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1865 Saragossa Street Pomona, CA 91768

5 Beds 3 Baths 2,933 sqft Built 1991

$950,000

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $323.90
  • 35 Days on Market
  • MLS # : TR21001172
  • Updated Date : 02/01/2021 at 16:44
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,933 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Tri-counties R

Listing Agent's Description

Mountain Meadows city light, golf course, & mountain view home! A quiet and well kept gated community that is one of the hidden gems of Pomona and LA County. Sited next to the Mountain Meadows golf course & LA County Fairgrounds. Newly upgraded in and out with high end fixtures and materials- all within the last 2 years. 5 bedrooms and 2.5 bathrooms encompassing 2933 sf. on a 20,191 sf lot. Main level iron double door entry w/ vaulted ceilings & marble floored foyer. Formal dining & living rooms with vaulted ceilings, recessed lights, & custom chandeliers. Stunning kitchen with light gray cabinets, ss sink, stainless steel appliances, quartz counter tops, tiled back splash, beverage cooler, built in microwave, & gas cooktop. Main level master suite with marble floors and vaulted ceilings. Double doors to a private balcony w/ glorious views! Brand new bathroom with twin vanities, quartz counter tops, tiled walk in shower w/frameless enclosure, separate clawed tub. Main level laundry room and powder room. Downstairs are 4 bedrooms and an additional bathroom. A spacious family room w/ fireplace and dining area with built ins and a hidden storage room. Two sets of French sliding doors to the back covered patio area- brings the outdoors in! Solid covered patio with 2 new electric heaters, barbecue island and amazing views. The lot goes down to the street below. An opportunity for your own hillside garden. Front yard seating area too. A low maintenance estate!

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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
La Verne Science And Technology Charter School Primary Regular 233 11 4
Marshall Middle School Middle Regular 504 21 5
Ganesha High School High Regular 1,131 51 4

La Verne Science And Technology Charter School

  • Education Level: Primary
  • # of students: 233
  • # of teachers: 11
4
GreatSchools Rating

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
 

$855,000$1,045,000$950,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$3,300
Property Tax -$977
Property Insurance -$98
HOA -$291
Property Management Fees -$168
CASH FLOW
-$1,413

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.

$950,000

PROJECTED PRICE

$3,420

PROJECTED RENT

0.36%

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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,300

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,500
Loan Amount $712,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $3,490

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,420
$3,420
RENT COMPS ANALYSIS
  • 1865 Saragossa Street Pomona, CA 2
    • 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $1.17
    •  
  • 146 Fernpine Lane Pomona, CA 1
    • 4 beds 2 baths ∙ 2,614 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,614 Sqft ∙ Built 2005
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.19
    •  
PROPERTY LISTING DETAILS
Ty Courtney Wallace
Coldwell Banker Tri-counties R
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21001172
Last Updated: 02/01/2021
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