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1143 E Alvarado Street Pomona, CA 91767

3 Beds 2 Baths 1,175 sqft Built 1955

$459,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $390.64
  • 12 Days on Market
  • MLS # : PW21022012
  • Updated Date : 02/09/2021 at 18:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,175 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Pacific Estate

Listing Agent's Description

Located in a desirable neighborhood of Pomona. Here is a great opportunity to own a 3 bedroom, 2 baths, 2 car garage home with updated plumbing throughout the house. You'll enter into an open floor plan into the kitchen and living room with a beautiful wood-burning fireplace. The living room opens to the backyard, with a heated saltwater pool. The liner to the pool was replaced 2 yrs ago. Need some rest and relaxation after a long day. Hop into your jacuzzi while watching your favorite show on your outdoor tv. The double-pane windows throughout the house, will help conserve energy. Another amazing feature of this wonderful home, is the solar panels will be fully paid off which will help reduce the electric bill. The 10 and 210 freeways are nearby as well as several colleges CalPoly, Scripts, Claremont and Pomona College are, but a few nearby great institutions.

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
 

$413,100$504,900$459,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,594
Property Tax -$506
Property Insurance -$56
Property Management Fees -$108
CASH FLOW
-$64

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.

$459,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,385

INVESTMENT

$127,385

Down Payment
$114,750
Rehab Estimate
$5,750
Closing Costs
$6,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,594

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,750
Loan Amount $344,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$29,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $1,801

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,2004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 1143 E Alvarado Street Pomona, CA 4
    • 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.87
    •  
  • 1087 Terryview Avenue Pomona, CA 1
    • 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.58
    •  
  • 2018 Las Vegas Avenue Pomona, CA 2
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1963
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.50
    •  
  • 458 Geneva Claremont, CA 3
    • 3 beds 1 baths ∙ 1,489 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,489 Sqft ∙ Built 1952
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.48
    •  
  • 1926 Bonnie Brae Street Pomona, CA 5
    • 3 beds 1 baths ∙ 1,462 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,462 Sqft ∙ Built 1953
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.57
    •  
PROPERTY LISTING DETAILS
Russell Quackenbush
Keller Williams Pacific Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21022012
Last Updated: 02/09/2021
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