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PROPERTY INFO
FACTS
- Single Family
- Built In 1947
- Price/Sqft : $401.11
- 6 Days on Market
- MLS # : CV21007056
- Updated Date : 01/12/2021 at 13:56
CONSTRUCTION
- Beds : 3
- Floor Size : 1,259 sqft
- Baths : 1 full
Listing Agent
Homesmart, Evergreen Realty
Listing Agent's Description
Fantastic corner lot home on HUGE lot!!! Looking for a lot for all of your toys? This is it! Check out this amazing, flat, lot with 2 car garage and oversized driveway. The lot is sure to impress, although step inside this turn key home and you are sure to be amazed with the interior! Newer paint, brand new water resistant vinyl plank flooring throughout, wainscoting, HUGE bedrooms, walk in closets and home is light and bright throughout. You will love the vintage charm of the kitchen, which has all new knobs and pulls, lazy susan and all new LED recessed lighting. Laundry room inside with a water heater that is due to be changed to a tankless (1/15/2021) for instant hot water. Family room has a large picture window that looks out to the front on the home and is very spacious for furniture arrangement. This home also offers a huge covered patio area for entertaining and a basement. This home is sure to sell quickly, so see it today!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Upland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,180 |
| EXPENSES | Loan Payment | -$1,754 |
| Property Tax | -$496 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$256
|
||
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.
$505,000
PROJECTED PRICE
$2,180
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$139,575
LOAN DETAILS
$1,754
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $126,250 |
| Loan Amount | $378,750 |
3.08
YEARS SAVED
$12,422
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,180
LIST RENT -
$1.73
LIST RENT PER SQFT
-
$1,873
COMP ESTIMATED VALUE -
$1.49
COMP AVG. RENT PER SQFT
Comps Range
-
361 S Campus Avenue Upland, CA 3
- 3 beds 1 baths ∙ 1,259 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,259 Sqft ∙ Built 1947
- Rent
- Rent Per SQFT
- $2,180
- $1.73
-
839 W El Morado Court Ontario, CA 1
- 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952
LEASED 04/07/20- Rent
- Rent Per SQFT
- $1,920
- $1.54
-
798 E 7th Street Upland, CA 2
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1950
LEASED 03/31/20- Rent
- Rent Per SQFT
- $2,000
- $1.48
-
797 Olive Street E Upland, CA 4
- 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1943
LEASED 11/01/19- Rent
- Rent Per SQFT
- $2,300
- $1.44
-
1347 Deodar Ontario, CA 5
- 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956
LEASED 07/13/20- Rent
- Rent Per SQFT
- $2,300
- $1.49
PROPERTY LISTING DETAILS
Homesmart, Evergreen Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21007056
Last Updated: 01/12/2021
