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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $411.85
- 8 Days on Market
- MLS # : OC21128648
- Updated Date : 07/06/2021 at 09:17
CONSTRUCTION
- Beds : 3
- Floor Size : 1,452 sqft
- Baths : 2 full
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
The cul-de-sac location you have been looking for! Small cul-de-sac with only 7 homes and a large pie shaped lot (7800 SF), private yard. This is a short distance to schools, shopping and freeways for a very convenient location. This upgraded home has a large living room with fireplace, large eat-in kitchen and spacious bedrooms. The bathrooms have been tastefully upgraded for your "not to do list". There is LED recessed lighting in the house and the home has been very well cared for with low maintenance throughout. As you can tell by the pictures, when you open the slider to the back yard, you have block wall fencing, lots of open space for pets or entertaining. This is a great house and one you can be happy with for years to come!
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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: Montclair
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Montclair
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,170 |
| EXPENSES | Loan Payment | -$2,077 |
| Property Tax | -$549 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$128 | |
|
CASH FLOW
-$647
|
||
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.
$598,000
PROJECTED PRICE
$2,170
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$164,220
LOAN DETAILS
$2,077
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $149,500 |
| Loan Amount | $448,500 |
0.58
YEARS SAVED
$1,140
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,170
LIST RENT -
$1.49
LIST RENT PER SQFT
-
$2,185
COMP ESTIMATED VALUE -
$1.51
COMP AVG. RENT PER SQFT
Comps Range
-
4524 Evart Street Montclair, CA 3
- 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1979
![property image]()
- Rent
- Rent Per SQFT
- $2,170
- $1.49
-
9836 Snowmass Drive Montclair, CA 1
- 3 beds 3 baths ∙ 1,426 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,426 Sqft ∙ Built 1981
![property image]()
LEASED 05/17/21- Rent
- Rent Per SQFT
- $2,050
- $1.44
-
9361 Shadowood Drive Montclair, CA 2
- 3 beds 3 baths ∙ 1,388 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,388 Sqft ∙ Built 1980
![property image]()
LEASED 01/10/20- Rent
- Rent Per SQFT
- $2,100
- $1.51
-
4314 Appaloosa Way Montclair, CA 4
- 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1999
![property image]()
LEASED 04/23/20- Rent
- Rent Per SQFT
- $2,250
- $1.50
-
10026 Marion Avenue Montclair, CA 5
- 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 1961
![property image]()
LEASED 06/01/20- Rent
- Rent Per SQFT
- $2,400
- $1.57
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservice
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21128648
Last Updated: 07/06/2021
