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4980 Manzanita Street Montclair, CA 91763

3 Beds 2 Baths 1,416 sqft Built 1986

INVESTimate

$520,000

List Price

$2,020

$1,818 - $2,222

Rent Est.

$557,440  ( +7.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $367.23
  • 3 Days on Market
  • MLS # : CV20173746
  • Updated Date : 08/25/2020 at 18:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,416 sqft
  • Baths : 2 full
Listing Agent

Metro Real Estate

Listing Agent's Description

Gorgeous single-story house with pool. 3 bedrooms + 2 bathrooms. Newer laminated wood flooring in the whole house. Recently remodeled bathrooms. Attractive plantations shutters and horizontal wood blinds in all windows. New panel doors in all rooms. Built-in closet cabinetry in all the bedrooms. The whole interior of the house is freshly repainted. Sparkling pool in the backyard ready for your wholesome family enjoyment. Corner location. Conveniently located near commercial shops, restaurants, elementary school, public bus stop,etc. Easy access to and from freeway 10 & 60. This is an opportunity you don't want to miss.

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
Montera Elementary School Primary Regular 692 29 4
Montera Elementary School Middle Regular 692 29 4
Montclair High School High Regular 3,034 117 6

Montera Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 29
4
GreatSchools Rating

Montera Elementary School

  • Education Level: Middle
  • # of students: 692
  • # of teachers: 29
4
GreatSchools Rating

Montclair High School

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

$468,000$572,000$520,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,919
Property Tax -$479
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$558

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.

$520,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.20%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,941

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $2,039

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$2,020
1$2,0202$2,1003$2,1004$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 4980 Manzanita Street Montclair, 1
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.43
    •  
  • 10556 Morgan Circle Montclair, 2
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2000
    LEASED 02/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.40
    •  
  • 4296 Appaloosa Way Montclair, 3
    • 3 beds 3 baths ∙ 1,521 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,521 Sqft ∙ Built 1999
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.38
    •  
  • 5081 Bandera Street Montclair, 4
    • 4 beds 3 baths ∙ 1,451 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,451 Sqft ∙ Built 1981
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.48
    •  
  • 4314 Appaloosa Way Montclair, 5
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1999
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.50
    •  
PROPERTY LISTING DETAILS
Patrick So
Metro Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20173746
Last Updated: 08/25/2020
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