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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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pomona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$127,385
LOAN DETAILS
$1,594
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $114,750 |
| Loan Amount | $344,250 |
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
-
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
Keller Williams Pacific Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21022012
Last Updated: 02/09/2021
