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2359 N 4th Avenue Upland, CA 91784

4 Beds 2 Baths 2,215 sqft Built 1972

$830,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $374.72
  • 4 Days on Market
  • MLS # : IV20229337
  • Updated Date : 11/05/2020 at 21:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,215 sqft
  • Baths : 2 full
Listing Agent

Legacy Real Estate

Listing Agent's Description

Enter the private courtyard and, double door entry of your beautiful, single-story North Upland home. Step into the formal living room which features a gas fireplace, custom built-in wet bar with a wine fridge and granite countertop. The family room has custom wood built-in. Kitchen features granite counter tops, oversized island with ample storage space, prep sink and dual trash pull out, double convention ovens, 6 burner gas cooktop with a pot filler, custom pillars next to cooktop that pulls out for your spices, built in refrigerator, ample counter space, all stainless steel appliances and, walk-in pantry. The fully remodeled guest bathroom is a head turner. Enter your Master Suite which features a ceiling fan, over-sized mirrored sliding closet doors, and large sliding glass door to the backyard. Master bathroom which features dual sinks with quartz countertops, a separate vanity area to get ready, sunken Roman tub which overlooks a private Atrium. The secondary guest bedrooms feature ceiling fans, and spacious closets. The backyard is an entertainer’s paradise with ample seating! Sit under the AlumaWood patio or around the built-in fire pit with gorgeous views of the low maintenance landscape and a variety of fruit trees. Head over to the heated pool and spa area with plenty of room for lounging. This home features a 3-car garage, security blinds on all windows, Mountain views, close to schools, parks, shopping, and trails. This incredible home is a must see!

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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: 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
Magnolia Elementary School Primary Regular 612 26 7
Pioneer Junior High School Middle Regular 928 37 9
Upland High School High Regular 3,456 137 7

Magnolia Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 26
7
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
 

$747,000$913,000$830,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$3,062
Property Tax -$761
Property Insurance -$81
Property Management Fees -$174
CASH FLOW
-$1,129

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.

$830,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.36%

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

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$225,700

INVESTMENT

$225,700

Down Payment
$207,500
Rehab Estimate
$5,750
Closing Costs
$12,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,500
Loan Amount $622,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$459

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,940

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,9503$2,9504$3,1505$3,499
$3,499
RENT COMPS ANALYSIS
  • 2359 N 4th Avenue Upland, CA 3
    • 4 beds 2 baths ∙ 2,215 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,215 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.33
    •  
  • 2465 Highland Road Upland, CA 1
    • 3 beds 2 baths ∙ 2,101 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,101 Sqft ∙ Built 1977
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.24
    •  
  • 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
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.34
    •  
  • 2196 N Albright Avenue Upland, CA 4
    • 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
    •  
  • 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
Ashley Pocino
Legacy Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20229337
Last Updated: 11/05/2020
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