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5310 Caribou Lane Fontana, CA 92336

6 Beds 3 Baths 2,305 sqft Built 2003

$584,900

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $253.75
  • 2 Days on Market
  • MLS # : IV21058402
  • Updated Date : 03/20/2021 at 10:46
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,305 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Amazing opportunity for your LARGE family! This massive 6 bedroom Etiwanda school district home is ideally situated at the end of a pristine cul-de-sac, set back from the neighbors helping you utilize every inch of this meticulously maintained lot. As soon as you drive up you are greeted with an extra wide driveway, giving you the perfect potential for a small RV or Trailer. Entering the home you find newly installed vinyl flooring leading you to the ideal open concept kitchen/living room set up. The kitchen features one of the largest islands imaginable topped with brand new granite. Perfect for extra seating and entertaining your guests. Nestle around the wood burning/gas fireplace during the holidays with peace of mind as it was just cleaned & inspected. Upstairs is the perfect opportunity to build out your dream deck as the master bedroom has unimpeded mountain valley views for as far as the eye can see. Storage space is abundant with this finished garage and extra storage area the seller professionally converted under the stairs! With school bus pick up just steps from your front door taking your children to top rated education; this home is truly the perfect family home!

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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: Hunter's Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $148k606k

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

Neighborhood: Hunter's Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10822523

* 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
David W. Long Elementary School Primary Regular 826 33 8
Summit Intermediate School Middle Regular 1,108 49 7
Etiwanda High School High Regular 3,458 126 8

David W. Long Elementary School

  • Education Level: Primary
  • # of students: 826
  • # of teachers: 33
8
GreatSchools Rating

Summit Intermediate School

  • Education Level: Middle
  • # of students: 1,108
  • # of teachers: 49
7
GreatSchools Rating

Etiwanda High School

  • Education Level: High
  • # of students: 3,458
  • # of teachers: 126
8
GreatSchools Rating
 

$526,410$643,390$584,900

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,032
Property Tax -$641
Property Insurance -$83
Property Management Fees -$150
CASH FLOW
-$356

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.

$584,900

PROJECTED PRICE

$2,550

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.7%
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-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,749

INVESTMENT

$160,749

Down Payment
$146,225
Rehab Estimate
$5,750
Closing Costs
$8,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,225
Loan Amount $438,675
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$10,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,674

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5504$2,780
$2,780
RENT COMPS ANALYSIS
  • 5310 Caribou Lane Fontana, CA 3
    • 6 beds 3 baths ∙ 2,305 Sqft ∙ Built 2003 6 beds 3 baths ∙ 2,305 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.11
    •  
  • 5508 Lone Pine Drive Fontana, CA 1
    • 5 beds 3 baths ∙ 2,053 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,053 Sqft ∙ Built 1998
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.19
    •  
  • 5119 St Albert Drive Fontana, CA 2
    • 5 beds 2 baths ∙ 2,648 Sqft ∙ Built 1998 5 beds 2 baths ∙ 2,648 Sqft ∙ Built 1998
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.94
    •  
  • 5586 Lone Pine Drive Fontana, CA 4
    • 5 beds 3 baths ∙ 2,053 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,053 Sqft ∙ Built 1996
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.35
    •  
PROPERTY LISTING DETAILS
Scott Gee
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21058402
Last Updated: 03/20/2021
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