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3306 Mural Drive Pomona, CA 91767

3 Beds 2 Baths 1,188 sqft Built 1958

$490,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $412.46
  • 7 Days on Market
  • MLS # : DW20221749
  • Updated Date : 10/30/2020 at 07:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,188 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Sela

Listing Agent's Description

Amazing Pomona home! This wonderful home is 1,188 sqft, that offers 3 bedroom & 2 bathrooms. This is corner home with a nice layout in GREAT AREA of North Pomona bordering Claremont & La Verne with access to Claremont School District. Home features fresh interior paint through most of the home, 2 car detached garage with a shed for extra storage space, updated tile flooring, custom plantation shutters, central heat and air conditioning and recessed lighting. Kitchen was upgraded a couple of years ago with new custom kitchen cabinetry, granite countertops and nice backsplash. The backyard has a covered patio and made to entertain! .This HOME is a MUST SEE! This one will GO FAST!

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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

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
Sumner Elementary School Primary Regular 541 21 5
El Roble Intermediate School Middle Regular 1,068 43 7
Claremont High School High Regular 2,423 92 9

Sumner Elementary School

  • Education Level: Primary
  • # of students: 541
  • # of teachers: 21
5
GreatSchools Rating

El Roble Intermediate School

  • Education Level: Middle
  • # of students: 1,068
  • # of teachers: 43
7
GreatSchools Rating

Claremont High School

  • Education Level: High
  • # of students: 2,423
  • # of teachers: 92
9
GreatSchools Rating
 

$441,000$539,000$490,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,808
Property Tax -$504
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$497

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.

$490,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.40%

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$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,942

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $1,957

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,970
1$1,9702$2,0003$2,2004$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3306 Mural Drive Pomona, CA 1
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.66
    •  
  • 735 Edwin Avenue Pomona, CA 2
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1961
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.58
    •  
  • 303 Carleton Avenue Claremont, CA 3
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1952
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.71
    •  
  • 631 Harvard Avenue Claremont, CA 4
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1964
    property image
    LEASED 09/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.61
    •  
  • 2925 Glencrest Street Pomona, CA 5
    • 3 beds 1 baths ∙ 1,364 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,364 Sqft ∙ Built 1956
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.69
    •  
PROPERTY LISTING DETAILS
John Botello
Keller Williams Sela
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20221749
Last Updated: 10/30/2020
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