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2131 N Albright Avenue Upland, CA 91784

4 Beds 2 Baths 2,203 sqft Built 1973

$749,000

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $339.99
  • 2 Days on Market
  • MLS # : CV20226099
  • Updated Date : 11/02/2020 at 09:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,203 sqft
  • Baths : 1 full , 1 half
Listing Agent

Berkshire Hath Hm Svcs Ca Prop

Listing Agent's Description

Welcome to your new home in Upland. This turn key 2 story home has 4 bedrooms, 3 bathrooms, 2203 sq. ft of living space, which sits on a 10,092 SF lot w/ many upgrades throughout. The home's interior and exterior were just painted! As you walk into the home you will be greeted with high ceilings, crown moulding, and large windows for lots of natural light. Just last year, the Homeowners got a new roof, installed a new beveled glass and iron double front doors and added pavers to the driveway. You will love the kitchen, which is large and bright with granite counter tops, hard wood cabinets, and a pantry with pull out shelving, double stainless steel oven, stainless steel sink, dishwasher, trash compactor, recessed lighting, large window overlooking the beautiful backyard & pool, electric cooktop, and stunning Italian tile gracing the floors throughout most of the home. Cozy up in your new family room with the gas fireplace & slider leading to the backyard patio & pool. This home also has a formal dining and formal living room with hard wood flooring for entertaining your guests on those special occasions. The backyard is a lovely oasis with a pool and spa, mature landscaping, covered patio, view of the mountains, hardscape and a nice grassy area for the kids to play. The home features dual pane windows, a wide paver driveway, 3 car attached garage, RV parking, brick walkway and a seating area near the front door. Easy access to 210 Fwy, shopping, great schools & so much more!

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
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
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$2,763
Property Tax -$687
Property Insurance -$81
Property Management Fees -$168
CASH FLOW
-$859

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.

$749,000

PROJECTED PRICE

$2,840

PROJECTED RENT

0.38%

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$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,763

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,281

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $2,980

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$2,840
1$2,8402$2,9503$3,1504$3,3955$3,499
$3,499
RENT COMPS ANALYSIS
  • 2131 N Albright Avenue Upland, CA 1
    • 4 beds 2 baths ∙ 2,203 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,203 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $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
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.34
    •  
  • 2196 N Albright Avenue Upland, CA 3
    • 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1975
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.33
    •  
  • 1227 Jacaranda Place Upland, CA 4
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1989
    property image
    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
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,499
    • $1.40
    •  
PROPERTY LISTING DETAILS
Antoinette Gower
Berkshire Hath Hm Svcs Ca Prop
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20226099
Last Updated: 11/02/2020
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