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1428 Primrose Street Upland, CA 91786

3 Beds 2 Baths 1,456 sqft Built 1964

$499,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $342.72
  • 4 Days on Market
  • MLS # : TR21017700
  • Updated Date : 01/28/2021 at 18:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Great Opportunity for a Pool Home in South Upland. Nearby stores and the 10 freeway for easy access to everywhere you need to be. This home is in a great neighborhood with friendly neighbors. Home has great curb appeal with its white picket fence and groomed front yard. The backyard is perfect for entertaining around the pool. Cement patio provides plenty of room for tables and chairs for the relaxing summer days by the pool. A large patio cover for retreating away from the sun and dining outside near the pool. The front of the home is North facing so keeps the front rooms very cool. The Pool Area is South facing and receives lots of sun exposure. 3 bedrooms and 2 bath. Extra room can be used as game room or converted to an additional bedroom. Great home for someone looking to update the kitchen and bathroom to their liking. Home has been re-piped with copper plumbing lines. Central heating and air. 2 Car garage with paved alley access. Home is being sold in AS-IS condition. Upland Unified School District. Why rent when you can own in an affordable home in a great neighborhood.

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MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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
Upland Junior High School Middle Regular 877 38 3
Upland High School High Regular 3,456 137 7

Upland Junior High School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 38
3
GreatSchools Rating

Upland High School

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

$449,100$548,900$499,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,733
Property Tax -$482
Property Insurance -$62
Property Management Fees -$124
CASH FLOW
-$292

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.

$499,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$9,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $2,126

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1103$2,1504$2,3005$2,600
$2,600
RENT COMPS ANALYSIS
  • 1428 Primrose Street Upland, CA 2
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.45
    •  
  • 484 Corte Verde Upland, CA 1
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1982
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.52
    •  
  • 1540 Corte Hacienda Upland, CA 3
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1982
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.30
    •  
  • 1347 Deodar Ontario, CA 4
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.49
    •  
  • 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
Edward Limbaga
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21017700
Last Updated: 01/28/2021
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