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9030 Fremont Avenue Montclair, CA 91763

4 Beds 3 Baths 1,926 sqft Built 1962

$589,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $305.82
  • 5 Days on Market
  • MLS # : TR20233258
  • Updated Date : 11/04/2020 at 18:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,926 sqft
  • Baths : 3 full
Listing Agent

Re/max Universal Realty

Listing Agent's Description

This 1926 square feet single story home featuring 4 bedroom and 3 baths with 7200 square foot lot. Main house consist of 1474 sqft with 3 bedroom and 2 bathroom with a bonus covered sunroom and owner recently converted garage into 452 sqft ADU. ADU includes 1 large bedroom, 1 full bath, and a kitchen, fully permitted!! Large backyard with RV parking. Home Located in a prime area of Montclair with walking distance to Montclair place shopping center,targets, bestbuy, costco and more, easy access to 10/60/210/57 freeways, and universities. Perfect for investor and first time home buyer! For Investors, owner willing to sign up to one year lease term agreement at fair market rate, so rent will immediately be available at close of escrow! Must see to appreciated!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Montclair Downtown

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k549k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: North Montclair Downtown

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200Rent in $10822225

* 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
Moreno Elementary School Primary Regular 545 21 6
Serrano Middle School Middle Regular 769 39 7
Montclair High School High Regular 3,034 117 6

Moreno Elementary School

  • Education Level: Primary
  • # of students: 545
  • # of teachers: 21
6
GreatSchools Rating

Serrano Middle School

  • Education Level: Middle
  • # of students: 769
  • # of teachers: 39
7
GreatSchools Rating

Montclair High School

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

$530,100$647,900$589,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,173
Property Tax -$541
Property Insurance -$74
Property Management Fees -$148
CASH FLOW
-$435

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.

$589,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,489

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1553$2,3754$2,5005$2,800
$2,800
RENT COMPS ANALYSIS
  • 9030 Fremont Avenue Montclair, CA 4
    • 4 beds 3 baths ∙ 1,926 Sqft ∙ Built 1962 4 beds 3 baths ∙ 1,926 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.30
    •  
  • 1540 Corte Hacienda Upland, CA 1
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1982
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.30
    •  
  • 422 Corte Rojo Upland, CA 2
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1982
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,155
    • $1.31
    •  
  • 9802 Mammoth Drive Montclair, CA 3
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1981
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.32
    •  
  • 5561 Cambridge Street Montclair, CA 5
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1962
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.24
    •  
PROPERTY LISTING DETAILS
Jayden Chen
Re/max Universal Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20233258
Last Updated: 11/04/2020
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