Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9060 Fremont Avenue Montclair, CA 91763

3 Beds 1 Baths 1,458 sqft Built 1962

$575,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $394.38
  • 5 Days on Market
  • MLS # : OC21038166
  • Updated Date : 02/24/2021 at 12:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,458 sqft
  • Baths : 1 full
Listing Agent

Wise Choices Realty

Listing Agent's Description

COMPLETELY REMODELED! 3 beds / 2 baths, 1,458 SQFT single story, open floor plan, home centrally located within walking distance of shops and restaurants at Montclair Plaza, Costco 1 mile away, and convenient Interstate 10 access on a 7,350 SQFT LOT. Features include: wood laminate flooring throughout, new AC, including ductwork, new dual pane low-E windows. Fully remodeled kitchen with quartz countertops, cabinets, black stainless-steel appliances (dishwasher and gas stove). New bathrooms with quartz counters and tile flooring. New asphalt shingle roof. New garage door with epoxy flooring. Fresh interior and exterior paint. Generous driveway parking at front, new sod, and a huge new covered patio in the rear … and MUCH MORE! Property is turn-key, and ideal for primary home or investment purchase. View Listing website @ http://www.rbpdrealestateca.com/9060-freemont-montclair-ca. Make an appointment to view and submit your offers!

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: 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
Serrano Middle School Middle Regular 769 39 7
Montclair High School High Regular 3,034 117 6
Serrano Middle School Middle Unknown NA

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

Serrano Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,997
Property Tax -$528
Property Insurance -$63
Property Management Fees -$126
CASH FLOW
-$574

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.

$575,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.37%

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

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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,262

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $2,165

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1404$2,3005$2,550
$2,550
RENT COMPS ANALYSIS
  • 9060 Fremont Avenue Montclair, CA 3
    • 3 beds 1 baths ∙ 1,458 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,458 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.47
    •  
  • 484 Corte Verde Upland, CA 1
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1982
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.52
    •  
  • 9361 Shadowood Drive Montclair, CA 2
    • 3 beds 3 baths ∙ 1,388 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,388 Sqft ∙ Built 1980
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.51
    •  
  • 1347 Deodar Ontario, CA 4
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.49
    •  
  • 9802 Mammoth Drive Montclair, CA 5
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1981
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.42
    •  
PROPERTY LISTING DETAILS
Rebecca Burtonkey
Wise Choices Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21038166
Last Updated: 02/24/2021
BESbswy