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1801 Carolann Street Pomona, CA 91766

3 Beds 3 Baths 1,445 sqft Built 1991

$500,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $346.02
  • 4 Days on Market
  • MLS # : PW21017620
  • Updated Date : 01/30/2021 at 10:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,445 sqft
  • Baths : 3 full
Listing Agent

Kase Real Estate

Listing Agent's Description

Come take a look at this beautiful and well-kept home situated in the Lexington Manor Community. As you drive into the gated neighborhood you can’t help but notice the home located on a peaceful cul-de-sac. This home features 3 bedrooms and 2.5 bathrooms boasting 1445 sqft of functional living space on a premium 4,732 sqft lot. Walking into the home you are greeted with a living room that will be excellent for entertaining and holiday gatherings. As you enter and look up you notice the vaulted ceilings, pristine fireplace, and the abundance of natural light coming in from the surrounding windows. Upstairs features 3 bedrooms and 2 bathrooms with a comfortable Master Bed and Bathroom. The Master Bedroom has amazing wide windows, dual vanities, and a walk-in closet. This property has low HOA, extra parking spaces, and a newly installed HVAC unit. Conveniently located near the 60 freeway perfect for commuters.

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
Simons Middle School Middle Regular 799 34 4
Garey Senior High School High Regular 1,819 76 3
Simons Middle School Middle Unknown NA

Simons Middle School

  • Education Level: Middle
  • # of students: 799
  • # of teachers: 34
4
GreatSchools Rating

Garey Senior High School

  • Education Level: High
  • # of students: 1,819
  • # of teachers: 76
3
GreatSchools Rating

Simons Middle School

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

$450,000$550,000$500,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,737
Property Tax -$518
Property Insurance -$62
HOA -$105
Property Management Fees -$99
CASH FLOW
-$501

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.

$500,000

PROJECTED PRICE

$2,020

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,996

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,225

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,020
1$2,0202$2,3503$2,5504$2,6005$2,658
$2,658
RENT COMPS ANALYSIS
  • 1801 Carolann Street Pomona, CA 1
    • 3 beds 3 baths ∙ 1,445 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,445 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.40
    •  
  • 145 Brookmont Lane Pomona, CA 2
    • 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 1995
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.58
    •  
  • 1080 Verbena Court Pomona, CA 3
    • 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 1997
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.52
    •  
  • 147 Ashbrook Lane Pomona, CA 4
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1995
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.52
    •  
  • 1081 S Reservoir Street Pomona, CA 5
    • 4 beds 3 baths ∙ 1,731 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,731 Sqft ∙ Built 2008
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,658
    • $1.54
    •  
PROPERTY LISTING DETAILS
Bryan Van Zee
Kase Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21017620
Last Updated: 01/30/2021
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