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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $466.10
- 6 Days on Market
- MLS # : DW21021788
- Updated Date : 02/04/2021 at 10:46
CONSTRUCTION
- Beds : 3
- Floor Size : 1,180 sqft
- Baths : 2 full , 1 half
Listing Agent
Your Home Real Estate, Inc.
Listing Agent's Description
ALL NEW TOTALLY REMODELED BEAUTIFUL Home in the City of Montclair! This is the perfect turn key Home for your Buyers featuring 3 Bedrooms, master bath & walk-in closet, 2.5 Bathrooms with a Huge Back Yard & Driveway! Perfect for your RV, Boats & other Toys. Check out the High ceilings, New kitchen, bathrooms and Plumbing & Electrical. The New Central AIR AC will Keep you cool in summer and warm in winter! This Beautiful Home is Ready to move in and Located near Montclair Place with newly built night life, restaurants and schools! Buyers or Buyers agent to due their due diligence on the accuracy of property square footage, no warranties expressed or implied. THIS HOME IS VACANT AND READY FOR SHOWINGS! Please follow Covid-19 guidelines and Protocols for a Safe Showing!
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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
Neighborhood: Montclair
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Montclair
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,910 |
| EXPENSES | Loan Payment | -$1,910 |
| Property Tax | -$505 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$113 | |
|
CASH FLOW
-$674
|
||
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.
$550,000
PROJECTED PRICE
$1,910
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 7.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| 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
$151,500
LOAN DETAILS
$1,910
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
0.33
YEARS SAVED
$281
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,910
LIST RENT -
$1.62
LIST RENT PER SQFT
-
$1,909
COMP ESTIMATED VALUE -
$1.62
COMP AVG. RENT PER SQFT
Comps Range
-
10196 Bolton Avenue Montclair, CA 1
- 3 beds 3 baths ∙ 1,180 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,180 Sqft ∙ Built 1955
- Rent
- Rent Per SQFT
- $1,910
- $1.62
-
9558 Marion Montclair, CA 2
- 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1957
LEASED 02/23/20- Rent
- Rent Per SQFT
- $2,250
- $1.70
-
1926 Bonnie Brae Street Pomona, CA 3
- 3 beds 1 baths ∙ 1,462 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,462 Sqft ∙ Built 1953
LEASED 01/09/21- Rent
- Rent Per SQFT
- $2,300
- $1.57
-
4971 Granada Street Montclair, CA 4
- 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1961
LEASED 11/21/19- Rent
- Rent Per SQFT
- $2,400
- $1.63
-
10026 Marion Avenue Montclair, CA 5
- 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 1961
LEASED 06/01/20- Rent
- Rent Per SQFT
- $2,400
- $1.57
PROPERTY LISTING DETAILS
Your Home Real Estate, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: DW21021788
Last Updated: 02/04/2021
