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1721 Aralia Drive Pomona, CA 91766

3 Beds 1 Baths 1,081 sqft Built 1954

$469,999

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $434.78
  • 3 Days on Market
  • MLS # : CV20225700
  • Updated Date : 11/01/2020 at 08:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,081 sqft
  • Baths : 1 full
Listing Agent

Re/max Top Producers

Listing Agent's Description

Welcome to this pool home located in Pomona. This well-maintained 3-bedroom, 1 bath is the ideal home for a growing family. It is filled with upgrades and pride of ownership. The kitchen was recently upgraded: quartz countertops, stainless steel appliances, and spacious cabinets. Updated kitchen with dark brown cabinets, quartz countertops, and stainless steel appliances. All bedrooms have laminate wood flooring with tile flooring throughout the home. Energy-efficient home with dual pane windows and ductless A/C system that is individually operated throughout the house. Fit up to six cars in the spacious driveway. The roof was replaced 7 years ago. Plenty of Front and Back Yard Space for all of the Family to Enjoy along with the pool! Conveniently located near the 71 HWY and new shopping centers. Minutes away from the Pomona Fairplex and Cal-Poly.

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
Lexington Elementary School Primary Regular 650 29 6
Lexington Elementary School Middle Regular 650 29 6
Fremont Academy High Regular 851 38 4

Lexington Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 29
6
GreatSchools Rating

Lexington Elementary School

  • Education Level: Middle
  • # of students: 650
  • # of teachers: 29
6
GreatSchools Rating

Fremont Academy

  • Education Level: High
  • # of students: 851
  • # of teachers: 38
4
GreatSchools Rating
 

$422,999$516,999$469,999

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,734
Property Tax -$518
Property Insurance -$53
Property Management Fees -$101
CASH FLOW
-$347

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.

$469,999

PROJECTED PRICE

$2,060

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,499
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$11,389

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $1,740

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$2,0504$2,060
$2,060
RENT COMPS ANALYSIS
  • 1721 Aralia Drive Pomona, CA 4
    • 3 beds 1 baths ∙ 1,081 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,081 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.91
    •  
  • 1942 Denison Street Pomona, CA 1
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1952
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.74
    •  
  • 1624 Jess Street Pomona, CA 2
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1947
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.55
    •  
  • 1790 Calatina Drive Pomona, CA 3
    • 3 beds 1 baths ∙ 1,328 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,328 Sqft ∙ Built 1954
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.54
    •  
PROPERTY LISTING DETAILS
Paul Fernandez
Re/max Top Producers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20225700
Last Updated: 11/01/2020
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