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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Upland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$214,570
LOAN DETAILS
$2,737
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $197,000 |
| Loan Amount | $591,000 |
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
-
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
Coldwell Banker George Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR21003907
Last Updated: 01/15/2021
