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1573 S Reservoir Street #F Pomona, CA 91766

3 Beds 2 Baths 1,231 sqft Built 1989

$350,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1989
  • Price/Sqft : $284.32
  • 75 Days on Market
  • MLS # : CV20165918
  • Updated Date : 10/26/2020 at 05:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,231 sqft
  • Baths : 2 full
Listing Agent

Century 21 Citrus Realty Inc

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Alcott Elementary School Primary Regular 953 36 3
Simons Middle School Middle Regular 799 34 4
Garey Senior High School High Regular 1,819 76 3

Alcott Elementary School

  • Education Level: Primary
  • # of students: 953
  • # of teachers: 36
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,291
Property Tax -$386
Property Insurance -$57
HOA -$300
Property Management Fees -$99
CASH FLOW
-$303

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.

$350,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.52%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$4,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $1,840

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$2,0503$2,1004$2,2505$2,350
$2,350
RENT COMPS ANALYSIS
  • 1573 S Reservoir Street Pomona, CA 1
    • 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.49
    •  
  • 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
    •  
  • 4296 Appaloosa Way Montclair, CA 3
    • 3 beds 3 baths ∙ 1,521 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,521 Sqft ∙ Built 1999
    property image
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.38
    •  
  • 4314 Appaloosa Way Montclair, CA 4
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1999
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.50
    •  
  • 145 Brookmont Lane Pomona, CA 5
    • 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 1995
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.58
    •  
PROPERTY LISTING DETAILS
Albert Rodriguez
Century 21 Citrus Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20165918
Last Updated: 10/26/2020
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