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371 Cindy Court Pomona, CA 91767

4 Beds 3 Baths 2,000 sqft Built 1960

$625,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $312.50
  • 3 Days on Market
  • MLS # : CV20244297
  • Updated Date : 11/20/2020 at 21:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 3 full
Listing Agent

Victorian Realty

Listing Agent's Description

Nice home with 4-beds & 3-baths and 2000-ft of living space. Upgraded kitchen cabinets, open floor plan, large family room, swimming pool and cul-de-sac. Some fruit trees line the north side of home, with clean front yard, stacked stone facade, double-door entry, A/C Unit, attached garage and driveway parking. Close to schools, shopping and freeway access. This home features 3-beds on north side and separate master bedroom on south side; great for IN-LAW living, nanny or guests.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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
San Jose Elementary School Primary Regular 525 21 4
Palomares Academy Middle Regular 476 24 4
Palomares Academy High Regular 476 24 4

San Jose Elementary School

  • Education Level: Primary
  • # of students: 525
  • # of teachers: 21
4
GreatSchools Rating

Palomares Academy

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 24
4
GreatSchools Rating

Palomares Academy

  • Education Level: High
  • # of students: 476
  • # of teachers: 24
4
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,306
Property Tax -$689
Property Insurance -$75
Property Management Fees -$130
CASH FLOW
-$551

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.

$625,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.42%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,026

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,633

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,6504$2,650
$2,650
RENT COMPS ANALYSIS
  • 371 Cindy Court Pomona, CA 4
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.33
    •  
  • 1340 Hillcrest Drive Pomona, CA 1
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1946
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.32
    •  
  • 2145 Victoria Way Pomona, CA 2
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1967
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.36
    •  
  • 942 Barbara Lane Pomona, CA 3
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1962 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1962
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.27
    •  
PROPERTY LISTING DETAILS
Octavio De Anda
Victorian Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20244297
Last Updated: 11/20/2020
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