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11139 Essex Avenue Montclair, CA 91763

4 Beds 3 Baths 1,862 sqft Built 1978

$649,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $349.03
  • 6 Days on Market
  • MLS # : IG21000820
  • Updated Date : 01/08/2021 at 12:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,862 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

A Tropical Paradise! Welcome to this lovely 4 bedroom, 2.5 bathroom home located in a desirable neighborhood in Montclair. Living and entertainment spaces galore starting with the beautiful living and dining rooms, then make your way into the remodeled cooks kitchen with hardwood cabinets, granite counter tops and newer appliances. Upstairs is the master bedroom and spacious master bath with dual sinks and walk-in closet. Three other bedrooms share the middle bathroom. Ceiling fans are in all bedrooms and all upstairs flooring is new. Back downstairs the family room offers a cozy fireplace with mantle. Through the sliding glass door leads you to a huge enclosed patio/entertainment room. You'll feel tropical as you enter the huge backyard bordered with several beautiful palm trees and plants. There's a large outdoor kitchen with abundant counter space, stainless sink, refrigerator, barbecue and a flattop grill. All surrounded by counter seating or serving space. To sum it all up... Kids will love this as a play area, guests will be impressed by your hospitality, and you will live comfortably with your family, friends and future.

SEE MORE

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

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
Ramona Elementary School Primary Regular 788 29 6
Ramona Elementary School Middle Regular 788 29 6
Montclair High School High Regular 3,034 117 6

Ramona Elementary School

  • Education Level: Primary
  • # of students: 788
  • # of teachers: 29
6
GreatSchools Rating

Ramona Elementary School

  • Education Level: Middle
  • # of students: 788
  • # of teachers: 29
6
GreatSchools Rating

Montclair High School

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

$584,910$714,890$649,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$2,257
Property Tax -$596
Property Insurance -$72
Property Management Fees -$140
CASH FLOW
-$695

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.

$649,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.36%

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$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,257

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,362

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,337

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0303$2,3004$2,3705$2,500
$2,500
RENT COMPS ANALYSIS
  • 11139 Essex Avenue Montclair, CA 4
    • 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.27
    •  
  • 1189 S Reservoir Street Pomona, CA 1
    • 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 1989
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.28
    •  
  • 11054 Wesley Avenue Montclair, CA 2
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1981
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.23
    •  
  • 11936 Monte Vista Avenue Chino, CA 3
    • 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1972
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.37
    •  
  • 4638 Kingsley Street Montclair, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Kim Weingarten
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21000820
Last Updated: 01/08/2021
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