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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $306.82
- 3 Days on Market
- MLS # : CV21035382
- Updated Date : 02/20/2021 at 08:48
CONSTRUCTION
- Beds : 4
- Floor Size : 2,037 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Blackstone Rty
Listing Agent's Description
You dreams have become a reality!!! A rare find in the Hunters Ridge community of North Fontana has hit the market!! This homes has it all and defines perfection. This immaculate home includes upgrades galore with laminate flooring, newer carpet, partial plantation shutters, newer air conditioner, water heater, and entire interior has been recently painted. This home is TURNKEY!! The gourmet kitchen has granite counter tops, stainless steel appliances, and gorgeous cabinetry. There is a downstairs office with built ins that allows your "work from home" experience a lot more enjoyable. The 3 car garage has been semi converted as an extra playroom but can also be a full 3 car garage. The entire lot has been completely landscaped with low maintenance yet plenty of room for entertaining, kids and or animals to play. The home is centrally located and close to everything including the famed Victoria Gardens Shopping Mall, Ontario Mills, 15 freeway access, great schools in the Chaffey & Etiwanda school districts, lots of shopping and restaurants. A home like this will not LAST LONG!!! CALL TODAY TO SCHEDULE YOUR APPOINTMENT!!!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Hunter's Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hunter's Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,490 |
| EXPENSES | Loan Payment | -$2,171 |
| Property Tax | -$691 | |
| Property Insurance | -$77 | |
| Property Management Fees | -$147 | |
|
CASH FLOW
-$595
|
||
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.
$625,000
PROJECTED PRICE
$2,490
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$171,375
LOAN DETAILS
$2,171
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $156,250 |
| Loan Amount | $468,750 |
1.08
YEARS SAVED
$2,885
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,490
LIST RENT -
$1.22
LIST RENT PER SQFT
-
$2,541
COMP ESTIMATED VALUE -
$1.25
COMP AVG. RENT PER SQFT
Comps Range
-
5359 Grand Prix Court Fontana, CA 4
- 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1998
![property image]()
- Rent
- Rent Per SQFT
- $2,490
- $1.22
-
14729 Foxfield Lane Fontana, CA 1
- 4 beds 3 baths ∙ 1,776 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,776 Sqft ∙ Built 1997
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LEASED 05/28/20- Rent
- Rent Per SQFT
- $2,300
- $1.30
-
14736 Nova Scotia Drive Fontana, CA 2
- 4 beds 3 baths ∙ 2,092 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,092 Sqft ∙ Built 1998
![property image]()
LEASED 02/29/20- Rent
- Rent Per SQFT
- $2,400
- $1.15
-
5508 Lone Pine Drive Fontana, CA 3
- 5 beds 3 baths ∙ 2,053 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,053 Sqft ∙ Built 1998
![property image]()
LEASED 01/28/20- Rent
- Rent Per SQFT
- $2,450
- $1.19
-
5586 Lone Pine Drive Fontana, CA 5
- 5 beds 3 baths ∙ 2,053 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,053 Sqft ∙ Built 1996
![property image]()
LEASED 08/26/20- Rent
- Rent Per SQFT
- $2,780
- $1.35
PROPERTY LISTING DETAILS
Coldwell Banker Blackstone Rty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21035382
Last Updated: 02/20/2021
