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5462 Harvard Street Montclair, CA 91763

4 Beds 2 Baths 1,348 sqft Built 1957

$458,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $339.76
  • 5 Days on Market
  • MLS # : WS20237993
  • Updated Date : 11/14/2020 at 16:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,348 sqft
  • Baths : 1 full , 1 half
Listing Agent

Irn Realty

Listing Agent's Description

DRIVE BY ONLY!!! TENANTS OCCUPIED PROPERTY !!! READ REMARK CAREFULLY!!! This is a 4 Bedrooms 1.5 Baths Home located in the City of Montclair - Home needs some TLC- This home is perfect for a buyer to have their owner design after COE. seller will not entertain any repair requests. Tenant occupied, please do not disturb tenants. Drive by ONLY, interior showing, and inspection is subject to acceptance of offer. Please submit offer along with proof of funds, direct lender loan pre-approval, and FICO scores for consideration.

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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
El Camino Elementary School Primary Regular 460 20 5
El Camino Elementary School Middle Regular 460 20 5
Montclair High School High Regular 3,034 117 6

El Camino Elementary School

  • Education Level: Primary
  • # of students: 460
  • # of teachers: 20
5
GreatSchools Rating

El Camino Elementary School

  • Education Level: Middle
  • # of students: 460
  • # of teachers: 20
5
GreatSchools Rating

Montclair High School

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

$412,200$503,800$458,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,690
Property Tax -$421
Property Insurance -$60
Property Management Fees -$120
CASH FLOW
-$260

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.

$458,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.44%

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,120

INVESTMENT

$127,120

Down Payment
$114,500
Rehab Estimate
$5,750
Closing Costs
$6,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,500
Loan Amount $343,500
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$12,118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $2,191

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0303$2,2504$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 5462 Harvard Street Montclair, CA 2
    • 4 beds 2 baths ∙ 1,348 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,348 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.51
    •  
  • 1334 N Elderberry Avenue Ontario, CA 1
    • 3 beds 3 baths ∙ 1,246 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,246 Sqft ∙ Built 1976
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.60
    •  
  • 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
    •  
  • 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
Jih Shyan Lin
Irn Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20237993
Last Updated: 11/14/2020
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