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368 Adobe Lane Pomona, CA 91767

4 Beds 3 Baths 1,725 sqft Built 2004

$438,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $253.91
  • 5 Days on Market
  • MLS # : TR21003216
  • Updated Date : 01/09/2021 at 14:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,725 sqft
  • Baths : 3 full
Listing Agent

Re/max Universal Realty

Listing Agent's Description

**MUST SEE **Heart of city of POMONA Gated beautiful community only has 26 single family like detached homes. This cozy house located in cul-de-sac of the community only step away from community park with kids play ground. Open floor plan with attached 2-car garage, 4 bedrooms with 2 full bathrooms upstairs, the master bedroom is very spacious with large walk-in closet and separate shower and bathtub. and additional half bath in first floor. There is a decent size balcony and ton of windows with airy bright sun light. Close to Pomona Medical Center, Western University, Cal Poly Pomona, Pomona college, and Mt Sac. Also conveniently located near shopping centers, and freeway access. WONT LAST!

SEE MORE

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
Lincoln Elementary School Primary Regular 412 18 3
Lincoln Elementary School Middle Regular 412 18 3
Pomona Senior High School High Regular 1,286 59 2

Lincoln Elementary School

  • Education Level: Primary
  • # of students: 412
  • # of teachers: 18
3
GreatSchools Rating

Lincoln Elementary School

  • Education Level: Middle
  • # of students: 412
  • # of teachers: 18
3
GreatSchools Rating

Pomona Senior High School

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

$394,200$481,800$438,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,521
Property Tax -$497
Property Insurance -$69
HOA -$185
Property Management Fees -$121
CASH FLOW
$67

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.

$438,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.56%

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,820

INVESTMENT

$121,820

Down Payment
$109,500
Rehab Estimate
$5,750
Closing Costs
$6,570

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,500
Loan Amount $328,500
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$39,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $2,437

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4003$2,4604$2,5755$2,600
$2,600
RENT COMPS ANALYSIS
  • 368 Adobe Lane Pomona, CA 3
    • 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.43
    •  
  • 388 Adobe Lane Pomona, CA 1
    • 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 2004
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.39
    •  
  • 1352 Joshua Lane Pomona, CA 2
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1985
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.55
    •  
  • 1354 S Towne Avenue Pomona, CA 4
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 2007
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $1.30
    •  
  • 1166 E Grand Ave Pomona, CA 5
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2008
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.41
    •  
PROPERTY LISTING DETAILS
Na Shao
Re/max Universal Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21003216
Last Updated: 01/09/2021
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