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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $312.50
- 3 Days on Market
- MLS # : CV21034958
- Updated Date : 02/19/2021 at 16:28
CONSTRUCTION
- Beds : 4
- Floor Size : 1,728 sqft
- Baths : 2 full
Listing Agent
Re/max Champions
Listing Agent's Description
The hunt is over, Upgraded and Remodeled Montclair Home with Permitted 648sqft and a 3Yr Old Roof. This home offers 4 bedrooms and 2 bathrooms. Open floor plan with fully Remodeled Kitchen with Granite counter tops, Ceramic Tile Flooring. Living room with Custom French doors leading to Den. Top of the Line AC Unit with built in purification & WIFI. New windows throughout the home, Remodeled Bathrooms. Home is centrally located close to schools and freeways.
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MARKET HIGHLIGHTS
- 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)
- 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)
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 | $2,400 |
| EXPENSES | Loan Payment | -$1,876 |
| Property Tax | -$496 | |
| Property Insurance | -$69 | |
| Property Management Fees | -$142 | |
|
CASH FLOW
-$182
|
||
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.
$540,000
PROJECTED PRICE
$2,400
PROJECTED RENT
0.44%
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
$148,850
LOAN DETAILS
$1,876
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $135,000 |
| Loan Amount | $405,000 |
3.67
YEARS SAVED
$18,479
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,400
LIST RENT -
$1.39
LIST RENT PER SQFT
-
$2,704
COMP ESTIMATED VALUE -
$1.57
COMP AVG. RENT PER SQFT
Comps Range
-
10246 Vernon Avenue Montclair, CA 3
- 3 beds 1 baths ∙ 1,728 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,728 Sqft ∙ Built 1955
- Rent
- Rent Per SQFT
- $2,400
- $1.39
-
1513 W F Street Ontario, CA 1
- 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955
LEASED 09/23/19- Rent
- Rent Per SQFT
- $2,300
- $1.60
-
10026 Marion Avenue Montclair, CA 2
- 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
-
1515 W Berkeley Court Ontario, CA 4
- 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1956
LEASED 09/30/20- Rent
- Rent Per SQFT
- $2,600
- $1.41
-
1448 W E Street Ontario, CA 5
- 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1956
LEASED 02/14/21- Rent
- Rent Per SQFT
- $2,600
- $1.68
PROPERTY LISTING DETAILS
Re/max Champions
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21034958
Last Updated: 02/19/2021
