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1023 Driftwood Street 
Upland, CA
91784
4 Beds 3 Baths 2,024 sqft
Built 1984
INVESTimate
$789,888
List Price
$215,070
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PROPERTY INFO
FACTS
- Built In 1984
- Price/Sqft : $390.26
- 2 Days on Market
- MLS # : OC20166868
- Updated Date : 08/25/2020 at 20:42
CONSTRUCTION
- Beds : 4
- Floor Size : 2,024 sqft
- Baths : 3 full
Listing Agent
Kurt Nelson, Broker
Listing Agent's Description
Offered by the original owners, who have been meticulous in its maintenance and beautifully upgraded and enhanced it over the years. In recent years the home has been repainted, the windows replaced and the HVAC system updated. Beautiful hardwood flooring plus carpet in bedrooms. Generous Master bedroom suite plus 3 secondary bedrooms, one currently used as an exercise studio. From the kitchen with its polished granite counters, Tuscan cabinetry and newer stainless appliances to the oasis back yard with pebble tech pool/spa, Alumawood patio cover, professional slope landscape/lighting, high quality artificial turf, and RV access, you need to see the home in person to appreciate the quality and attention to detail.
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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: Upland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Upland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,770 |
| EXPENSES | Loan Payment | -$2,914 |
| Property Tax | -$725 | |
| Property Insurance | -$76 | |
| Property Management Fees | -$163 | |
|
CASH FLOW
-$1,109
|
||
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.
$789,888
PROJECTED PRICE
$2,770
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 6.07% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$215,070
LOAN DETAILS
$2,914
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $197,472 |
| Loan Amount | $592,416 |
0.25
YEARS SAVED
$302
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 -
$1.37
LIST RENT PER SQFT
-
$2,778
COMP ESTIMATED VALUE -
$1.37
COMP AVG. RENT PER SQFT
Comps Range
-
1023 Driftwood Street Upland, 3
- 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $2,770
- $1.37
-
2260 Verbena Avenue Upland, 1
- 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1984
LEASED 04/05/19- Rent
- Rent Per SQFT
- $2,395
- $1.42
-
2255 Wisteria Upland, 2
- 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 1985
LEASED 06/17/20- Rent
- Rent Per SQFT
- $2,750
- $1.44
-
904 W 20th Upland, 4
- 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1981
LEASED 11/21/19- Rent
- Rent Per SQFT
- $2,850
- $1.30
-
2196 N Albright Avenue Upland, 5
- 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1975
LEASED 03/16/20- Rent
- Rent Per SQFT
- $3,150
- $1.33
PROPERTY LISTING DETAILS
Kurt Nelson, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20166868
Last Updated: 08/25/2020
