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4864 Flora Street Montclair, CA 91763

3 Beds 4 Baths 1,052 sqft Built 1960

$418,800

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $398.10
  • 2 Days on Market
  • MLS # : CV20230896
  • Updated Date : 11/02/2020 at 13:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,052 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Top Producers

Listing Agent's Description

Just listed! Beautiful curb appeal 3 bedrooms, 2.5 bath single story home located in the city of Montclair. Close to freeways, schools, shopping centers. As you walk in through the front door, you are greeted by a large living room that connects to the formal dining room and kitchen. The interior of the home was recently painted, and the flooring is all tile, no carpet. Dual pane windows and central AC are some of the upgrades this home has had over the years. The back yard is large in size, and the possibilities are endless. Great location at a great price. Call Erick to schedule an appointment.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$376,920$460,680$418,800

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,545
Property Tax -$385
Property Insurance -$53
Property Management Fees -$116
CASH FLOW
-$129

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.

$418,800

PROJECTED PRICE

$1,970

PROJECTED RENT

0.47%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,732

INVESTMENT

$116,732

Down Payment
$104,700
Rehab Estimate
$5,750
Closing Costs
$6,282

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,545

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,700
Loan Amount $314,100
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$19,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,970
1$1,9702$2,1003$2,1504$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 4864 Flora Street Montclair, CA 1
    • 3 beds 4 baths ∙ 1,052 Sqft ∙ Built 1960 3 beds 4 baths ∙ 1,052 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.87
    •  
  • 9361 Shadowood Drive Montclair, CA 2
    • 3 beds 3 baths ∙ 1,388 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,388 Sqft ∙ Built 1980
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.51
    •  
  • 4391 Harvard Montclair, CA 3
    • 4 beds 2 baths ∙ 1,325 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,325 Sqft ∙ Built 1954
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.62
    •  
  • 5406 Cambridge Street Montclair, CA 4
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1956
    LEASED 05/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.69
    •  
  • 9558 Marion Montclair, CA 5
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1957
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.70
    •  
PROPERTY LISTING DETAILS
Erick Guzman
Re/max Top Producers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20230896
Last Updated: 11/02/2020
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