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1289 W 15th Street Upland, CA 91786

4 Beds 2 Baths 1,430 sqft Built 1963

$565,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $395.10
  • 4 Days on Market
  • MLS # : IV21033023
  • Updated Date : 02/18/2021 at 15:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,430 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Looking for a pool home? This is it. Come check out this single story 4 bedroom home. Walking distance to Greenbelt park. Want to be close to the freeway? The 210 FWY is only 1.4 miles away for your daily commute. The possibilities are endless come take a look.

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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: 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
Pioneer Junior High School Middle Regular 928 37 9
Upland High School High Regular 3,456 137 7

Pioneer Junior High School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 37
9
GreatSchools Rating

Upland High School

  • Education Level: High
  • # of students: 3,456
  • # of teachers: 137
7
GreatSchools Rating
 

$508,500$621,500$565,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,962
Property Tax -$527
Property Insurance -$62
Property Management Fees -$132
CASH FLOW
-$453

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.

$565,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.39%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $2,199

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,230
1$2,2302$2,4503$2,5004$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 1289 W 15th Street Upland, CA 1
    • 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.56
    •  
  • 1408 W 14th Street Upland, CA 2
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1978
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.47
    •  
  • 1634 Glenwood Avenue Upland, CA 3
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1978
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.54
    •  
  • 876 W Emory Court Upland, CA 4
    • 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1962
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.61
    •  
  • 1354 N Erin Avenue Upland, CA 5
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1977
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.53
    •  
PROPERTY LISTING DETAILS
Joann Silva
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21033023
Last Updated: 02/18/2021
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