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PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $385.19
- 6 Days on Market
- MLS # : IV20261340
- Updated Date : 12/22/2020 at 20:06
CONSTRUCTION
- Beds : 4
- Floor Size : 1,350 sqft
- Baths : 2 full
Listing Agent
Windermere R.e. Tower Prop.
Listing Agent's Description
Excellent North Pomona home! This lovely 4 bedroom 2 bath is located in a highly sought after neighborhood. Very well maintained & sits on a large lot. Upgrades include a newer roof, dual paned vinyl windows, exterior paint, laminate wood flooring & some interior paint. Spacious living room has a brick fireplace, indirect lighting & large sliding doors which allows for an abundance of light. The dining room is perfect for family gatherings. Upgraded kitchen with corian counters, stainless sinks, newer white appliances & tile flooring. Enjoy the cozy breakfast nook. Bathrooms have been upgraded with stone shower & walk-in soaking tub. The office or 4th. bedroom has a built-in desk. You will have instant hot water with the tankless water heater. Beautiful backyard with block walls for privacy. The living room opens to the backyard with a large concrete patio & beautiful alumawood covers. The attached oversized two car garage has a separate entrance from the front yard. Large concrete driveway allows for RV parking. Centrally located near schools & shopping. This one is a gem!
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MARKET HIGHLIGHTS
- 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)
- 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]
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 | $2,190 |
| EXPENSES | Loan Payment | -$1,919 |
| Property Tax | -$574 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$107 | |
|
CASH FLOW
-$469
|
||
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.
$520,000
PROJECTED PRICE
$2,190
PROJECTED RENT
0.42%
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
$143,550
LOAN DETAILS
$1,919
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $130,000 |
| Loan Amount | $390,000 |
2
YEARS SAVED
$7,739
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,190
LIST RENT -
$1.62
LIST RENT PER SQFT
-
$2,133
COMP ESTIMATED VALUE -
$1.58
COMP AVG. RENT PER SQFT
Comps Range
-
1638 Sheridan Avenue Pomona, CA 2
- 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956
![property image]()
- Rent
- Rent Per SQFT
- $2,190
- $1.62
-
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
-
1931 Wildrose Avenue Pomona, CA 3
- 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
-
135 Buena Vista Drive Claremont, CA 4
- 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1961
![property image]()
LEASED 03/15/20- Rent
- Rent Per SQFT
- $2,400
- $1.66
-
1114 Ringe Court Pomona, CA 5
- 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1963
![property image]()
LEASED 08/14/19- Rent
- Rent Per SQFT
- $2,495
- $1.56
PROPERTY LISTING DETAILS
Windermere R.e. Tower Prop.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20261340
Last Updated: 12/22/2020
