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PROPERTY INFO
FACTS
- Single Family
- Built In 1976
- Price/Sqft : $316.89
- 13 Days on Market
- MLS # : CV20262214
- Updated Date : 02/04/2021 at 22:13
CONSTRUCTION
- Beds : 3
- Floor Size : 2,048 sqft
- Baths : 2 full
Listing Agent
Re/max Resources
Listing Agent's Description
Are you looking for a very special place to call home?? Do not look any further! You will be so excited when you pull up in front of this amazing property. Enter to find an open and bright floorplan. So many upgrades have been made to this property. You will find smooth ceilings, fresh paint and new carpet, plus, wood floors just to name a few! There is a very spacious formal living and dining area that is a wonderful place to share your special occasions. The kitchen, with it's gorgeous granite counters is a showplace, the nook and family room open to each other, providing a great room effect. Travel down the hall to find the spacious secondary bedrooms and master bedroom suite. This home is beautiful! Outdoors you will find a generously sized deck that over looks the spacious backyard. Tall, mature trees grace the property and the fruit trees provide an abundant harvest throughout the year. Nearby you will find the conveniences every homeowner wants. There is grocery shopping, a bagel shop, restaurants and so much more within a short walk. Additionally, schools are close by. If you need to commute, you will be located between the 10 and 210 freeways for easy access. Located close to Mt. Baldy, skiing, hiking and biking are all next door. Enjoy the benefits of being in town with all of the perks of outdoor living.
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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
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,580 |
| EXPENSES | Loan Payment | -$2,254 |
| Property Tax | -$606 | |
| Property Insurance | -$77 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$509
|
||
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.
$649,000
PROJECTED PRICE
$2,580
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| 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
$177,735
LOAN DETAILS
$2,254
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $162,250 |
| Loan Amount | $486,750 |
1.67
YEARS SAVED
$7,124
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,580
LIST RENT -
$1.26
LIST RENT PER SQFT
-
$2,714
COMP ESTIMATED VALUE -
$1.33
COMP AVG. RENT PER SQFT
Comps Range
-
1100 Patrick Street Upland, CA 3
- 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 1976 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 1976
![property image]()
- Rent
- Rent Per SQFT
- $2,580
- $1.26
-
834 W 16th Street Upland, CA 1
- 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1975
![property image]()
LEASED 08/16/19- Rent
- Rent Per SQFT
- $2,400
- $1.29
-
1596 Glenwood Way Upland, CA 2
- 3 beds 3 baths ∙ 1,972 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,972 Sqft ∙ Built 1977
![property image]()
LEASED 07/08/20- Rent
- Rent Per SQFT
- $2,500
- $1.27
-
1228 Diana Court Upland, CA 4
- 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1977
![property image]()
LEASED 04/23/20- Rent
- Rent Per SQFT
- $2,850
- $1.40
-
904 W 20th Street W Upland, CA 5
- 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1981
![property image]()
LEASED 09/25/20- Rent
- Rent Per SQFT
- $2,950
- $1.34
PROPERTY LISTING DETAILS
Re/max Resources
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20262214
Last Updated: 02/04/2021
