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1040 E Kingsley Avenue Pomona, CA 91767

5 Beds 2 Baths 1,801 sqft Built 1930

$569,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1930
  • Price/Sqft : $315.94
  • 3 Days on Market
  • MLS # : PW20239086
  • Updated Date : 11/14/2020 at 14:46
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,801 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Very special property with many options plus mountain view! Home is three separate units so it can be used as rental income property or for an extended family/multi family/mother in law set up. Addition is one bedroom, ADU is one bedroom. Property is in great condition with beautiful tile floors and vinyl windows to cut down on utility expenses and reduce noise pollution. Central air and heating in front house and add on unit. Lots of storage and plenty of parking on the property or on the street. Plenty of outdoor space on this gated/fenced safe and secure property. You just have to come by and see what you can do to make this property yours and be a part of this upcoming city where Amazon was considering Pomona as there HQ2 in their national search or to see why film and TV industry use Pomona for filming. Convenient to Puddingstone Lake hiking and biking trails, and Brackett airport. Also near public transportation, downtown Transportation Hub, two Metrolink stations, four freeways, Cal Poly Pomona, the Claremont Colleges, Western University, ULV, Pomona’s award winning schools and Pomona Valley Trauma Center PLUS the Gold Line (Brain Train) is coming to Pomona!

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)
  • 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]
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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)
  • 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 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Pomona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $138k622k

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

Neighborhood: Pomona

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12562941

* 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
Kingsley Elementary School Primary Regular 645 25 2
Emerson Middle School Middle Regular 618 25 2
Pomona Senior High School High Regular 1,286 59 2

Kingsley Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 25
2
GreatSchools Rating

Emerson Middle School

  • Education Level: Middle
  • # of students: 618
  • # of teachers: 25
2
GreatSchools Rating

Pomona Senior High School

  • Education Level: High
  • # of students: 1,286
  • # of teachers: 59
2
GreatSchools Rating
 

$512,100$625,900$569,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,099
Property Tax -$628
Property Insurance -$71
Property Management Fees -$122
CASH FLOW
-$439

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$569,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$12,693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $2,368

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,480
$2,480
RENT COMPS ANALYSIS
  • 1040 E Kingsley Avenue Pomona, CA 3
    • 4 beds 2 baths ∙ 1,801 Sqft ∙ Built 1930 4 beds 2 baths ∙ 1,801 Sqft ∙ Built 1930
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.38
    •  
  • 265 Lincoln Avenue Pomona, CA 1
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1923
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.52
    •  
  • 319 Randolph Street Pomona, CA 2
    • 3 beds 2 baths ∙ 2,065 Sqft ∙ Built 1928 3 beds 2 baths ∙ 2,065 Sqft ∙ Built 1928
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.11
    •  
PROPERTY LISTING DETAILS
Frederick Van Allen
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20239086
Last Updated: 11/14/2020
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