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1646 Redbud Place Pomona, CA 91766

4 Beds 2 Baths 1,530 sqft Built 1978

$640,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $418.30
  • 3 Days on Market
  • MLS # : IV21030280
  • Updated Date : 02/12/2021 at 18:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,530 sqft
  • Baths : 2 full
Listing Agent

Monarch Investment Realty

Listing Agent's Description

Welcome to this most sought after and highly desirable Phillips Ranch Westmont Community. This home is located in a quiet Cul De Sac with stunning view of city lights and San Gabriel Mountains. Conveniently located near Cal Poly Pomona, Western University of Health Sciences and The Pomona Arts Colony adjacent to Phillips Ranch. This Fabulous home features 4 Large Bedrooms and 2 Bathrooms, Gorgeous Hardwood Flooring, Ceiling Fans, Fireplace, Formal Dining Area, and Built in Ceiling Speakers for Surround Sound System. You will enjoy entertaining and family gatherings in your large, private and spacious backyard. Front yard is spacious and well manicured. You will love this home! Call for your private showing today.

SEE MORE

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
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
 

$576,000$704,000$640,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,223
Property Tax -$706
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$682

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.

$640,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.38%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,350

INVESTMENT

$175,350

Down Payment
$160,000
Rehab Estimate
$5,750
Closing Costs
$9,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,223

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $160,000
Loan Amount $480,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $2,467

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,430
1$2,4302$2,5003$2,6004$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1646 Redbud Place Pomona, CA 1
    • 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.59
    •  
  • 27 Sage Canyon Road Pomona, CA 2
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1982
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.59
    •  
  • 1161 Verona Place Pomona, CA 3
    • 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 1979
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.70
    •  
  • 46 Rising Hill Road Phillips Ranch, CA 4
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1980
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.59
    •  
  • 15 Silverwood Lane Pomona, CA 5
    • 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 1985
    property image
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.57
    •  
PROPERTY LISTING DETAILS
Michael Hayes
Monarch Investment Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21030280
Last Updated: 02/12/2021
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