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1065 E Phillips Boulevard Pomona, CA 91766

3 Beds 2 Baths 1,558 sqft Built 1984

$503,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $323.43
  • 3 Days on Market
  • MLS # : SR21024925
  • Updated Date : 02/05/2021 at 17:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,558 sqft
  • Baths : 1 full , 1 half
Listing Agent

Johnhart Corp.

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
Simons Middle School Middle Regular 799 34 4
Garey Senior High School High Regular 1,819 76 3
Simons Middle School Middle Unknown NA

Simons Middle School

  • Education Level: Middle
  • # of students: 799
  • # of teachers: 34
4
GreatSchools Rating

Garey Senior High School

  • Education Level: High
  • # of students: 1,819
  • # of teachers: 76
3
GreatSchools Rating

Simons Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$453,510$554,290$503,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,750
Property Tax -$556
Property Insurance -$65
Property Management Fees -$116
CASH FLOW
-$117

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.

$503,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.47%

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-$5.0k$0.0$5.0k$10k$15k$20k

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$139,284

INVESTMENT

$139,284

Down Payment
$125,975
Rehab Estimate
$5,750
Closing Costs
$7,559

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,750

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,975
Loan Amount $377,925
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$27,494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $2,392

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,3503$2,3704$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 1065 E Phillips Boulevard Pomona, CA 3
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.52
    •  
  • 1455 S Gibbs Street Pomona, CA 1
    • 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1990
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.52
    •  
  • 145 Brookmont Lane Pomona, CA 2
    • 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 1995
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.58
    •  
  • 1080 Verbena Court Pomona, CA 4
    • 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 1997
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.52
    •  
  • 147 Ashbrook Lane Pomona, CA 5
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1995
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.52
    •  
PROPERTY LISTING DETAILS
John Maseredjian
Johnhart Corp.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21024925
Last Updated: 02/05/2021
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