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2350 Paloma Upland, CA 91784

4 Beds 4 Baths 2,548 sqft Built 1987

$825,000

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $323.78
  • 5 Days on Market
  • MLS # : CV20232551
  • Updated Date : 11/05/2020 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,548 sqft
  • Baths : 4 full
Listing Agent

Century 21 Peak

Listing Agent's Description

THIS STUNNING ONE OF A KIND, CUSTOM TWO STORY TRI-LEVEL HOME, FEATURES 4BDRM-4BTHS TOTALING 2548 SQ. FT. OF USABLE SPACE! AMAZING MOUNTAIN VIEWS! 1ST LEVEL: INCLUDES A LIVING ROOM W/ FIREPLACE, KITCHENETTE AND A MASTER-BEDROOM W/1BTH. 2ND LEVEL: REMODELED AND DESIGNED WITH AN OPEN FLOOR-PLAN CONCEPT. GORGEOUS KITCHEN UPGRADED W/QUARTZ COUNTER, BEAUTIFUL CABINETS AND ENGINEERED WOOD FLOORING! PLUS A DINNING AND FAMILY ROOM THAT OPENS OUT TO A LARGE COVERED BALCONY, WHERE YOU'LL ENJOY ENTERTAINING WHILE OVERLOOKING THE STUNNING VIEW! GREAT SIZE BACKYARD W/ MATURED FRUIT TREES RANGING FROM GRAPEFRUIT, ORANGE, POMEGRANATE, LEMON AND MORE! MASSIVE RV/BOAT PARKING, 3 CAR GARAGE, AND STORAGE ROOM!! MAKE THIS YOUR DREAM HOME!

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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: San Antonio Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $149k880k

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

Neighborhood: San Antonio Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400260028003000Rent in $10823073

* 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
 

$742,500$907,500$825,000

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$3,044
Property Tax -$764
Property Insurance -$89
Property Management Fees -$188
CASH FLOW
-$904

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.

$825,000

PROJECTED PRICE

$3,180

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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

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$224,375

INVESTMENT

$224,375

Down Payment
$206,250
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,044

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $206,250
Loan Amount $618,750
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$3,401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $3,446

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,1503$3,1804$3,3955$3,499
$3,499
RENT COMPS ANALYSIS
  • 2350 Paloma Upland, CA 3
    • 4 beds 4 baths ∙ 2,548 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,548 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $1.25
    •  
  • 904 W 20th Street W Upland, CA 1
    • 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 2
    • 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, CA 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, 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
Sharon Kobold
Century 21 Peak
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20232551
Last Updated: 11/05/2020
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