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409 Emerson Street Upland, CA 91784

5 Beds 3 Baths 2,776 sqft Built 1969

$929,000

List Price

$3,240

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $334.65
  • 17 Days on Market
  • MLS # : CV21046561
  • Updated Date : 03/19/2021 at 09:26
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,776 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

LOCATION!! LOCATION!! LOCATION!! ONE OF NORTH UPLANDS MOST DESIRABLE STREETS!! SITUATED ON A 20,000 SQUARE FOOT LOT WITH A SEPATATE BACK LOT GATE ENTRANCE FOR RV, BOAT OR TRAILER PARKING. 1 BEDROOM WITH AN ATTACHED BATHROOM IS DOWNSTAIRS. TILE ROOF WAS PUT ON IN 1989 (CEILING STAINS IN UPSTAIRS BEDROOM ARE FROM THE OLD ROOF A/C UNIT ON THE ROOF DUE TO METAL SIDING WAS MISSING AND WAS REPIARED) NEWER A/C WAS REPLACED APPROXIMATELY 10 YEARS AGE AND IS NOW ON THE SIDE OF THE HOME.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Pioneer Junior High School Middle Regular 928 37 9
Upland High School High Regular 3,456 137 7

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
 

$836,100$1,021,900$929,000

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,240
EXPENSES Loan Payment -$3,227
Property Tax -$852
Property Insurance -$94
Property Management Fees -$191
CASH FLOW
-$1,124

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.

$929,000

PROJECTED PRICE

$3,240

PROJECTED RENT

0.35%

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$2.5M

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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$251,935

INVESTMENT

$251,935

Down Payment
$232,250
Rehab Estimate
$5,750
Closing Costs
$13,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,227

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $232,250
Loan Amount $696,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$808

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,240

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,887

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,2003$3,240
$3,240
RENT COMPS ANALYSIS
  • 409 Emerson Street Upland, CA 3
    • 5 beds 3 baths ∙ 2,776 Sqft ∙ Built 1969 5 beds 3 baths ∙ 2,776 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $3,240
    • $1.17
    •  
  • 2237 Oleander Avenue Upland, CA 1
    • 4 beds 2 baths ∙ 2,898 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,898 Sqft ∙ Built 1986
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.98
    •  
  • 1230 Oleander Street Upland, CA 2
    • 4 beds 3 baths ∙ 2,918 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,918 Sqft ∙ Built 1986
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.10
    •  
PROPERTY LISTING DETAILS
Alan Ontiveros
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21046561
Last Updated: 03/19/2021
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