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2150 Erin Avenue Upland, CA 91784

5 Beds 2 Baths 2,956 sqft Built 1981

$899,000

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $304.13
  • 8 Days on Market
  • MLS # : CV21052916
  • Updated Date : 03/17/2021 at 05:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,956 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hath Hm Svcs Ca Prop

Listing Agent's Description

Located on a Beautiful North Upland Culd-a-sac this Wonderful Pool and Spa Home has it all. There is a Downstairs Large Bedroom and with Bathroom that can be used as a Mother in Law area or a Game/Bonus Room off the Rear Yard. The Front Yard has a Wonderful Sitting area to enjoy the Mountain Views. Enter the Double Doorway and you will find the Large Living Room and Dining area with the staircase. The Kitchen is Spacious and Open to the Family Room with Fireplace and wet bar area. Tucked away is a Large Bedroom and Bathroom with Step in Shower along with a nice size Laundry Room. Up the Staircase you will find the Master Suite and Fireplace along with Three other Large bedrooms. The Backyard has a Giant Covered Patio and Beautiful Swimming Pool and Spa that is Fully Gated. The Rear Yard is Spacious and Wonderfully Landscaped with Fruit Trees. Seller Has Loved this Home for many years and it shows. Centrally Located to Upland Colonies and other Wonderful Shopping. Easy Access to the 210 Freeway and all Major Freeways. Make this Home Yours Today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Pioneer Junior High School Middle Regular 928 37 9
Upland High School High Regular 3,456 137 7

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
 

$809,100$988,900$899,000

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$3,123
Property Tax -$825
Property Insurance -$99
Property Management Fees -$206
CASH FLOW
-$762

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.

$899,000

PROJECTED PRICE

$3,490

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$7,878

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,490

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $3,015

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,8503$3,2004$3,490
$3,490
RENT COMPS ANALYSIS
  • 2150 Erin Avenue Upland, CA 4
    • 5 beds 2 baths ∙ 2,956 Sqft ∙ Built 1981 5 beds 2 baths ∙ 2,956 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $3,490
    • $1.18
    •  
  • 1441 N Pinebrook Avenue Upland, CA 1
    • 4 beds 3 baths ∙ 2,751 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,751 Sqft ∙ Built 1987
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.98
    •  
  • 2237 Oleander Avenue Upland, CA 2
    • 4 beds 2 baths ∙ 2,898 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,898 Sqft ∙ Built 1986
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.98
    •  
  • 1230 Oleander Street Upland, CA 3
    • 4 beds 3 baths ∙ 2,918 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,918 Sqft ∙ Built 1986
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.10
    •  
PROPERTY LISTING DETAILS
Cheri Verlingo
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 #: CV21052916
Last Updated: 03/17/2021
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