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16997 Raven Street Fontana, CA 92336

3 Beds 3 Baths 1,944 sqft Built 2016

$480,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $246.91
  • 4 Days on Market
  • MLS # : EV20238457
  • Updated Date : 11/13/2020 at 12:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,944 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Lois Lauer Realty

Listing Agent's Description

Beautiful Sierra Crest two story home. Complete with 3 bedrooms and 2.5 bathrooms, this home is turnkey. Upon entry to the foyer, you will notice brand new upgraded luxury vinyl flooring throughout the main level of the home. With an open concept kitchen and living area, this home has plenty of room to entertain. The kitchen boasts white cabinets, granite countertops, stainless steel appliances and a large island perfect for family gatherings. The living area opens to the backyard with a covered patio and artificial turf for easy maintenance. Once you reach the top of the staircase you will see a built in "office" area that is ideal for distance learners or a work from home lifestyle. The master suite has a huge walk in closet, double vanity sinks, free standing shower and garden bathtub. The other two bedrooms upstairs are perfect for children or guests. Other upgrades for this home include window shutters throughout. This home is also designed to accommodate a generator if the power should ever go out. You will fall in love with this home the second you walk in!

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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

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
Kordyak Elementary School Primary Regular 480 16 5
Kucera Middle School Middle Regular 1,218 45 2
Carter High School High Regular 2,412 98 6

Kordyak Elementary School

  • Education Level: Primary
  • # of students: 480
  • # of teachers: 16
5
GreatSchools Rating

Kucera Middle School

  • Education Level: Middle
  • # of students: 1,218
  • # of teachers: 45
2
GreatSchools Rating

Carter High School

  • Education Level: High
  • # of students: 2,412
  • # of teachers: 98
6
GreatSchools Rating
 

$432,000$528,000$480,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,771
Property Tax -$522
Property Insurance -$74
Property Management Fees -$127
CASH FLOW
-$335

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.

$480,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.45%

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

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$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$9,239

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,211

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,160
1$2,1602$2,3003$2,4004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 16997 Raven Street Fontana, CA 1
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.11
    •  
  • 3750 Goldenrod Avenue Rialto, CA 2
    • 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1996
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.15
    •  
  • 16777 Colonial Drive Fontana, CA 3
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2000
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.11
    •  
  • 5784 Hacienda Way Fontana, CA 4
    • 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2000
    LEASED 07/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.11
    •  
  • 16690 Baywood Lane Fontana, CA 5
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2000
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.18
    •  
PROPERTY LISTING DETAILS
April Mann
Century 21 Lois Lauer Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV20238457
Last Updated: 11/13/2020
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