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PROPERTY INFO
FACTS
- Single Family
- Built In 1981
- Price/Sqft : $321.68
- 3 Days on Market
- MLS # : TR21032852
- Updated Date : 02/19/2021 at 20:55
CONSTRUCTION
- Beds : 4
- Floor Size : 2,020 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Tri-counties R
Listing Agent's Description
Move in condition tri level home in beautiful Phillips Ranch. In the popular Hearthstone subdivision built by W&A Builders. The "Abilene" floorplan with 4 bedrooms and 2.75 bathrooms with one bedroom and bath on the first level. Mid level entry opens to vaulted ceilings in the living room off of the tile foyer. Tile extends through the dining area and kitchen. Sparkling kitchen with newer appliances, tile counter tops, and a porcelain sink. Gas cook top, dishwasher, microwave. The lower level comprises a family room with brick fireplace and sliding door to the back yard along with a 3/4 bath and bedroom. Direct access to the garage. Upper level comprises 3 bedrooms. The master is grand with vaulted ceilings and ceiling fan and a spacious view deck looking toward the mountains- accessed via French doors. Bathroom with twin vanities and stacked tile back splash. Oval tub and shower. Walk in closet. Linen storage in the hallway, hall bath with twin vanities. Large back yard with block walls and concrete patio slab for your barbecues and entertaining plans, sprinklered lawn for pets and/or kids. Award winning schools are shared with N. Diamond Bar. Enjoy strolls through nearby trails and the popular mile long greenbelt going through the ranch. Walk to nearby shopping- Target, Winco, Wal Mart, and many restaurants. Convenient to bus transportation. Excellent freeway access to the 71, 60, 57, 10, and 201.
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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)
- 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)
- 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]
- 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.
- 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)
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 | $2,490 |
| EXPENSES | Loan Payment | -$2,257 |
| Property Tax | -$716 | |
| Property Insurance | -$76 | |
| Property Management Fees | -$122 | |
|
CASH FLOW
-$681
|
||
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.
$649,800
PROJECTED PRICE
$2,490
PROJECTED RENT
0.38%
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
$177,947
LOAN DETAILS
$2,257
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $162,450 |
| Loan Amount | $487,350 |
1.17
YEARS SAVED
$3,342
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,490
LIST RENT -
$1.23
LIST RENT PER SQFT
-
$2,510
COMP ESTIMATED VALUE -
$1.24
COMP AVG. RENT PER SQFT
Comps Range
-
26 Deer Creek Road Phillips Ranch, CA 2
- 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 1981
- Rent
- Rent Per SQFT
- $2,490
- $1.23
-
34 N Slope Lane Phillips Ranch, CA 1
- 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1980
LEASED 08/19/20- Rent
- Rent Per SQFT
- $2,475
- $1.23
-
57 Hunter Point Rd Phillips Ranch, CA 3
- 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 1981
LEASED 03/16/20- Rent
- Rent Per SQFT
- $2,500
- $1.21
-
15 Viewpoint Circle Pomona, CA 4
- 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1979
LEASED 07/01/20- Rent
- Rent Per SQFT
- $2,550
- $1.20
-
10 Falcon Ridge Drive Phillips Ranch, CA 5
- 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 1985
LEASED 09/03/20- Rent
- Rent Per SQFT
- $2,600
- $1.33
PROPERTY LISTING DETAILS
Coldwell Banker Tri-counties R
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR21032852
Last Updated: 02/19/2021
