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1271 Loma Sola Avenue Upland, CA 91786

3 Beds 1 Baths 1,640 sqft Built 1960

$599,999

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $365.85
  • 4 Days on Market
  • MLS # : IV20253745
  • Updated Date : 12/10/2020 at 17:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,640 sqft
  • Baths : 1 full
Listing Agent

Premiere Homes

Listing Agent's Description

Single family home located on the most desirable street in Uplands Foothill Knolls area. Surrounded by a mix of custom and tract homes (homes on east side of street open onto RedHill Country Club golf course) sits this 3 bedroom 2 bath one story beauty nestled perfectly amongst the tree canopied street. This home sits on a slight upslope from street, 1640 square feet arranged in an L-shape with a large dual entrance circular driveway (just under 10,000 sq.ft lot size). Enter via the covered porch (with hanging swing, for enjoying the peaceful neighborhood) and notice the newer dual-pane vinyl windows and upgraded front door. Upon entering you'll notice all brand new carpet/paint/blinds/ceiling fans everywhere. Updated kitchen (matching stainless steel refrigerator included) and bathrooms, huge living room with 3-sided fireplace w/ extra large hearth done in classic used red brick, large formal dining room, SUPER LARGE bedrooms, french doors leading to covered patio + freshly landscaped backyard, and an attached 2 car garage with auto opener. Laundry conveniently located in garage, plus newer washer & dryer included.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Upland

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k642k

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

Neighborhood: Upland

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400Rent in $10822575

* 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
Valle Vista Elementary School Primary Regular 508 19 6
Cucamonga Middle School Middle Regular 816 35 7
Alta Loma High School High Regular 2,648 100 8

Valle Vista Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 19
6
GreatSchools Rating

Cucamonga Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 35
7
GreatSchools Rating

Alta Loma High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 100
8
GreatSchools Rating
 

$539,999$659,999$599,999

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$2,214
Property Tax -$561
Property Insurance -$67
Property Management Fees -$136
CASH FLOW
-$677

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.

$599,999

PROJECTED PRICE

$2,300

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,325

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,3004$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 1271 Loma Sola Avenue Upland, CA 3
    • 3 beds 1 baths ∙ 1,640 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,640 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.40
    •  
  • 1505 Redhill North Drive Upland, CA 1
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 1979
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.33
    •  
  • 8269 Red Hill Country Club Drive Rancho Cucamonga, CA 2
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1959
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.30
    •  
  • 1292 Armando Street Upland, CA 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1978
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.54
    •  
  • 8352 Camino Sur Rancho Cucamonga, CA 5
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1952
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.50
    •  
PROPERTY LISTING DETAILS
Steve Malone
Premiere Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20253745
Last Updated: 12/10/2020
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