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4250 Flora Street Montclair, CA 91763

3 Beds 2 Baths 1,350 sqft Built 1963

$498,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $368.89
  • 10 Days on Market
  • MLS # : CV21004861
  • Updated Date : 01/13/2021 at 10:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,350 sqft
  • Baths : 2 full
Listing Agent

Cal American Homes And Realty

Listing Agent's Description

This can be your next Dream House. It’s the ideal floorplan for entertaining. Large outdoor patio area, perfect for winter and summer months. This outdoor space becomes where you live and hang out and watch your favorite TV shows. Open floorplan, newer appliances, windows, both bathrooms have been remodeled, and newer AC condenser. It shows like a model but with love and care at first sight. Nicely landscaped with outdoor fountains, in ground pool, and electric gates for privacy. Please contact us to set an appointment to see it.

SEE MORE

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: Montclair

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k497k

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

Neighborhood: Montclair

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900200021002200Rent in $9112210

* 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
Lehigh Elementary School Primary Regular 773 32 5
Serrano Middle School Middle Regular 769 39 7
Montclair High School High Regular 3,034 117 6

Lehigh Elementary School

  • Education Level: Primary
  • # of students: 773
  • # of teachers: 32
5
GreatSchools Rating

Serrano Middle School

  • Education Level: Middle
  • # of students: 769
  • # of teachers: 39
7
GreatSchools Rating

Montclair High School

  • Education Level: High
  • # of students: 3,034
  • # of teachers: 117
6
GreatSchools Rating
 

$448,200$547,800$498,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,730
Property Tax -$457
Property Insurance -$60
Property Management Fees -$127
CASH FLOW
-$224

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.

$498,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,720

INVESTMENT

$137,720

Down Payment
$124,500
Rehab Estimate
$5,750
Closing Costs
$7,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,500
Loan Amount $373,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $2,153

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1503$2,3004$2,4005$2,495
$2,495
RENT COMPS ANALYSIS
  • 4250 Flora Street Montclair, CA 2
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.59
    •  
  • 4391 Harvard Montclair, CA 1
    • 4 beds 2 baths ∙ 1,325 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,325 Sqft ∙ Built 1954
    property image
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.62
    •  
  • 1926 Bonnie Brae Street Pomona, CA 3
    • 3 beds 1 baths ∙ 1,462 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,462 Sqft ∙ Built 1953
    property image
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.57
    •  
  • 4971 Granada Street Montclair, CA 4
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1961
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.63
    •  
  • 1114 Ringe Court Pomona, CA 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1963
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.56
    •  
PROPERTY LISTING DETAILS
Charlene Costantino
Cal American Homes And Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21004861
Last Updated: 01/13/2021
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