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5005 Canoga Street Montclair, CA 91763

3 Beds 2 Baths 1,190 sqft Built 1957

$475,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $399.16
  • 6 Days on Market
  • MLS # : DW20238151
  • Updated Date : 11/16/2020 at 07:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,190 sqft
  • Baths : 2 full
Listing Agent

Realty One Group United

Listing Agent's Description

Charming 3 Bedroom, 2 Bath home on spacious lot in the city of Montclair! Home has been freshly painted throughout, new carpet in bedrooms. Two car attached garage. Large back yard with Tuff Shed storage unit (office space/rumpus room). Living room sliding doors lead to large covered patio area! Wood burning fireplace in the living room. Central Heat/AC. Ideally situated in close proximity to shopping, schools & public transportation.

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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,753
Property Tax -$436
Property Insurance -$56
Property Management Fees -$111
CASH FLOW
-$476

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.

$475,000

PROJECTED PRICE

$1,880

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.58

    LIST RENT PER SQFT
  • $1,910

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,880
1$1,8802$2,1503$2,3004$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 5005 Canoga Street Montclair, CA 1
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.58
    •  
  • 4391 Harvard Montclair, CA 2
    • 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
    •  
  • 1513 W F Street Ontario, CA 3
    • 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.60
    •  
  • 4971 Granada Street Montclair, CA 4
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1961
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.63
    •  
  • 10026 Marion Avenue Montclair, CA 5
    • 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 1961
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.57
    •  
PROPERTY LISTING DETAILS
Jaime Enriquez
Realty One Group United
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20238151
Last Updated: 11/16/2020
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