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16633 Colonial Drive Fontana, CA 92336

4 Beds 3 Baths 2,395 sqft Built 2002

$575,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $240.08
  • 5 Days on Market
  • MLS # : CV20232726
  • Updated Date : 11/04/2020 at 12:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,395 sqft
  • Baths : 2 full , 1 half
Listing Agent

Telford Real Estate

Listing Agent's Description

3-D tour: https://my.matterport.com/show/?m=6jATfA3RWCz&mls=1 Lovely, two-story pool home located on the golf course in beautiful Sierra Lakes community, North Fontana. Situated close to the Sierra Lakes Clubhouse w/beautiful views of the lush golf-course landscaping including a pond & soothing water fountain+lovely mountain views. Truly a golfer’s delight. Great floor plan w/approx. 2,395 sqft of spacious living space, 4 bedrooms with a possibility of a 5th bedroom & 2.5 baths. Features: high ceilings, refinished hardwood flooring throughout+tile flooring in the baths, recessed lighting, plantation shutters & window blinds, ceiling fans, mirror closet doors & conveniently located upstairs laundry rm. Large formal living & dining room. Kitchen boasts Granite counter top, plenty of cabinetry, island, pantry & built-in stainless steel appliances including 5 burner range, microwave, dishwasher & built-in Monogram refrigerator. Adjoining, family room w/cozy fireplace. Large master suite w/an extra room that could be used as a retreat, adjacent sitting area, office or even made into a 5th bedroom. Master bath featuring walk-in closet, two sinks, soaking Jacuzzi tub & separate shower. Property offers great curb appeal w/low maintenance yard. Nice cement patio area surrounding sparkling pool/spa for your enjoyment. Plus an island w/2 built-in BBQs. Finished 2 car garage. Property is commuter friendly w/easy access to the 210 fwy, plus close to shopping, schools, restaurants & more!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,122
Property Tax -$651
Property Insurance -$85
Property Management Fees -$143
CASH FLOW
-$571

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.

$575,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.42%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,593

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,401

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3803$2,4204$2,4305$2,475
$2,475
RENT COMPS ANALYSIS
  • 16633 Colonial Drive Fontana, CA 4
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.01
    •  
  • 5799 Hacienda Way Fontana, CA 1
    • 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2000
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.04
    •  
  • 16719 Escalon Drive Fontana, CA 2
    • 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 2000
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.01
    •  
  • 5792 Rina Court Fontana, CA 3
    • 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2001
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.96
    •  
  • 16733 Escalon Drive Fontana, CA 5
    • 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 2000
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.00
    •  
PROPERTY LISTING DETAILS
Nancy Telford
Telford Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20232726
Last Updated: 11/04/2020
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