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PROPERTY INFO
FACTS
- Single Family
- Built In 1980
- Price/Sqft : $385.63
- 3 Days on Market
- MLS # : IV20243475
- Updated Date : 11/20/2020 at 11:27
CONSTRUCTION
- Beds : 4
- Floor Size : 1,400 sqft
- Baths : 2 full
Listing Agent
Nexthome Crea Real Estate
Listing Agent's Description
Welcome to your charming 4 bedroom 2 bath home. Nestle in the historic city of Upland. Moments upon arrival you find great curb appeal, 2 car garage and R.V. parking. Nice walk path to front door. As you enter your home you are greeted with a lovely open living room, dining room and kitchen area. Hardwood flooring and window shutters throughout the home. Kitchen has new shaker cabinets, sink, countertops and Island. Bathrooms have been remodeled with tile flooring, showers, vanities and mirrors. Spacious backyard with custom built woodshed and vinyl fencing. Great for hosting and entertaining. Walking distance to Upland Unified Schools. Come Tour. Fall in Love. Make an offer.
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MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Upland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Upland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,160 |
| EXPENSES | Loan Payment | -$1,992 |
| Property Tax | -$504 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
-$524
|
||
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.
$539,888
PROJECTED PRICE
$2,160
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| 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
$148,820
LOAN DETAILS
$1,992
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $134,972 |
| Loan Amount | $404,916 |
1.33
YEARS SAVED
$4,240
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,160
LIST RENT -
$1.54
LIST RENT PER SQFT
-
$2,121
COMP ESTIMATED VALUE -
$1.52
COMP AVG. RENT PER SQFT
Comps Range
-
865 N 4th Avenue Upland, CA 1
- 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1980
![property image]()
- Rent
- Rent Per SQFT
- $2,160
- $1.54
-
1292 Armando Street Upland, CA 2
- 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1978
![property image]()
LEASED 03/23/20- Rent
- Rent Per SQFT
- $2,400
- $1.54
-
264 Freedom Avenue Upland, CA 3
- 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 2000
![property image]()
LEASED 09/17/19- Rent
- Rent Per SQFT
- $2,450
- $1.47
-
1333 N Ukiah Way Upland, CA 4
- 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1961
![property image]()
LEASED 08/07/19- Rent
- Rent Per SQFT
- $2,485
- $1.60
-
1108 E 9th Street Upland, CA 5
- 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1990
![property image]()
LEASED 06/17/19- Rent
- Rent Per SQFT
- $2,500
- $1.45
PROPERTY LISTING DETAILS
Nexthome Crea Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20243475
Last Updated: 11/20/2020
