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234 Freda Avenue Pomona, CA 91767

3 Beds 2 Baths 1,313 sqft Built 1957

$579,900

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $441.66
  • 3 Days on Market
  • MLS # : CV21048344
  • Updated Date : 03/12/2021 at 20:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,313 sqft
  • Baths : 2 full
Listing Agent

Ehomes

Listing Agent's Description

Incredible North Pomona Home! This magnificent home sits on a tree-lined street and it’s just what you’ve been looking for! A nod to the mid-century influence, an A frame porch accentuates the porch roofline. The brick border and planter also add a nice touch. The driveway is massive! It will easily accommodate an R/V, several cars and there is a gated section as well. The family room boasts laminate flooring, a wood-burning fireplace and flows nicely into the spacious dining area. The kitchen features tile flooring, granite countertops & backsplash and updated cabinets. Just off the kitchen, there’s a private laundry room. The hallway bath has a newer vanity along with a tile shower & tub combo. The master suite has direct access to a remodeled bathroom! The master bath has been completely remodeled with new vinyl flooring, new vanity & a shower. The backyard has tons of space! There’s a nice grass area and an above-ground pool behind the garage. The garage is also finished and has pull-down stairs to access additional storage above! Are you still commuting into LA for work? Not a problem! The Metro station is just around the corner! You'll love being so close to all of the restaurants in the quaint downtown area of La Verne, Old Stump Brewery, The Village in Claremont, The Claremont Loop as well as the Claremont Colleges! There’s nothing like this currently available in the immediate area! Be sure to set an appointment today before it’s to late!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)
  • 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)

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
Pomona Senior High School High Regular 1,286 59 2
Pomona High School High Unknown NA

Pomona Senior High School

  • Education Level: High
  • # of students: 1,286
  • # of teachers: 59
2
GreatSchools Rating

Pomona High School

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

$521,910$637,890$579,900

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$2,014
Property Tax -$640
Property Insurance -$59
Property Management Fees -$111
CASH FLOW
-$554

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.

$579,900

PROJECTED PRICE

$2,270

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$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$159,424

INVESTMENT

$159,424

Down Payment
$144,975
Rehab Estimate
$5,750
Closing Costs
$8,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,014

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,975
Loan Amount $434,925
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,540

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $1.73

    LIST RENT PER SQFT
  • $2,055

    COMP ESTIMATED VALUE
  • $1.57

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,2704$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 234 Freda Avenue Pomona, CA 3
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $1.73
    •  
  • 1087 Terryview Avenue Pomona, CA 1
    • 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.58
    •  
  • 2018 Las Vegas Avenue Pomona, CA 2
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1963
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.50
    •  
  • 1931 Wildrose Avenue Pomona, CA 4
    • 3 beds 1 baths ∙ 1,551 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,551 Sqft ∙ Built 1954
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.52
    •  
  • 227 Marywood Avenue Claremont, CA 5
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1964
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.66
    •  
PROPERTY LISTING DETAILS
Christopher Cervantez
Ehomes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21048344
Last Updated: 03/12/2021
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