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10415 Felipe Avenue Montclair, CA 91763

4 Beds 3 Baths 2,091 sqft Built 1990

$640,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $306.07
  • 2 Days on Market
  • MLS # : CV21047244
  • Updated Date : 03/06/2021 at 13:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,091 sqft
  • Baths : 3 full
Listing Agent

Investcorp Real Estate

Listing Agent's Description

This cozy home is located on a quiet cul-de-sac neighborhood. Freshly painted all exterior and interior done in the spacious living room, family room, formal dining room and kitchen w/ granite counter tops and nook area. Wood laminate floors, two large bonus rooms added with permits. Private back-yard, covered patio and close to freeway/ shopping mall.

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k497k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Montclair

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900200021002200Rent in $9112210

* 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
Serrano Middle School Middle Regular 769 39 7
Montclair High School High Regular 3,034 117 6
Serrano Middle School Middle Unknown NA

Serrano Middle School

  • Education Level: Middle
  • # of students: 769
  • # of teachers: 39
7
GreatSchools Rating

Montclair High School

  • Education Level: High
  • # of students: 3,034
  • # of teachers: 117
6
GreatSchools Rating

Serrano Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$576,000$704,000$640,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$2,223
Property Tax -$588
Property Insurance -$78
Property Management Fees -$145
CASH FLOW
-$583

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.

$640,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,350

INVESTMENT

$175,350

Down Payment
$160,000
Rehab Estimate
$5,750
Closing Costs
$9,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,223

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $160,000
Loan Amount $480,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,584

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,577

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,7004$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 10415 Felipe Avenue Montclair, CA 1
    • 4 beds 3 baths ∙ 2,091 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,091 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.17
    •  
  • 4638 Kingsley Street Montclair, CA 2
    • 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 1997
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.14
    •  
  • 1085 Camellia Court Pomona, CA 3
    • 5 beds 3 baths ∙ 2,299 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,299 Sqft ∙ Built 1997
    LEASED 02/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.17
    •  
  • 4192 Via Dante Montclair, CA 4
    • 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2009
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.30
    •  
  • 5035 Rodeo Street Montclair, CA 5
    • 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2006
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.32
    •  
PROPERTY LISTING DETAILS
Kevin Merritt
Investcorp Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21047244
Last Updated: 03/06/2021
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