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1814 N Kelly Avenue Upland, CA 91784

4 Beds 2 Baths 2,407 sqft Built 1977

$748,000

List Price

$3,220

$3K - $3.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $310.76
  • 26 Days on Market
  • MLS # : CV20263532
  • Updated Date : 01/23/2021 at 09:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,407 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Looking for a single story in a wonderful North Upland neighborhood? Look no more! This spacious home features 2,407 sq ft with 4 bedroom, 2 bath and a bonus room which can be used for an office or home gym. Open floor plan with custom finishes. Has a custom entrance gate for privacy. Welcoming a spacious formal living room with extra high beam ceilings and adjacent formal dining room. . Kitchen opens to a large family room for entertaining and family gatherings. There are two fireplaces - living room and family room. Huge back yard has space for a pool or basketball court. Has parking space for RV/boat inside side gate. Excellent location on a quiet tree-lined street, walking distance to Peppertree Elementary. Close to shopping and Freeway.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Pepper Tree Elementary School Primary Regular 784 30 9
Pepper Tree Elementary School Middle Regular 784 30 9
Upland High School High Regular 3,456 137 7

Pepper Tree Elementary School

  • Education Level: Primary
  • # of students: 784
  • # of teachers: 30
9
GreatSchools Rating

Pepper Tree Elementary School

  • Education Level: Middle
  • # of students: 784
  • # of teachers: 30
9
GreatSchools Rating

Upland High School

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

$673,200$822,800$748,000

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$2,598
Property Tax -$698
Property Insurance -$85
Property Management Fees -$190
CASH FLOW
-$352

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.

$748,000

PROJECTED PRICE

$3,220

PROJECTED RENT

0.43%

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$25k

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$203,970

INVESTMENT

$203,970

Down Payment
$187,000
Rehab Estimate
$5,750
Closing Costs
$11,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,000
Loan Amount $561,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$20,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,220

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $3,231

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,925
1$2,9252$2,9503$3,2204$3,3955$3,499
$3,499
RENT COMPS ANALYSIS
  • 1814 N Kelly Avenue Upland, CA 3
    • 4 beds 2 baths ∙ 2,407 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,407 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $3,220
    • $1.34
    •  
  • 1845 Mulberry Way Upland, CA 1
    • 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
    •  
  • 904 W 20th Street W Upland, CA 2
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1981
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.34
    •  
  • 1227 Jacaranda Place Upland, CA 4
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1989
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.34
    •  
  • 929 Darlene Court Upland, CA 5
    • 4 beds 3 baths ∙ 2,499 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,499 Sqft ∙ Built 1978
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,499
    • $1.40
    •  
PROPERTY LISTING DETAILS
Deborah Kim
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20263532
Last Updated: 01/23/2021
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