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17137 Lacebark Street Fontana, CA 92337

5 Beds 3 Baths 2,600 sqft Built 2005

$520,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $200.00
  • 6 Days on Market
  • MLS # : CV21001600
  • Updated Date : 01/05/2021 at 14:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,600 sqft
  • Baths : 3 full
Listing Agent

Re/max Time Realty

Listing Agent's Description

The precise location of this home has so much to offer for the family! Enjoy all the wonderful amenities and festivities "Jurupa Hills Regional Park" has to offer along with all the popular restaurants/plazas/shopping centers that is literally only walking distance away! Also take advantage of one of the most popular golf courses the Inland Empire has to offer: "Oak Quarry Golf Club" which is only 2 miles away! This home is conveniently situated only minutes away from the 10 freeway and only 3.5 miles away from the 60 Freeway! This home has everything you're looking for: upon entry you will walk into the formal family room that will then lead you to the formal living room which opens up to the kitchen. You will also notice wooden flooring throughout the family room/living room and throughout the kitchen which also contains tile counter tops and some backsplash for that finishing touch. There is one Bedroom and one FULL Bathroom located downstairs for those future in-laws or for someone who would like a little more privacy. This home also contains 4 more bedrooms located upstairs along with a separate laundry room. The backyard is the best part: concrete throughout along with a custom made/built in fire-pit for those cold nights and family gatherings. This home also comes with Solar Panels that will have you saving money for years to come! Come take a look at this home before it's too late!

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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

Neighborhood: Fontana

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k479k

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

Neighborhood: Fontana

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112139

* 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
Sycamore Hills Elementary School Primary Regular 911 36 6
Sycamore Hills Elementary School Middle Regular 911 36 6
Bloomington High School High Regular 2,037 84 4

Sycamore Hills Elementary School

  • Education Level: Primary
  • # of students: 911
  • # of teachers: 36
6
GreatSchools Rating

Sycamore Hills Elementary School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 36
6
GreatSchools Rating

Bloomington High School

  • Education Level: High
  • # of students: 2,037
  • # of teachers: 84
4
GreatSchools Rating
 

$468,000$572,000$520,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,806
Property Tax -$581
Property Insurance -$90
Property Management Fees -$152
CASH FLOW
-$59

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.

$520,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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$1.8M

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$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$25,540

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,531

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3253$2,5004$2,570
$2,570
RENT COMPS ANALYSIS
  • 17137 Lacebark Street Fontana, CA 4
    • 5 beds 3 baths ∙ 2,600 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,600 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.99
    •  
  • 16417 Applegate Drive Fontana, CA 1
    • 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 1995
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 10622 Miami Avenue Bloomington, CA 2
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2003
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.98
    •  
  • 10969 Persimmon Lane Fontana, CA 3
    • 4 beds 3 baths ∙ 2,605 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,605 Sqft ∙ Built 2005
    property image
    LEASED 08/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Raad Shalabi
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21001600
Last Updated: 01/05/2021
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