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1816 N 2nd Avenue Upland, CA 91784

3 Beds 2 Baths 1,747 sqft Built 1962

$550,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1962
  • Price/Sqft : $314.83
  • 17 Days on Market
  • MLS # : WS20220055
  • Updated Date : 11/01/2020 at 05:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,747 sqft
  • Baths : 2 full
Listing Agent

Re/max Elite Realty

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
Sierra Vista Elementary School Primary Regular 438 17 6
Pioneer Junior High School Middle Regular 928 37 9
Upland High School High Regular 3,456 137 7

Sierra Vista Elementary School

  • Education Level: Primary
  • # of students: 438
  • # of teachers: 17
6
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
 

$495,000$605,000$550,000

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 -$2,029
Property Tax -$513
Property Insurance -$70
Property Management Fees -$133
CASH FLOW
-$485

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.

$550,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,206

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
  • $1.29

    LIST RENT PER SQFT
  • $2,494

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$2,260
1$2,2602$2,4003$2,7004$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 1816 N 2nd Avenue Upland, CA 1
    • 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.29
    •  
  • 1646 Carmel Circle E Upland, CA 2
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1974
    property image
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.44
    •  
  • 951 Saint Andrews Drive Upland, CA 3
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1982
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.35
    •  
  • 1275 N 1st Avenue Upland, CA 4
    • 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 1960
    property image
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.40
    •  
  • 1679 N 2nd Avenue Upland, CA 5
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1962
    property image
    LEASED 05/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.52
    •  
PROPERTY LISTING DETAILS
Mario Lopez
Re/max Elite Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20220055
Last Updated: 11/01/2020
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