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16684 Baywood Lane Fontana, CA 92336

5 Beds 2 Baths 2,602 sqft Built 2000

$599,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $230.21
  • 5 Days on Market
  • MLS # : IV20250070
  • Updated Date : 12/04/2020 at 09:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,602 sqft
  • Baths : 2 full
Listing Agent

The Western Group Real Estate

Listing Agent's Description

This gorgeous 5 bedroom 3 bath home, boast 2602sq ft. of open living space. Located on the 8th hole of the prestigious Sierra Lakes golf course. From the moment you drive up to the property, you will see that this home has been well cared for, and upkept beautifully. Enter the home to your spacious living room, with open floor plan. Roomy formal dining room. Hardwood flooring throughout the entire home. There is a huge kitchen with beautiful granite counters and island. Tons of cabinet space that makes this kitchen a chefs dream. The kitchen opens to a large great room with cozy fireplace view of gold course. There is a downstairs bedroom and a separate three quarter bath downstairs for guest. Then go up your grand spiral staircase with hardwood stairs to you loft area. The master suite is massive, gold course view. Bathroom has separate shower and soaking tub with double sinks. Huge walk in closet with plenty of space for just about everything. Three more bedrooms upstairs with one that is as large as the master retreat. Large upstairs bathroom with double sinks and laundry room with sink. For entertaining outdoors you have a beautifully landscaped backyard that is right on the 8th hole of Sierra Lakes Gold Course. Upgrades throughout home. This home is close to shopping, restaurants and entertainment. This home is perfect for a large family and is sure to satisfy the most sophisticated taste. Come see the Diamond of the Sierra Lakes Community.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$539,100$658,900$599,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$2,210
Property Tax -$678
Property Insurance -$90
Property Management Fees -$143
CASH FLOW
-$701

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.

$599,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.40%

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$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,221

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
  • $0.93

    LIST RENT PER SQFT
  • $2,504

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,420
1$2,4202$2,4203$2,5004$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 16684 Baywood Lane Fontana, CA 2
    • 3 beds 3 baths ∙ 2,602 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,602 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.93
    •  
  • 5792 Rina Court Fontana, CA 1
    • 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
    •  
  • 16703 Colonial Drive Fontana, CA 3
    • 3 beds 3 baths ∙ 2,602 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,602 Sqft ∙ Built 2001
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
  • 16748 Colonial Drive Fontana, CA 4
    • 3 beds 3 baths ∙ 2,602 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,602 Sqft ∙ Built 2000
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
  • 6046 Eaglemont Drive Fontana, CA 5
    • 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
PROPERTY LISTING DETAILS
Craig Finlayson
The Western Group Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20250070
Last Updated: 12/04/2020
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