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1317 Baywood Avenue Pomona, CA 91767

4 Beds 2 Baths 2,000 sqft Built 1963

$565,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $282.50
  • 5 Days on Market
  • MLS # : CV20248647
  • Updated Date : 12/04/2020 at 15:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent

The Associates Realty Group

Listing Agent's Description

Great single story Pomona home, sitting on a low maintenance landscaped, large lot. Step through the double entry doors and you'll find many updates. Recess lights, dual pane windows, Granite kitchen counters as well as ceiling fans in all bedrooms. This home has a formal living room with a fireplace and a extra large family room with a fireplace. The kitchen has a breakfast island perfect for a bowl of morning cereal and is open to the formal dining room with sliding door leading to an additional covered patio. Laundry hook ups are located inside and can be discreetly covered with the accordion doors. All bedrooms are spacious with large closets. The hall bathroom has a bathtub and double sinks. The master bedroom has 2 closets and a 3/4 bathroom. The backyard is spacious and perfect for hosting a socially distance gathering with it's covered patio. The 2 car garage is detached with a pedestrian door leading to the patio. This home is conveniently located close to shopping centers, the 10 freeway and just 10 minutes from the Claremont Village where you can enjoy many dining choices.

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MARKET HIGHLIGHTS

  • 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]
  • 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)

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
Montvue Elementary School Primary Regular 276 11 2
Emerson Middle School Middle Regular 618 25 2
Pomona Senior High School High Regular 1,286 59 2

Montvue Elementary School

  • Education Level: Primary
  • # of students: 276
  • # of teachers: 11
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
 

$508,500$621,500$565,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,085
Property Tax -$623
Property Insurance -$75
Property Management Fees -$127
CASH FLOW
-$311

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.

$565,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.46%

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$21,777

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,785

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,6004$2,6505$3,200
$3,200
RENT COMPS ANALYSIS
  • 1317 Baywood Avenue Pomona, CA 3
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.30
    •  
  • 4285 Denver Street Montclair, CA 1
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1955
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.36
    •  
  • 2145 Victoria Way Pomona, CA 2
    • 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
    •  
  • 942 Barbara Lane Pomona, CA 4
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1962 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1962
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.27
    •  
  • 463 Milton Court Claremont, CA 5
    • 4 beds 1 baths ∙ 2,024 Sqft ∙ Built 1958 4 beds 1 baths ∙ 2,024 Sqft ∙ Built 1958
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.58
    •  
PROPERTY LISTING DETAILS
Jeannette Arias
The Associates Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20248647
Last Updated: 12/04/2020
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