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2073 N Albright Avenue Upland, CA 91784

4 Beds 3 Baths 2,257 sqft Built 1978

$788,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $349.14
  • 5 Days on Market
  • MLS # : TR21003907
  • Updated Date : 01/15/2021 at 09:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,257 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker George Realty

Listing Agent's Description

This Super Sharp, two-story home has been beautifully upgraded inside and out! Immaculate condition and move-in ready! Features newer laminate wood flooring, upgraded neutral carpet, plantation shutters, ceilings fans, freshly painted inside and out. Upon entering thru the double doors, you will appreciate the open design, vaulted ceilings and expansive natural light. Elegant formal living room and spacious formal dining room. Upgraded, bright kitchen includes plenty of cabinet space, Corian counter tops, stainless steel appliances with a large breakfast nook area. Adjoining family room boasts a warm brick fireplace w/a mantle and a wet bar. One of the bedrooms and bathrooms are on the main level. All bathrooms have been nicely remodeled. Impressive master suite includes a large walk-in closet, dual vanity sink. Newer roof, newer HVAC system, whole-house fan, 3 car garage. Nicely landscaped with drought tolerant, water-saving front yard. Resort-like backyard features a sparkling pool & spa, large patio with Alumawood patio cover, plenty of room for entertaining, fruit trees, and fabulous mountain views! Close to McCarthy Park and award-winning schools. This home is truly Turnkey!! Check out the virtual tour!

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MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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
Valencia Elementary School Primary Regular 603 23 8
Pioneer Junior High School Middle Regular 928 37 9
Upland High School High Regular 3,456 137 7

Valencia Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 23
8
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
 

$709,200$866,800$788,000

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$2,737
Property Tax -$723
Property Insurance -$82
Property Management Fees -$179
CASH FLOW
-$681

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.

$788,000

PROJECTED PRICE

$3,040

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$214,570

INVESTMENT

$214,570

Down Payment
$197,000
Rehab Estimate
$5,750
Closing Costs
$11,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,000
Loan Amount $591,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,449

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $3,024

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,925
1$2,9252$2,9503$3,0404$3,1505$3,499
$3,499
RENT COMPS ANALYSIS
  • 2073 N Albright Avenue Upland, CA 3
    • 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $1.35
    •  
  • 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
    •  
  • 2196 N Albright Avenue Upland, CA 4
    • 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1975
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.33
    •  
  • 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
Lori Bright
Coldwell Banker George Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21003907
Last Updated: 01/15/2021
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