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1648 El Camino Street Pomona, CA 91768

3 Beds 3 Baths 1,911 sqft Built 1986

$599,999

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $313.97
  • 6 Days on Market
  • MLS # : CV21017311
  • Updated Date : 01/29/2021 at 15:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,911 sqft
  • Baths : 3 full
Listing Agent

Realty One Group Masters

Listing Agent's Description

WELCOME TO THE BEAUTIFUL GATED COMMUNITY OF MOUNTAIN MEADOWS. This property is 3 Bedroom 3 Bath with the Master Bedroom and Master Bath Downstairs which contains wood french doors which leads to a serene patio and courtyard in the backyard. Very quiet and peaceful, this community is very well maintained when it comes to the streets, sidewalks and landscaping. Perfectly located close to major freeways and local colleges yet still nestled in perfectly into the hills.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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
Marshall Middle School Middle Regular 504 21 5
Ganesha High School High Regular 1,131 51 4
Marshall Middle School Middle Unknown NA

Marshall Middle School

  • Education Level: Middle
  • # of students: 504
  • # of teachers: 21
5
GreatSchools Rating

Ganesha High School

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

Marshall Middle School

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

$539,999$659,999$599,999

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,084
Property Tax -$617
Property Insurance -$73
HOA -$259
Property Management Fees -$126
CASH FLOW
-$580

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.

$599,999

PROJECTED PRICE

$2,580

PROJECTED RENT

0.43%

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$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $2,720

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,580
1$2,5802$2,7003$2,8504$3,000
$3,000
RENT COMPS ANALYSIS
  • 1648 El Camino Street Pomona, CA 1
    • 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $1.35
    •  
  • 214 Calle Moreno San Dimas, CA 2
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1995
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.40
    •  
  • 2317 Bonita Avenue La Verne, CA 3
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1988
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.41
    •  
  • 1263 Milano Place Phillips Ranch, CA 4
    • 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1969
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.46
    •  
PROPERTY LISTING DETAILS
David Cazares
Realty One Group Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21017311
Last Updated: 01/29/2021
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