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6342 Casey Way Fontana, CA 92336

4 Beds 3 Baths 2,590 sqft Built 2018

$589,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $227.41
  • 2 Days on Market
  • MLS # : IV20229720
  • Updated Date : 11/02/2020 at 15:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,590 sqft
  • Baths : 3 full
Listing Agent

Caldwell & Taylor Realty

Listing Agent's Description

Just listed beauty!! Built in 2018 this Etiwanda Ridge Smart Home features SOLAR, Internet upgrades for every room, NO HOA, Carpet and tile upgrades from Lennar Homes, Ring, fresh paint, Aluma Wood patio with extended cement, Custom built seating with fire pit, Mountain Views, extended driveway, Tank-less Water Heater, and Wood Shutters throughout. This home features too much to list and is a must see. The Home is in the much desired Etiwanda School District and near parks, schools, shopping and the freeway.

SEE MORE

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

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
Etiwanda Colony Elementary School Primary Regular 885 35 9
Summit Intermediate School Middle Regular 1,108 49 7
Etiwanda High School High Regular 3,458 126 8

Etiwanda Colony Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 35
9
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
 

$530,100$647,900$589,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,173
Property Tax -$696
Property Insurance -$90
Property Management Fees -$159
CASH FLOW
-$418

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.

$589,000

PROJECTED PRICE

$2,700

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,694

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,7004$2,7005$2,900
$2,900
RENT COMPS ANALYSIS
  • 6342 Casey Way Fontana, CA 4
    • 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.04
    •  
  • 15636 Caravelle Avenue Fontana, CA 1
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 1998
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.93
    •  
  • 6849 Earp Way Fontana, CA 2
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2005
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 15477 Mcdonnell Avenue Fontana, CA 3
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2000
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.11
    •  
  • 6342 Keystone Way Fontana, CA 5
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2018
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.12
    •  
PROPERTY LISTING DETAILS
Darren Mcbay
Caldwell & Taylor Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20229720
Last Updated: 11/02/2020
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