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PROPERTY INFO
FACTS
- Single Family
- Built In 1969
- Price/Sqft : $324.67
- 3 Days on Market
- MLS # : P1-3314
- Updated Date : 02/12/2021 at 15:22
CONSTRUCTION
- Beds : 4
- Floor Size : 2,156 sqft
- Baths : 1 full
Listing Agent
Berkshire Hathaway Home Serv.
Listing Agent's Description
Located in one of Philips Ranch's most desirable original enclaves, this mid-century ranch has been updated with attention to detail. And, with extensive space for various living and entertaining scenarios, this residence has so much to offer. Boasting over 2,100 square feet, this home offers spacious gathering rooms; a sizeable formal living room, a refreshed kitchen with new appliances, and an oversized great room perfect for dining, entertaining, celebrating and relaxing for the entire household and more. Architectural features including two fireplaces, French doors, vaulted ceilings, clerestory windows and skylights add style and grace to these open concept spaces.Four bedrooms and three baths ensure that everyone will have their private space whether lounging in the Primary suite, working from home or even creating an environment ideal for multi-generational living.Recently upgraded with a new roof, new wood flooring, updated kitchen and baths, fresh paint, security system and so much more, this truly is ''everyone's home''.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pomona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,850 |
| EXPENSES | Loan Payment | -$2,431 |
| Property Tax | -$772 | |
| Property Insurance | -$79 | |
| Property Management Fees | -$140 | |
|
CASH FLOW
-$572
|
||
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.
$699,999
PROJECTED PRICE
$2,850
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$191,250
LOAN DETAILS
$2,431
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $175,000 |
| Loan Amount | $524,999 |
2.08
YEARS SAVED
$9,454
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,850
LIST RENT -
$1.32
LIST RENT PER SQFT
-
$3,045
COMP ESTIMATED VALUE -
$1.41
COMP AVG. RENT PER SQFT
Comps Range
-
1962 W Phillips Drive Pomona, CA 4
- 4 beds 1 baths ∙ 2,156 Sqft ∙ Built 1969 4 beds 1 baths ∙ 2,156 Sqft ∙ Built 1969
- Rent
- Rent Per SQFT
- $2,850
- $1.32
-
23909 Highland Valley Road Diamond Bar, CA 1
- 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 1968
LEASED 10/21/19- Rent
- Rent Per SQFT
- $2,700
- $1.34
-
1017 Twin Canyon Lane Diamond Bar, CA 2
- 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 1968
LEASED 02/02/20- Rent
- Rent Per SQFT
- $2,750
- $1.46
-
1107 Moonlight Summit Dr Diamond Bar, CA 3
- 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 1968
LEASED 05/16/20- Rent
- Rent Per SQFT
- $2,800
- $1.39
-
1263 Milano Place Phillips Ranch, CA 5
- 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
Berkshire Hathaway Home Serv.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: P1-3314
Last Updated: 02/12/2021
