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1543 Mc Comas Street Pomona, CA 91766

3 Beds 1 Baths 1,199 sqft Built 1947

$499,500

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $416.60
  • 3 Days on Market
  • MLS # : WS21033781
  • Updated Date : 03/19/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,199 sqft
  • Baths : 1 full
Listing Agent

First California Realty

Listing Agent's Description

This attractive and inviting home is located adjacent to the Phillips Ranch community of Pomona in an established neighborhood of Pomona. East of the 71 frwy& South of the 10frwy. Within a few minutes to Cal-Poly Pomona, The Pomona Fair & Downtown Pomona. Amenities include: Newer Roof, Remodeled Kitchen with new Quartz Counter Tops, Remodeled Bathroom W/Skylight. New Windows, Fireplace, Original Hardwood Floors & Fully Landscaped Back Yard-ready for all those private family gatherings. Bonus Room that can be used as a: Den, Office or as an extra Bedroom, Extra long driveway for additional parking or an RV plus a 2-Car Detached Garage. This home has lots of upside potential for further improvement & remodeling. Inquire with the City of Pomona regarding the possibility of an ADU/Garage conversion. This is a Trust Sale to be sold in: As-Is / As-Disclosed condition with the exception of smoke & carbon monoxide detectors

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
Ganesha High School High Regular 1,131 51 4
Ganesha High School High Unknown NA

Ganesha High School

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

Ganesha High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$449,550$549,450$499,500

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,735
Property Tax -$551
Property Insurance -$56
Property Management Fees -$101
CASH FLOW
-$373

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.

$499,500

PROJECTED PRICE

$2,070

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,118

INVESTMENT

$138,118

Down Payment
$124,875
Rehab Estimate
$5,750
Closing Costs
$7,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,735

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,875
Loan Amount $374,625
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,402

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.73

    LIST RENT PER SQFT
  • $2,119

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0703$2,0904$2,2505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1543 Mc Comas Street Pomona, CA 2
    • 3 beds 1 baths ∙ 1,199 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,199 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.73
    •  
  • 1942 Denison Street Pomona, CA 1
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1952
    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
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.74
    •  
  • 1225 Christina Court Pomona, CA 4
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1965
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.88
    •  
  • 1726 W 9th Street Pomona, CA 5
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1947
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.71
    •  
PROPERTY LISTING DETAILS
Domingo Jose Herrera
First California Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21033781
Last Updated: 03/19/2021
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