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1468 Springfield Way Upland, CA 91786

3 Beds 3 Baths 1,504 sqft Built 2007

$462,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $307.18
  • 5 Days on Market
  • MLS # : CV21003178
  • Updated Date : 01/07/2021 at 20:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,504 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Welcome, to this lovely light-filled well maintained 3 bedroom home. You will be delighted as you take a stroll down the shaded path to the cozy front patio. Upon entering the home you will be greeted with a warm open space with much to admire. The home offers custom paint through-out, recessed lighting, ceiling fans in all rooms, both wood-like floors and tile floors. The kitchen is well-appointed with ample counter space, granite countertops, upgraded cabinetry, and a walk-in pantry. The spacious master suite offers an additional sitting area"work from home" and a walk-in closet. Upgraded cabinets, dual sinks, walk-in shower, and a separate soaking tub in the master bath to relax in after a long day. The home's low association also covers, water, trash, a heated pool, bbq area, and the exterior maintenence of the community. The association is currently being painted to maintain the beauty of Foothill Walk.

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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

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
Sycamore Elementary School Primary Regular 452 18 7
Pioneer Junior High School Middle Regular 928 37 9
Upland High School High Regular 3,456 137 7

Sycamore Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 18
7
GreatSchools Rating

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
 

$415,800$508,200$462,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,605
Property Tax -$425
Property Insurance -$64
HOA -$332
Property Management Fees -$124
CASH FLOW
-$449

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.

$462,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.45%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,180

INVESTMENT

$128,180

Down Payment
$115,500
Rehab Estimate
$5,750
Closing Costs
$6,930

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,500
Loan Amount $346,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,091

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,3004$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 1468 Springfield Way Upland, CA 1
    • 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.40
    •  
  • 1526 Milan Ct Upland, CA 2
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 2011
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.35
    •  
  • 410 E Arrow Upland, CA 3
    • 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2006
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.38
    •  
  • 1508 Springfield Way Upland, CA 4
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2011
    property image
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.39
    •  
  • 1077 Venice Way Upland, CA 5
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2007
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.44
    •  
PROPERTY LISTING DETAILS
Rosanne Maniscalchi
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21003178
Last Updated: 01/07/2021
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