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16606 Pennard Lane Fontana, CA 92336

3 Beds 3 Baths 1,889 sqft Built 2005

$510,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $269.98
  • 6 Days on Market
  • MLS # : CV21039246
  • Updated Date : 03/01/2021 at 14:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,889 sqft
  • Baths : 2 full , 1 half
Listing Agent

Todd Picconi Real Estate

Listing Agent's Description

Spectacular Sierra Lakes Golf Course Home with Three Bedrooms + Optional Fourth + Loft! Enjoy Stunning Panoramic Golf Course and Mountain Views from this Turnkey 2-Story Home. Open Concept Floorplan combines Living, Dining and Kitchen downstairs with 9 foot ceilings, recessed lights and Fairway, golf course views. Tiled floors downstairs w/breakfast bar in kitchen, abundant granite counter space and cabinet storage w/direct garage access. Newer Appliances in kitchen and laundry room all included! Additional Room downstairs which can be your 4th bedroom OR Home Office near powder room. Straight Staircase leads to Open Concept upstairs complete with 3 bedrooms, loft w/built-in desk area, abundant storage and individual laundry room upstairs as well. All upstairs bedrooms are sizable including En-Suite Bedroom. Step into your comfy En-Suite Bedroom with slider to your deck. The deck overlooks your large backyard w/unobstructed golf course views. Fully landscaped Backyard has patio with concrete deck, plus expanded uncovered deck allow you to find your place in the Sun. Backyard also includes grass, landscaping and room to plant your own garden! Or maybe add a pool? Either way, this Home is one of the nicest that You will find and affordably priced. Plan to tour this Beautiful Sierra Lakes Home and Please keep it on your short list. Professional Photos will be uploaded by Saturday, February 27th, 2021. Showings begin Saturday Afternoon.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sierra Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $148k584k

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

Neighborhood: Sierra Lakes

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10822524

* 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
Sierra Lakes Elementary School Primary Regular 734 26 5
Wayne Ruble Middle School Middle Regular 1,168 47 5
Summit High School High Regular 2,606 108 6

Sierra Lakes Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 26
5
GreatSchools Rating

Wayne Ruble Middle School

  • Education Level: Middle
  • # of students: 1,168
  • # of teachers: 47
5
GreatSchools Rating

Summit High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 108
6
GreatSchools Rating
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,771
Property Tax -$578
Property Insurance -$73
Property Management Fees -$141
CASH FLOW
-$173

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.

$510,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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$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$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

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
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$17,577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,522

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,4003$2,5004$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 16606 Pennard Lane Fontana, CA 1
    • 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.27
    •  
  • 6312 Long Cove Drive Fontana, CA 2
    • 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 2005
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.33
    •  
  • 16518 El Revino Drive Fontana, CA 3
    • 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 2005
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.32
    •  
  • 6062 Hilton Head Lane Fontana, CA 4
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2000
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.25
    •  
  • 16748 Broadmoor Way Fontana, CA 5
    • 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.44
    •  
PROPERTY LISTING DETAILS
Todd Picconi
Todd Picconi Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21039246
Last Updated: 03/01/2021
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