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2249 Fulton Road La Verne, CA 91750

4 Beds 2 Baths 1,796 sqft Built 1979

$590,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $328.51
  • 5 Days on Market
  • MLS # : 21687754
  • Updated Date : 02/27/2021 at 20:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,796 sqft
  • Baths : 2 full
Listing Agent

Meridian Capital Real Estate

Listing Agent's Description

Probate sale with NO court confirmation required. Amazing opportunity to own this single-level 4 bed/2 bath home that needs some TLC. The home sits on an ample lot (7,700 sq. ft). Backyard has major potential with large pergola and patio. Convenient location to University of La Verne, Claremont Colleges, Metrolink, LA Fairgrounds and major freeways. This property is a part of award winning Bonita Unified School District! Priced to sell fast!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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)
  • 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)
  • 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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lordsburg

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Lordsburg

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14593697

* 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
Roynon Elementary School Primary Regular 743 29 9
Ramona Middle School Middle Regular 1,406 51 9
Bonita High School High Regular 1,968 74 9

Roynon Elementary School

  • Education Level: Primary
  • # of students: 743
  • # of teachers: 29
9
GreatSchools Rating

Ramona Middle School

  • Education Level: Middle
  • # of students: 1,406
  • # of teachers: 51
9
GreatSchools Rating

Bonita High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 74
9
GreatSchools Rating
 

$531,000$649,000$590,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$2,049
Property Tax -$659
Property Insurance -$70
Property Management Fees -$129
CASH FLOW
-$268

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.

$590,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$20,935

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $2,618

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$2,280
1$2,2802$2,5003$2,6404$2,8505$3,000
$3,000
RENT COMPS ANALYSIS
  • 2249 Fulton Road La Verne, CA 3
    • 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $1.47
    •  
  • 725 Bangor Street Pomona, CA 1
    • 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 1990
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.41
    •  
  • 2145 Victoria Way Pomona, CA 2
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1967
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.36
    •  
  • 2317 Bonita Avenue La Verne, CA 4
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1988
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.41
    •  
  • 1424 Turning Bend Drive Claremont, CA 5
    • 4 beds 1 baths ∙ 1,818 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,818 Sqft ∙ Built 1963
    LEASED 02/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.65
    •  
PROPERTY LISTING DETAILS
Andrew Brody
Meridian Capital Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21687754
Last Updated: 02/27/2021
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