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9557 Marion Avenue Montclair, CA 91763

5 Beds 2 Baths 1,628 sqft Built 1957

$585,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $359.34
  • 4 Days on Market
  • MLS # : 532268
  • Updated Date : 02/18/2021 at 14:34
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,628 sqft
  • Baths : 2 full
Listing Agent

Century 21 Desert Rock

Listing Agent's Description

Completely rehabbed and ready for move in! This wonderful home in the heart of Montclair is a gem! 5 bedrooms, 2 full baths, with approx. 1628 SF, you'll be quite comfortable here! Kitchen remodeled with all new white cabinetry, new granite counters, and stove New fixtures. New wood flooring and new paint throughout adds to the modern look. Bathrooms are all new, from the floors to the ceiling and everything in between. Spacious master bedroom has doors leading to the backyard - you can have open for air flow. Nice sized backyard is fenced and has a storage shed. Comfortable enclosed patio allows you to enjoy the outdoors while staying protected from outside critters. 2-car garage has just the right amount of room. Great location, just below the 10 freeway and near the Montclair Mall, restaurants, and more. Don't miss this great home! Association Amenities: None # of RV Spaces: 0 Special Features: PTRY,SHNONE Lot Location Type: Standard Location # of Attached Spaces: 2 # of Detached Spaces: 0

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
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
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,032
Property Tax -$537
Property Insurance -$67
Property Management Fees -$147
CASH FLOW
-$293

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.

$585,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.43%

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$1.6M$1.8M

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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$13,939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $2,564

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4903$2,750
$2,750
RENT COMPS ANALYSIS
  • 9557 Marion Avenue Montclair, CA 2
    • 5 beds 2 baths ∙ 1,628 Sqft ∙ Built 1957 5 beds 2 baths ∙ 1,628 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.53
    •  
  • 10026 Marion Avenue Montclair, CA 1
    • 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 1961
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.57
    •  
  • 375 S San Antonio Avenue Upland, CA 3
    • 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 1962
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.58
    •  
PROPERTY LISTING DETAILS
Keith Liverman
Century 21 Desert Rock
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 532268
Last Updated: 02/18/2021
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