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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $208.89
- 5 Days on Market
- MLS # : CV20264466
- Updated Date : 01/02/2021 at 11:57
CONSTRUCTION
- Beds : 4
- Floor Size : 2,992 sqft
- Baths : 3 full
Listing Agent
All Nations Realty
Listing Agent's Description
The home offers a bedroom and full bathroom on the main floor, spacious kitchen and open floor plan and has been remodeled for the new owner with new modern flooring, new paint and new carpet. The first floor also has a spacious laundry room and direct access to a three car garage. This home is move-in ready. The upstairs offers 3 large bedrooms, 2 bathrooms and massive loft. The master bedroom offers a walk-in closet, roman tub and separate shower. The back yard offers block wall fencing all around, a large covered patio, play house, 2 storage sheds and has a bar area and is ready for a built-in BBQ, This is a must see. It also offers central air and heat, a cozy fireplace and amazing mountain views.
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MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Sierra Lakes
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sierra Lakes
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,770 |
| EXPENSES | Loan Payment | -$2,306 |
| Property Tax | -$708 | |
| Property Insurance | -$100 | |
| Property Management Fees | -$163 | |
|
CASH FLOW
-$507
|
||
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
$2,770
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 5.6% |
| 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
$2,306
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $156,250 |
| Loan Amount | $468,750 |
1.67
YEARS SAVED
$8,490
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,770
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$2,917
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
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15767 Rock Point Lane Fontana, CA 1
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- $2,700
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LEASED 12/01/20- Rent
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- $2,850
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15957 Turtle Bay Place Fontana, CA 4
- 5 beds 3 baths ∙ 2,992 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,992 Sqft ∙ Built 2005
LEASED 09/08/20- Rent
- Rent Per SQFT
- $2,895
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-
16386 Los Coyotes Street Fontana, CA 5
- 5 beds 2 baths ∙ 2,992 Sqft ∙ Built 2004 5 beds 2 baths ∙ 2,992 Sqft ∙ Built 2004
LEASED 12/15/20- Rent
- Rent Per SQFT
- $3,000
- $1.00
PROPERTY LISTING DETAILS
All Nations Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20264466
Last Updated: 01/02/2021
