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9860 Steamboat Drive Montclair, CA 91763

3 Beds 3 Baths 1,368 sqft Built 1981

$375,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $274.12
  • 6 Days on Market
  • MLS # : CV20228503
  • Updated Date : 10/30/2020 at 13:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,368 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Masters Realty

Listing Agent's Description

Here it is !! Montclair area, they don't come available too often!! Condo end unit so you only have one neighbor. This is a well kept end unit with 3 bedrooms 2 full baths upstairs, master bedroom has 2 closets and private bathroom with a balcony where you can enjoy the view of a very well maintained community with lots of green belts for your enjoyment. This unit is close, but not too close to the pool and spa. You will enjoy privacy with a 2 car garage that leads right into your private roomy and covered patio area with your own personal spa and offers protection for those rainy days. This unit has new flooring throughout with carpet on the stairs. You will be very close to schools, shopping and minutes from both the 10 fwy and 60 fwy for an easier commute. Virtual tour link available.

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: 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
Monte Vista Elementary School Primary Regular 671 26 6
Serrano Middle School Middle Regular 769 39 7
Montclair High School High Regular 3,034 117 6

Monte Vista Elementary School

  • Education Level: Primary
  • # of students: 671
  • # of teachers: 26
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,384
Property Tax -$344
Property Insurance -$60
HOA -$300
Property Management Fees -$120
CASH FLOW
-$177

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.

$375,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $2,161

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,030
1$2,0302$2,1003$2,2004$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 9860 Steamboat Drive Montclair, CA 1
    • 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.48
    •  
  • 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
    •  
  • 9863 Steamboat Drive Montclair, CA 3
    • 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1981
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.61
    •  
  • 4971 Granada Street Montclair, CA 4
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1961
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.63
    •  
  • 10026 Marion Avenue Montclair, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Ruth Queija
Re/max Masters Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20228503
Last Updated: 10/30/2020
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