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16839 Morning Dew Lane Fontana, CA 92336

4 Beds 3 Baths 2,578 sqft Built 2016

$528,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $204.81
  • 3 Days on Market
  • MLS # : WS21059638
  • Updated Date : 03/26/2021 at 16:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,578 sqft
  • Baths : 3 full
Listing Agent

Re/max Vertex

Listing Agent's Description

A spacious single family house located in the quiet community near shopping areas, schools, and recreations. Community also offering pool and playground. This house features plenty of natural light with 4 bedrooms, 3 bathrooms, 2,578 sqft, good size backyard to plant trees and flowers, upstairs dens can be used as office or family room, and local community pool. There is one bedroom and bathroom on the ground floor for guest or elder family member. There are three bedrooms and two bathrooms upstairs with 2 walk-in closets in the master suite and one family room/den upstairs. Move fast before the chance to own this beautiful house is gone.

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

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
Kathy Binks Elementary School Primary Regular 616 22 4
Wayne Ruble Middle School Middle Regular 1,168 47 5
Fontana A. B. Miller High School High Regular 2,352 112 4

Kathy Binks Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 22
4
GreatSchools Rating

Wayne Ruble Middle School

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

Fontana A. B. Miller High School

  • Education Level: High
  • # of students: 2,352
  • # of teachers: 112
4
GreatSchools Rating
 

$475,200$580,800$528,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,834
Property Tax -$559
Property Insurance -$90
HOA -$75
Property Management Fees -$154
CASH FLOW
-$101

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.

$528,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$5.0k$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,670

INVESTMENT

$145,670

Down Payment
$132,000
Rehab Estimate
$5,750
Closing Costs
$7,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,000
Loan Amount $396,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$23,708

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,572

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5503$2,6004$2,6105$2,800
$2,800
RENT COMPS ANALYSIS
  • 16839 Morning Dew Lane Fontana, CA 4
    • 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.01
    •  
  • 16124 St Antony Lane Fontana, CA 1
    • 3 beds 3 baths ∙ 2,591 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,591 Sqft ∙ Built 2014
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.92
    •  
  • 16540 Westmoor Place Fontana, CA 2
    • 3 beds 3 baths ∙ 2,414 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,414 Sqft ∙ Built 2013
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.06
    •  
  • 16930 San Jacinto Fontana, CA 3
    • 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 2017
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.00
    •  
  • 7041 Sweetleaf Drive Fontana, CA 5
    • 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2017
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.01
    •  
PROPERTY LISTING DETAILS
Edward Chen
Re/max Vertex
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21059638
Last Updated: 03/26/2021
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