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1249 Douglass Drive Pomona, CA 91768

4 Beds 3 Baths 1,726 sqft Built 1956

$600,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $347.62
  • 3 Days on Market
  • MLS # : CV21058230
  • Updated Date : 03/19/2021 at 20:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,726 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Ca Prop

Listing Agent's Description

Welcome to Pomona, Where you can be in three different counties in less than 30 minutes. Ganesha Hills home boasts 4 bedrooms and 2 bathrooms home plus a garage that is legally permitted as a studio room. This property is great for a growing family or rental property. Original rustic hardwood floors Throughout the home. Upgraded kitchen with newer cabinets and counter tops. Tile flooring to compliment. Updated bathrooms. One bathroom with newer tile stand up shower. The other with oversized bathtub with newer vanity. Studio room that has been permitted with its own kitchenette and own full size bathroom. Save money with your electrical bill with the solar panels. Plush landscaping back yard making this place of peace. Close to shopping and 10 fwy makes it convenient and commute friendly

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Roosevelt Elementary School Primary Regular 691 26 3
Marshall Middle School Middle Regular 504 21 5
Ganesha High School High Regular 1,131 51 4

Roosevelt Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 26
3
GreatSchools Rating

Marshall Middle School

  • Education Level: Middle
  • # of students: 504
  • # of teachers: 21
5
GreatSchools Rating

Ganesha High School

  • Education Level: High
  • # of students: 1,131
  • # of teachers: 51
4
GreatSchools Rating
 

$540,000$660,000$600,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$2,084
Property Tax -$662
Property Insurance -$69
Property Management Fees -$114
CASH FLOW
-$599

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.

$600,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.39%

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

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$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,962

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $2,464

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3303$2,3504$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1249 Douglass Drive Pomona, CA 2
    • 4 beds 3 baths ∙ 1,726 Sqft ∙ Built 1956 4 beds 3 baths ∙ 1,726 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.35
    •  
  • 2018 Las Vegas Avenue Pomona, CA 1
    • 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
    •  
  • 1644 Meserve Street Pomona, CA 3
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1947
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.53
    •  
  • 1340 Hillcrest Drive Pomona, CA 4
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1946
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.32
    •  
  • 2145 Victoria Way Pomona, CA 5
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1967
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.36
    •  
PROPERTY LISTING DETAILS
Luis Cano
Berkshire Hathaway Ca Prop
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21058230
Last Updated: 03/19/2021
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