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PROPERTY INFO
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.
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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 | $2,120 |
| 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
| 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
$151,500
LOAN DETAILS
$1,910
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
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
-
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
Century Executive Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21021283
Last Updated: 02/13/2021
