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2120 Arroyo Drive Pomona, CA 91768

3 Beds 2 Baths 1,284 sqft Built 1952

$564,990

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $440.02
  • 2 Days on Market
  • MLS # : CV21044186
  • Updated Date : 03/06/2021 at 14:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,284 sqft
  • Baths : 2 full
Listing Agent

Balswick Realty

Listing Agent's Description

Move-in ready! Must see this beautiful 3-bedroom 2 bathroom home to appreciate all the upgrades. Recently remodeled with complete permits on file. Detached 2 car garage and electric vehicle ready! Updated kitchens, bathrooms, recessed lighting, Milgard windows, and more! The backyard is spacious and producing fruit trees. Must see this beautiful home.

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)
  • 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)
  • 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)

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
Marshall Middle School Middle Regular 504 21 5
Ganesha High School High Regular 1,131 51 4
Marshall Middle School Middle Unknown NA

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

Marshall Middle School

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

$508,491$621,489$564,990

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,962
Property Tax -$623
Property Insurance -$58
Property Management Fees -$105
CASH FLOW
-$599

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.

$564,990

PROJECTED PRICE

$2,150

PROJECTED RENT

0.38%

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

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$155,472

INVESTMENT

$155,472

Down Payment
$141,248
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,248
Loan Amount $423,743
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,694

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $2,189

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0903$2,1504$2,2755$2,500
$2,500
RENT COMPS ANALYSIS
  • 2120 Arroyo Drive Pomona, CA 3
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.67
    •  
  • 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
    •  
  • 2160 Avalon Avenue Pomona, CA 2
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1955
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.74
    •  
  • 1379 Glen Ave Avenue Pomona, CA 4
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1964
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.63
    •  
  • 1726 W 9th Street Pomona, CA 5
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1947
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.71
    •  
PROPERTY LISTING DETAILS
Joel Balswick
Balswick Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21044186
Last Updated: 03/06/2021
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