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PROPERTY INFO
FACTS
- Single Family
- Built In 1958
- Price/Sqft : $486.72
- 4 Days on Market
- MLS # : CV21030980
- Updated Date : 02/20/2021 at 20:21
CONSTRUCTION
- Beds : 3
- Floor Size : 1,054 sqft
- Baths : 2 full
Listing Agent
Keller Williams Socal
Listing Agent's Description
Lots of room for you and your family. Pomona home buyers, we think you'll love this cozy 3 bedroom, 2 bath single story home! The home has a 2 car direct access garage, large lot with RV parking or enough room to park 6, yes 6 cars! The yard features an oversized covered patio on a concrete slab. It also has electricity so you can have the perfect backyard birthday party. Inside the home you'll love the recently upgraded dual pane windows and wood laminate flooring. New buyers don't miss it!
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MARKET HIGHLIGHTS
- 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)
- 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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 | $1,810 |
| EXPENSES | Loan Payment | -$1,782 |
| Property Tax | -$566 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$689
|
||
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.
$513,000
PROJECTED PRICE
$1,810
PROJECTED RENT
0.35%
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
$141,695
LOAN DETAILS
$1,782
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $128,250 |
| Loan Amount | $384,750 |
0.33
YEARS SAVED
$363
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,810
LIST RENT -
$1.72
LIST RENT PER SQFT
-
$1,816
COMP ESTIMATED VALUE -
$1.72
COMP AVG. RENT PER SQFT
Comps Range
-
1395 Cornelia Street Pomona, CA 1
- 3 beds 2 baths ∙ 1,054 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,054 Sqft ∙ Built 1958
![property image]()
- Rent
- Rent Per SQFT
- $1,810
- $1.72
-
1942 Denison Street Pomona, CA 2
- 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1952
![property image]()
LEASED 10/29/19- Rent
- Rent Per SQFT
- $1,895
- $1.74
-
2160 Avalon Avenue Pomona, CA 3
- 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1955
![property image]()
LEASED 01/27/20- Rent
- Rent Per SQFT
- $2,090
- $1.74
-
1379 Glen Ave Avenue Pomona, CA 4
- 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1964
![property image]()
LEASED 12/07/19- Rent
- Rent Per SQFT
- $2,275
- $1.63
-
1204 Hillside Drive Pomona, CA 5
- 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 1956
![property image]()
LEASED 01/13/20- Rent
- Rent Per SQFT
- $2,350
- $1.78
PROPERTY LISTING DETAILS
Keller Williams Socal
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21030980
Last Updated: 02/20/2021
