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2173 Arroyo Drive Pomona, CA 91768

3 Beds 1 Baths 1,284 sqft Built 1952

$550,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $428.35
  • 2 Days on Market
  • MLS # : CV21021283
  • Updated Date : 02/13/2021 at 20:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,284 sqft
  • Baths : 1 full
Listing Agent

Century Executive Realty

Listing Agent's Description

Welcome to this fully upgraded, turn-key, move-in ready home. This property has been upgraded from top to bottom for your enjoyment. The seller's have put in new flooring, new kitchen cabinets, quartz counter-tops, stainless steel appliances, recessed lighting throughout the house, paint inside and out. New bathrooms for both the master bedroom and guest bathroom have been upgraded with top of the line Italian and Turkish tile. New windows have been installed for your enjoyment. There are too many upgrades to list.

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
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
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,910
Property Tax -$607
Property Insurance -$58
Property Management Fees -$104
CASH FLOW
-$559

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.

$550,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.39%

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,320

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $2,176

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0903$2,1204$2,2755$2,400
$2,400
RENT COMPS ANALYSIS
  • 2173 Arroyo Drive Pomona, CA 3
    • 3 beds 1 baths ∙ 1,284 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,284 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.65
    •  
  • 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
    •  
  • 1846 Denison Street Pomona, CA 5
    • 3 beds 1 baths ∙ 1,434 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,434 Sqft ∙ Built 1950
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.67
    •  
PROPERTY LISTING DETAILS
Joseph Domond
Century Executive Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21021283
Last Updated: 02/13/2021
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