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1665 Blue Ridge Drive Pomona, CA 91766

4 Beds 2 Baths 1,530 sqft Built 1978

$598,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $390.85
  • 3 Days on Market
  • MLS # : CV21039806
  • Updated Date : 02/26/2021 at 12:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,530 sqft
  • Baths : 2 full
Listing Agent

Homequest Real Estate

Listing Agent's Description

Fabulous, turn-key and move-in ready single-story home with 4 bedrooms and 2 bathrooms in the sought area of Westmont also known as the original Phillips Ranch, it sits on a quiet street.The home features an attached two car garage and a manicure front yard with a built-in basketball hoop. Home also features a custom gate for extra parking and/or room to park your RV. As you enter the home, you are greeted by the open spacious family room with large windows that lets in lots of natural light, from the meticulous curb appeal and newly exterior paint, you will immediately fall in love with this home. With views of the hills right from the front door, upgrades, central AC/ heat, and large back yard.The living room features, recess lighting throughout, huge sliding doors providing access to a large backyard.The upgraded kitchen features cabinets that go up to the ceiling, stainless steel appliances, custom backsplash, and quartz countertops. Master bedroom features a large closet with mirrored doors, tile floors, ceiling fan and is accentuated by an adjoining bathroom. Down the hall, you will find the second bathroom with the same gorgeous flooring and countertop. All bedrooms are spacious and include ceiling fans. The backyard has lots of space and is highlighted by fruit trees and a Gazebo. This home is situated perfectly between 71,60 and 10FWY with an amazing school district. THIS HOME WILL NOT LAST… must see it for yourself so you can appreciate the pride of home ownership.

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
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
 

$538,200$657,800$598,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,077
Property Tax -$660
Property Insurance -$64
Property Management Fees -$117
CASH FLOW
-$528

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.

$598,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.40%

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$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,220

INVESTMENT

$164,220

Down Payment
$149,500
Rehab Estimate
$5,750
Closing Costs
$8,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,500
Loan Amount $448,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $2,467

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,5003$2,6004$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1665 Blue Ridge Drive Pomona, CA 1
    • 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.56
    •  
  • 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
    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
    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
    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
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.57
    •  
PROPERTY LISTING DETAILS
Rosalind Encarnacion
Homequest Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21039806
Last Updated: 02/26/2021
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