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2288 Coolcrest Avenue Upland, CA 91784

4 Beds 3 Baths 2,322 sqft Built 1978

INVESTimate

$780,000

List Price

$2,970

$2,720 - $3,220

Rent Est.

$827,346  ( +6.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $335.92
  • 3 Days on Market
  • MLS # : CV20173167
  • Updated Date : 08/24/2020 at 20:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,322 sqft
  • Baths : 3 full
Listing Agent

Lone Hill Properties

Listing Agent's Description

This Beautiful 2 Story Home shows true pride of ownership. Located in prestige North Upland, this home boast a spacious interior and has many upgrades. Bright and open floor plan with an open kitchen, spacious living room, and family room. This beautiful home includes 4 Bedroom 3 Bathroom, Spacious master bedroom, and a bonus room that could be used as an entertainment area or converted to an office/bedroom. Entertaining will be a breeze with the spacious backyard and beautiful pool area.

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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
 

$702,000$858,000$780,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$2,878
Property Tax -$716
Property Insurance -$83
Property Management Fees -$175
CASH FLOW
-$882

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.

$780,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.07%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,593

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $3,117

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9703$3,1504$3,3955$3,499
$3,499
RENT COMPS ANALYSIS
  • 2288 Coolcrest Avenue Upland, 2
    • 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $1.28
    •  
  • 904 W 20th Upland, 1
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1981
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.30
    •  
  • 2196 N Albright Avenue Upland, 3
    • 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
    •  
  • 1227 Jacaranda Place Upland, 4
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1989
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.34
    •  
  • 929 Darlene Court Upland, 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
Marisol Araya
Lone Hill Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20173167
Last Updated: 08/24/2020
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