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4596 Berkeley Street Montclair, CA 91763

3 Beds 2 Baths 1,314 sqft Built 1957

$529,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $402.59
  • 4 Days on Market
  • MLS # : IG20263675
  • Updated Date : 12/31/2020 at 15:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,314 sqft
  • Baths : 2 full
Listing Agent

Remax One

Listing Agent's Description

Welcome Home! Your newly renovated home is in the midst of the charming city of Montclair. Within short proximity to the 10 freeway, schools, restaurants, and much more, your everyday commute will not be a problem. With great curb appeal, sellers have spared no expense in bringing this home back to its perfection. With new exterior paint, new landscape, and some handy work, this home is turn key, simply bring your bags and you are ready to move in. From the moment you walk in to the moment you step into your backyard, this home makes you feel at home with all the natural sunlight that emerges from the windows and the open floor concept. Your home has new interior paint throughout, new laminate flooring throughout, and new carpet in all 3 bedrooms. Your brand new kitchen has been completely remodeled with beautiful quartz countertops, white cabinetry with black handles, and stainless steel appliances. Both bathrooms have been remodeled as well with beautiful tile flooring, new sink vanity, and black fixtures. Not to mention, your backyard offers a covered patio area and enough space to host endless family gatherings. Come see for yourself!

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
Monte Vista Elementary School Primary Regular 671 26 6
Serrano Middle School Middle Regular 769 39 7
Montclair High School High Regular 3,034 117 6

Monte Vista Elementary School

  • Education Level: Primary
  • # of students: 671
  • # of teachers: 26
6
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
 

$476,100$581,900$529,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,952
Property Tax -$486
Property Insurance -$59
Property Management Fees -$124
CASH FLOW
-$521

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.

$529,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.40%

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-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,935

INVESTMENT

$145,935

Down Payment
$132,250
Rehab Estimate
$5,750
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $2,171

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2504$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 4596 Berkeley Street Montclair, CA 1
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.60
    •  
  • 4391 Harvard Montclair, CA 2
    • 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
    •  
  • 9558 Marion Montclair, CA 3
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1957
    property image
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.70
    •  
  • 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
    •  
  • 135 Buena Vista Drive Claremont, CA 5
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1961
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.66
    •  
PROPERTY LISTING DETAILS
Juan Aguirre
Remax One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20263675
Last Updated: 12/31/2020
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