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1633 N Gordon Court Pomona, CA 91768

4 Beds 2 Baths 1,427 sqft Built 1944

$524,888

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1944
  • Price/Sqft : $367.83
  • 6 Days on Market
  • MLS # : CV21037375
  • Updated Date : 02/25/2021 at 05:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,427 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Town & Country

Listing Agent's Description

This Mid Century Bungalow sits conveniently in a cul-de-sac in the Hacienda Park Historic District of Pomona, North of the 10FWY. This charming single-story home has 4 Bedrooms and 2 Bathrooms, a newer roof, newer windows, updated copper plumbing, and a newer electrical panel and water heater and wholehouse fan. As you walk in, you enter the living room followed by the dining area, wood laminate flooring throughout. A long hallway on your left leads to the 3 bedrooms and first bathroom which has been beautifully remodeled. The family kitchen has granite countertops and tile flooring. As you pass through the kitchen into a hallway, there is a laundry closet and door leading to the backyard. The large Master Bedroom with Master Bathroom were built as permitted additions. The back yard is ample and wraps around the house to a gate leading to the driveway and a door to the detached 2 car garage. This home is located 2 blocks across from Pomona Valley Hospital; 1 block from 10FWY on-ramp; 1.3 miles from the Fairplex (LA County Fair); 3.5 miles from the Claremont Colleges, the Claremont Village & the 57FWY; 4 miles from Costco & Montclair Plaza Mall; and 10.7 miles from Ontario International Airport.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

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
Pomona Senior High School High Regular 1,286 59 2
Pomona High School High Unknown NA

Pomona Senior High School

  • Education Level: High
  • # of students: 1,286
  • # of teachers: 59
2
GreatSchools Rating

Pomona High School

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

$472,399$577,377$524,888

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,823
Property Tax -$579
Property Insurance -$62
Property Management Fees -$113
CASH FLOW
-$276

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.

$524,888

PROJECTED PRICE

$2,300

PROJECTED RENT

0.44%

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$144,845

INVESTMENT

$144,845

Down Payment
$131,222
Rehab Estimate
$5,750
Closing Costs
$7,873

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,823

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,222
Loan Amount $393,666
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$15,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.61

    LIST RENT PER SQFT
  • $2,233

    COMP ESTIMATED VALUE
  • $1.57

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1633 N Gordon Court Pomona, CA 3
    • 4 beds 2 baths ∙ 1,427 Sqft ∙ Built 1944 4 beds 2 baths ∙ 1,427 Sqft ∙ Built 1944
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.61
    •  
  • 1087 Terryview Avenue Pomona, CA 1
    • 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.58
    •  
  • 2018 Las Vegas Avenue Pomona, CA 2
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1963
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.50
    •  
  • 1931 Wildrose Avenue Pomona, CA 4
    • 3 beds 1 baths ∙ 1,551 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,551 Sqft ∙ Built 1954
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.52
    •  
  • 227 Marywood Avenue Claremont, CA 5
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1964
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.66
    •  
PROPERTY LISTING DETAILS
Paul Piedrahita
Coldwell Banker Town & Country
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21037375
Last Updated: 02/25/2021
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