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967 W 13th Street Upland, CA 91786

4 Beds 2 Baths 2,042 sqft Built 1965

$558,800

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $273.65
  • 3 Days on Market
  • MLS # : CV20234678
  • Updated Date : 11/07/2020 at 09:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,042 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Best Buy for this desirable single story ranch style home located in an established neighborhood of Upland. This home has 4 bedrooms 2 baths with approximately 2042 square feet of living space with large lot located one block from the elementary school. This lovely home has a newer roof, has a great floor plan, front courtyard with gate, front door has a glass-leveled double doors, living room has a cozy fireplace, wood laminate in the entry, hallway & family room. Wet bar in family room. Kitchen has oak kitchen cabinets, double oven, 5-burner counter stove & dishwasher. Kitchen nook. Hallway bathroom has double sinks & tile floors. All bedrooms has carpet flooring. Master bath has a private vanity and closets. Master bedroom has sliding doors leading to a private backyard. Ceiling fans in master bedroom, family room and kitchen. Sliding door from family room opens to the backyard with covered patio and fruit trees. Home has direct access to a 2 car attached garage. Driveway has ample space for additional parking. This lovely home is close to park, close to schools & shopping. Priced to sell! Hurry ...this will not last!

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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: Upland

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k642k

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

Neighborhood: Upland

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400Rent in $10822575

* 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
Sycamore Elementary School Primary Regular 452 18 7
Pioneer Junior High School Middle Regular 928 37 9
Upland High School High Regular 3,456 137 7

Sycamore Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 18
7
GreatSchools Rating

Pioneer Junior High School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 37
9
GreatSchools Rating

Upland High School

  • Education Level: High
  • # of students: 3,456
  • # of teachers: 137
7
GreatSchools Rating
 

$502,920$614,680$558,800

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,062
Property Tax -$522
Property Insurance -$77
Property Management Fees -$162
CASH FLOW
-$72

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.

$558,800

PROJECTED PRICE

$2,750

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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$20k$25k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,832

INVESTMENT

$153,832

Down Payment
$139,700
Rehab Estimate
$5,750
Closing Costs
$8,382

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,700
Loan Amount $419,100
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$37,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $2,966

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7503$2,8504$3,1505$3,250
$3,250
RENT COMPS ANALYSIS
  • 967 W 13th Street Upland, CA 2
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.35
    •  
  • 1293 Brenda Court Upland, CA 1
    • 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 1974
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.48
    •  
  • 1228 Diana Court Upland, CA 3
    • 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1977
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.40
    •  
  • 1376 N Euclid Avenue Upland, CA 4
    • 4 beds 2 baths ∙ 2,338 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,338 Sqft ∙ Built 1974
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.35
    •  
  • 1253 N Ukiah Way Upland, CA 5
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 1957 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 1957
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.58
    •  
PROPERTY LISTING DETAILS
Irene Mcghee
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20234678
Last Updated: 11/07/2020
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