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PROPERTY INFO
FACTS
- Single Family
- Built In 1974
- Price/Sqft : $322.73
- 8 Days on Market
- MLS # : CV21025512
- Updated Date : 02/12/2021 at 10:42
CONSTRUCTION
- Beds : 4
- Floor Size : 2,200 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Blackstone Rty
Listing Agent's Description
Location... location... LOCATION! Welcome home to this two-story, 4 bedroom, 2.5 bathroom, pool home situated in a desirable Alta Loma neighborhood in a quiet and friendly cul-de-sac. Enter through double doors into a spacious and bright formal living room with vaulted ceilings and formal dining space. Kitchen boasts tons of natural light and opens to breakfast space and family room with beautiful stone (floor to ceiling) fireplace. Newer high quality carpet through out the upstairs floor. Spacious master suite and three bedrooms are all bedrooms are upstairs. Step out to the private backyard to enjoy a gorgeous pool and spa. Sellers updated and resurfaced entire pool. Replaced decorative tile, updated light pool fixtures, replaced pool coping with travertine. Pool has a new filter and filter housing and a new variable speed pump. Backyard boasts several fruit trees (2 lemon, 1 lime and 1 orange trees) and a vegetable garden with 2 aloe plants, 2 tomato bushes, a blackberry vine... AND an in-ground basketball hoop. What an amazing opportunity within the award winning Alta Loma School District. This is a must see! Please follow all guidelines pertaining to COVID-19 regulations.
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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: Alta Loma
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Alta Loma
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,930 |
| EXPENSES | Loan Payment | -$2,466 |
| Property Tax | -$678 | |
| Property Insurance | -$80 | |
| Property Management Fees | -$173 | |
|
CASH FLOW
-$467
|
||
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.
$709,999
PROJECTED PRICE
$2,930
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 5.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$193,900
LOAN DETAILS
$2,466
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $177,500 |
| Loan Amount | $532,499 |
2.33
YEARS SAVED
$11,897
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,930
LIST RENT -
$1.33
LIST RENT PER SQFT
-
$2,959
COMP ESTIMATED VALUE -
$1.35
COMP AVG. RENT PER SQFT
Comps Range
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1228 Scenic View Street Upland, CA 1
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LEASED 07/26/20- Rent
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- $2,700
- $1.28
-
6460 Sacramento Avenue Rancho Cucamonga, CA 3
- 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1971
LEASED 08/20/19- Rent
- Rent Per SQFT
- $2,800
- $1.29
-
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- 4 beds 3 baths ∙ 2,301 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,301 Sqft ∙ Built 1993
LEASED 07/30/20- Rent
- Rent Per SQFT
- $3,200
- $1.39
PROPERTY LISTING DETAILS
Coldwell Banker Blackstone Rty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21025512
Last Updated: 02/12/2021
