice 4 BD and 2.5 BA. Fully Landscaped Front and Back Yards. Walking Distance to Club House and Swimming Pool. Well Maintain Neighborhood and Low HOA Close to Shopping, Parks and Schools. Easy Access to Fwy 15, 210 and 10. Only a Few Minutes to Victoria Gardens and Ontario Mills. Must See and Don't Miss this Great Opportunity to be a Homeowner for Low Interest Rate. (Property Profile Showed 3BD, but Built-in 4 BD).

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
 

$431,910$527,890$479,900

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,771
Property Tax -$508
Property Insurance -$83
HOA -$150
Property Management Fees -$143
CASH FLOW
-$234

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.

$479,900

PROJECTED PRICE

$2,420

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.34%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$14,618

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,579

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4203$2,5004$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 15940 Chorus Lane Fontana, 2
    • 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.06
    •  
  • 15362 Darlene Street Fontana, 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
    •  
  • 7333 Rosebay Place Fontana, 3
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2003
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.06
    •  
  • 6963 Tailwind Lane Fontana, 4
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2002
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.14
    •  
  • 7143 Helena Place Fontana, 5
    • 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
    •  
PROPERTY LISTING DETAILS
Quyen Tran
Century 21 King
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20169517
Last Updated: 08/22/2020
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