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16424 Fontlee Lane Fontana, CA 92335

4 Beds 2 Baths 1,548 sqft Built 1977

$449,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1977
  • Price/Sqft : $290.63
  • 11 Days on Market
  • MLS # : CV20225243
  • Updated Date : 10/24/2020 at 17:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,548 sqft
  • Baths : 2 full
Listing Agent

Century 21 King

Listing Agent's Description

Located in Fontana you will find this amazing one story home offering a 4 bedrooms, 2 bathrooms, Sellers have really put in a lot of love and work into this gorgeous home featuring an open floor plan, with a large living room, dinning room, nice size kitchen with plenty of cabinet space, breakfast counter, quartz counters and self closing drawers. Master bedroom with walk in closet, dual sink, new quartz counter and a custom shower . The three other bedrooms are a good size with a full bath with new vanity and quartz counter. The backyard has a slab and block wall fencing. This home is absolutely gorgeous inside. Spacious and comfortable living. Close to everything, 10, 60 and 15 Fwy's, shops, restaurant and entertainment. Property has been upgraded! NEW flooring - NEW carpets - NEW quartz counter tops - NEW kitchen cabinets - NEW doors and brass door knobs - NEW exterior and interior paint - NEW base boards - and so many others upgrades! COME AND SEE THIS GREAT OPPORTUNITY !! IT WILL NOT LAST !!

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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

Neighborhood: Fontana

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k479k

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

Neighborhood: Fontana

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112139

* 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
Randall Pepper Elementary School Primary Regular 676 25 1
Harry S. Truman Middle School Middle Regular 1,213 53 2
Fontana High School High Regular 2,536 120 5

Randall Pepper Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 25
1
GreatSchools Rating

Harry S. Truman Middle School

  • Education Level: Middle
  • # of students: 1,213
  • # of teachers: 53
2
GreatSchools Rating

Fontana High School

  • Education Level: High
  • # of students: 2,536
  • # of teachers: 120
5
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,660
Property Tax -$478
Property Insurance -$65
Property Management Fees -$139
CASH FLOW
$9

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.

$449,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$34,274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $2,310

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,3004$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 16424 Fontlee Lane Fontana, CA 5
    • 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.52
    •  
  • 16290 Fontlee Court Fontana, CA 1
    • 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1980
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.53
    •  
  • 9220 Citrus Avenue Fontana, CA 2
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1985
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.43
    •  
  • 15348 Granada Avenue Fontana, CA 3
    • 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 1990
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.48
    •  
  • 9466 Emerald Avenue Fontana, CA 4
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1972
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.53
    •  
PROPERTY LISTING DETAILS
Ricardo Acevedo
Century 21 King
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20225243
Last Updated: 10/24/2020
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