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PROPERTY INFO
FACTS
- Single Family
- Built In 1981
- Price/Sqft : $409.62
- 6 Days on Market
- MLS # : AR20252617
- Updated Date : 12/10/2020 at 17:08
CONSTRUCTION
- Beds : 4
- Floor Size : 1,560 sqft
- Baths : 2 full
Listing Agent
Irn Realty
Listing Agent's Description
Welcome to Phillips Ranch, which is one of the most sought-after residential communities in Pomona, California. With only a few properties listed. This lovely single family home offers a fantastic floor plan with 4 bedrooms and 2 Bathrooms, spacious living room with fireplace and dining room adjacent to kitchen, 1,560 sqft living area and 9,481 sqft lot size. Newly painted interior and exterior home. Master suite bedroom with sink, shower and walk in closet, enjoy the view of the beautiful backyard from your master bedroom. Generously sized backyard has endless opportunities for entertaining with large patio areas for your enjoyment with family and friends. Free and clear solar panel saving lots of electricity bill in summer. Attached oversize 2 cars garage with large storage room. Easy access to freeways , close to major shopping, dining areas, movie theaters, parks, dog park, Cal Poly University and Mount San Antonio junior college are all nearby. Don’t pass up this rare opportunity. Come by and see it for yourself!
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MARKET HIGHLIGHTS
- 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)
- 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]
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 | $2,470 |
| EXPENSES | Loan Payment | -$2,358 |
| Property Tax | -$704 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$121 | |
|
CASH FLOW
-$778
|
||
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.
$639,000
PROJECTED PRICE
$2,470
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
$175,085
LOAN DETAILS
$2,358
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $159,750 |
| Loan Amount | $479,250 |
0.75
YEARS SAVED
$2,373
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,470
LIST RENT -
$1.58
LIST RENT PER SQFT
-
$2,570
COMP ESTIMATED VALUE -
$1.65
COMP AVG. RENT PER SQFT
Comps Range
-
31 Canyon Rim Road Phillips Ranch, CA 1
- 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1981
![property image]()
- Rent
- Rent Per SQFT
- $2,470
- $1.58
-
27 Sage Canyon Road Pomona, CA 2
- 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1982
![property image]()
LEASED 12/02/20- Rent
- Rent Per SQFT
- $2,500
- $1.59
-
1161 Verona Place Pomona, CA 3
- 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 1979
![property image]()
LEASED 06/24/20- Rent
- Rent Per SQFT
- $2,600
- $1.70
-
46 Rising Hill Road Phillips Ranch, CA 4
- 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1980
![property image]()
LEASED 09/29/20- Rent
- Rent Per SQFT
- $2,600
- $1.59
-
7 Redrock Lane Phillips Ranch, CA 5
- 4 beds 3 baths ∙ 1,520 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,520 Sqft ∙ Built 1979
![property image]()
LEASED 07/06/19- Rent
- Rent Per SQFT
- $2,600
- $1.71
PROPERTY LISTING DETAILS
Irn Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: AR20252617
Last Updated: 12/10/2020
