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6938 Amber Sky Way Fontana, CA 92336

3 Beds 3 Baths 1,741 sqft Built 2018

$470,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $269.96
  • 2 Days on Market
  • MLS # : IG20244696
  • Updated Date : 11/21/2020 at 16:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,741 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group West

Listing Agent's Description

Welcome home to this wonderful home located in the community of Bell Estrada, North Fontana. As you enter this turnkey home you will notice the open floorplan, with custom paint throughout the home, wood laminate flooring downstairs, carpet on stairs that continues throughout the upstairs, custom plantation shutters throughout the property. A half bathroom downstairs. The kitchen offers an abundance of countertop space, recess lighting, 5 burner stove top, a separate pantry , the Kitchen is opened to the living room so you will never miss a moment when entertaining your guest. Upstairs you will find an extra large Primary bedroom, large bathroom with walk-in shower and a extra large walk-in closet. The other bedroom located upstairs are spacious and cozy. The backyard is features custom hardscaped with a firepit, patio, and best of all, low maintenance. The community features a pool, playground and grass area for you to enjoy. This home is move in ready and just waiting for you.

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
Kathy Binks Elementary School Primary Regular 616 22 4
Wayne Ruble Middle School Middle Regular 1,168 47 5
Fontana A. B. Miller High School High Regular 2,352 112 4

Kathy Binks Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 22
4
GreatSchools Rating

Wayne Ruble Middle School

  • Education Level: Middle
  • # of students: 1,168
  • # of teachers: 47
5
GreatSchools Rating

Fontana A. B. Miller High School

  • Education Level: High
  • # of students: 2,352
  • # of teachers: 112
4
GreatSchools Rating
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,734
Property Tax -$497
Property Insurance -$69
HOA -$74
Property Management Fees -$123
CASH FLOW
-$408

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.

$470,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.44%

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

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$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,831

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,372

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,1003$2,4004$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 6938 Amber Sky Way Fontana, CA 1
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.20
    •  
  • 16418 El Revino Drive Fontana, CA 2
    • 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 2004
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.34
    •  
  • 16820 Birchwood Lane Fontana, CA 3
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2017
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.38
    •  
  • 16746 Birchwood Lane Fontana, CA 4
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2017
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.41
    •  
  • 16518 El Revino Drive Fontana, CA 5
    • 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 2005
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.32
    •  
PROPERTY LISTING DETAILS
Michelle Parker
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20244696
Last Updated: 11/21/2020
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