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1177 S Reservoir Pomona, CA 91766

3 Beds 2 Baths 1,552 sqft Built 1989

$439,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $282.86
  • 7 Days on Market
  • MLS # : IV20260759
  • Updated Date : 12/23/2020 at 13:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,552 sqft
  • Baths : 2 full
Listing Agent

Paradise R E Capital

Listing Agent's Description

Don’t miss this gated community charming home! A bright, airy 2-story detached condo features 3 bedrooms and 3 bathrooms with a living area of 1552 sq. ft and a private back yard. All bedrooms are on the 2nd floor. The master suite has a lovely balcony. Downstairs offers a kitchen with nice cabinets and granite counter, spacious living room, dining room, and attached 2-car garage with laundry …… This newly painted interior and exterior building is so beautiful and quiet. It is convenient to shopping markets and to 60, 10, 71 freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

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
Washington Elementary School Primary Regular 698 26 3
Simons Middle School Middle Regular 799 34 4
Garey Senior High School High Regular 1,819 76 3

Washington Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 26
3
GreatSchools Rating

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
 

$395,100$482,900$439,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,620
Property Tax -$484
Property Insurance -$65
HOA -$198
Property Management Fees -$103
CASH FLOW
-$369

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.

$439,000

PROJECTED PRICE

$2,100

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $2,122

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0503$2,0504$2,1005$2,600
$2,600
RENT COMPS ANALYSIS
  • 1177 S Reservoir Pomona, CA 4
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.35
    •  
  • 1189 S Reservoir Street Pomona, CA 1
    • 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 1989
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.28
    •  
  • 1455 S Gibbs Street Pomona, CA 2
    • 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1990
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.52
    •  
  • 1087 E Grand Avenue Pomona, CA 3
    • 3 beds 3 baths ∙ 1,629 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,629 Sqft ∙ Built 2005
    property image
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.26
    •  
  • 1166 E Grand Ave Pomona, CA 5
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2008
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.41
    •  
PROPERTY LISTING DETAILS
Yuxin Shi
Paradise R E Capital
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20260759
Last Updated: 12/23/2020
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