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4742 Casillas Way Fontana, CA 92336

3 Beds 3 Baths 2,161 sqft Built 2016

$499,999

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $231.37
  • 3 Days on Market
  • MLS # : PW20247285
  • Updated Date : 11/28/2020 at 10:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,161 sqft
  • Baths : 2 full , 1 half
Listing Agent

Home Smart Realty Group

Listing Agent's Description

Welcome Home. This is a Lovely, Spanish Style, Energy Efficient, Highly Upgraded, Newly Built (2016) Meritage Home. This wonderful Family home is located in Fontana’s most Desirable Community of Sierra Heights. Ideal for Commuters and Easy Access to Schools, Parks, Hiking, Restaurants, Shopping and Freeways. Amenities Include: Spectacular Mountain View, Great Open Floor Plan, 3 Large Bedrooms, Each with their own Walk-In Closets, Master Bedroom with Bath, Inside Laundry Room, Living Room, Upstairs Family Room, Recessed Lighting, Tall Ceilings, Kitchen Island, Office Space, Backyard Patio, Yard Sprinkler System, Fire Sprinkler System, 2 Car Attached Direct Access Garage & 2 Car Driveway. Be sure to check out the Virtual Tour and Call to schedule an Appointment Today!

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

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
 

$449,999$549,999$499,999

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,845
Property Tax -$544
Property Insurance -$80
Property Management Fees -$137
CASH FLOW
-$285

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.

$499,999

PROJECTED PRICE

$2,320

PROJECTED RENT

0.46%

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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$13,544

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,458

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3203$2,4004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 4742 Casillas Way Fontana, CA 2
    • 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.07
    •  
  • 3750 Goldenrod Avenue Rialto, CA 1
    • 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
Alex Montelongo
Home Smart Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20247285
Last Updated: 11/28/2020
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