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1636 N Palm Avenue Upland, CA 91784

3 Beds 3 Baths 2,460 sqft Built 1961

$789,000

List Price

$3,090

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $320.73
  • 8 Days on Market
  • MLS # : CV21020071
  • Updated Date : 02/08/2021 at 07:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,460 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Peak

Listing Agent's Description

LOCATION IS PRIME!! 3 BDRM, 2.5 BATHS PLUS AN OFFICE NICELY FITTED ON A HALF AN ACRE LOT!! WHETHER YOU'RE AN INVESTOR OR A BUYER LOOKING FOR A FIXER-UPPER, LOOK NO MORE, HERE IT IS! SOLD AS IS, GIVES BUYERS REASONS TO DREAM ENDLESSLY; IT OFFERS OPPORTUNITIES AT ANY AMOUNT OF COST, HIGH OR LOW, GIVING INVESTORS AND OR BUYERS THE CONTROL TO DESIGN IN UPGRADES, THAT FITS ANYONES RENOVATING BUDGET. WHATEVER VISIONS YOU SEE FIT FOR THIS HOME, TO KEEP OR TURN...ITS IDEAL FOR ALL! BENEFITS: OPEN FLOOR PLAN CONCEPT, NIZE SIZE BEDROOMS, GOOD SIZE BATHROOMS, WALK IN CLOSETS, LARGE BACK YARD W/ LUSH LANDSCAPING, GREAT SIZE POOL W/JACUZZI, COVERED PATIO, BUILT IN BBQ, RV PARKING, 2 CAR GARAGE, ROOF IS APPROX. 15YRS, NEWER CENTRAL AIR, NEWER COPPER PLUMBING, OUTDOOR SHED FOR EXTRA STORAGE OR FOR MANY OTHER USES, NICE WELCOMING FRONT APPEAL W/ GREAT CIRCULAR DRIVEWAY W/ NEWLY LAID CONCRETE! MAKE THIS HOUSE INTO YOUR WAY OF LIVING, IT'S A HOUSE THAT NEEDS TLC AND MAKE IT YOURS!

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
 

$710,100$867,900$789,000

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$2,740
Property Tax -$736
Property Insurance -$87
Property Management Fees -$182
CASH FLOW
-$656

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.

$789,000

PROJECTED PRICE

$3,090

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$214,835

INVESTMENT

$214,835

Down Payment
$197,250
Rehab Estimate
$5,750
Closing Costs
$11,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,740

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,250
Loan Amount $591,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,090

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $3,137

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9253$3,0904$3,1505$3,200
$3,200
RENT COMPS ANALYSIS
  • 1636 N Palm Avenue Upland, CA 3
    • 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 1961 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $3,090
    • $1.26
    •  
  • 1216 N Vallejo Way Upland, CA 1
    • 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1959
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.25
    •  
  • 1845 Mulberry Way Upland, CA 2
    • 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 1975
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,925
    • $1.29
    •  
  • 1376 N Euclid Avenue Upland, CA 4
    • 4 beds 2 baths ∙ 2,338 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,338 Sqft ∙ Built 1974
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.35
    •  
  • 1758 N Kelly Avenue Upland, CA 5
    • 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1977
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.21
    •  
PROPERTY LISTING DETAILS
Sharon Kobold
Century 21 Peak
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21020071
Last Updated: 02/08/2021
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