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1473 N Tulare Way Upland, CA 91786

4 Beds 2 Baths 1,400 sqft Built 1963

$619,900

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $442.79
  • 2 Days on Market
  • MLS # : PW21019348
  • Updated Date : 02/06/2021 at 13:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Home Svc.

Listing Agent's Description

This newly updated North Upland single story 4BR/2BA pool home is located on a hard to find, large 1/4 acre lot w/secured RV parking. You will be mesmerized by the beautiful back drop of Mt. Baldy as you approach this well-manicured home. It has been completely updated w/new SPC wood flooring, interior paint, crown moldings, remodeled Kitchen featuring newer cabinets, stone counters & stainless steel appliances. The open & inviting LR has a cozy FPL w/a built-in entertainment center wired for sound. Bathrooms have also been updated with new fixtures & vanities. Grounds are manicured w/a gorgeous sparkling pool/spa & removable mesh safety fence, sun decks, 400 SF Alumawood covered patio (and covered south-side patio), pool-side seating areas w/gas fire pit, a sizable greenhouses, above-ground garden boxes, and orange tree! This over-sized lot offers endless potential for an add-on or expansion, has plenty of on-site parking w/2-car direct access garage & huge driveway. The secured RV parking area has room for an RV & several recreational toys/cars! This property is only a 1/4 block south of Magnolia Elementary (one of the highest ranked elementary schools in Upland Unified) and Magnolia Park. It is also in close proximity to highly-rated Pioneer Jr. High & Upland High, shopping, restaurants, mountain & bike trails! This family home is move-in ready, provides endless entertaining possibilities, & enough space for each member of the family to pursue their interests & hobbies!

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: 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
 

$557,910$681,890$619,900

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$2,153
Property Tax -$579
Property Insurance -$61
Property Management Fees -$133
CASH FLOW
-$666

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.

$619,900

PROJECTED PRICE

$2,260

PROJECTED RENT

0.36%

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$170,024

INVESTMENT

$170,024

Down Payment
$154,975
Rehab Estimate
$5,750
Closing Costs
$9,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $154,975
Loan Amount $464,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.61

    LIST RENT PER SQFT
  • $2,230

    COMP ESTIMATED VALUE
  • $1.59

    COMP AVG. RENT PER SQFT
Comps Range
$2,260
1$2,2602$2,5503$2,5504$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 1473 N Tulare Way Upland, CA 1
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.61
    •  
  • 768 Pebble Beach Drive Upland, CA 2
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1982
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.62
    •  
  • 876 W Emory Court Upland, CA 3
    • 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 4
    • 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
    •  
  • 880 Emily Court Upland, CA 5
    • 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1975
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.61
    •  
PROPERTY LISTING DETAILS
James Cameron
Berkshire Hathaway Home Svc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21019348
Last Updated: 02/06/2021
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