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1046 Blakely Court Pomona, CA 91767

3 Beds 2 Baths 1,432 sqft Built 1957

$555,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $387.57
  • 6 Days on Market
  • MLS # : CV21037719
  • Updated Date : 02/26/2021 at 21:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,432 sqft
  • Baths : 2 full
Listing Agent

Re/max Resources

Listing Agent's Description

Honey stop the car! You will absolutely want to see this charming home! First you will be impressed by the beautiful curb appeal. Then you enter the home to find an updated kitchen with granite counters. There is also a kitchen nook. There is a spacious living room with a cozy fireplace. There are many windows that let in an abundance of natural light. You will be impressed with the condition of the original hardwood floors. They are beautiful! The bedrooms are generously sized. The master bedroom boasts a 3/4 bath. The hall bath services the other two bedrooms. Outdoors you will find a huge backyard! There is plenty of room for setting up a game of badminton or croquet! The detached two car garage sits at the end of a very long gated driveway, perfect for parking multiple vehicles. This home is also walking distance to the elementary school. You need to hurry to see this fabulous property! You will regret it if you miss it!

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MARKET HIGHLIGHTS

  • 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]
  • 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 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)

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
 

$499,500$610,500$555,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,928
Property Tax -$612
Property Insurance -$62
Property Management Fees -$109
CASH FLOW
-$481

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.

$555,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.40%

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$152,825

INVESTMENT

$152,825

Down Payment
$138,750
Rehab Estimate
$5,750
Closing Costs
$8,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,928

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $138,750
Loan Amount $416,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,239

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $2,202

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2304$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 1046 Blakely Court Pomona, CA 3
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.56
    •  
  • 1087 Terryview Avenue Pomona, CA 1
    • 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.58
    •  
  • 458 Geneva Claremont, CA 2
    • 3 beds 1 baths ∙ 1,489 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,489 Sqft ∙ Built 1952
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.48
    •  
  • 1926 Bonnie Brae Street Pomona, CA 4
    • 3 beds 1 baths ∙ 1,462 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,462 Sqft ∙ Built 1953
    property image
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.57
    •  
  • 1931 Wildrose Avenue Pomona, CA 5
    • 3 beds 1 baths ∙ 1,551 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,551 Sqft ∙ Built 1954
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.52
    •  
PROPERTY LISTING DETAILS
Laura Dandoy
Re/max Resources
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21037719
Last Updated: 02/26/2021
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