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PROPERTY INFO
FACTS
- Single Family
- Built In 1920
- Price/Sqft : $372.24
- 7 Days on Market
- MLS # : CV20261212
- Updated Date : 12/22/2020 at 10:04
CONSTRUCTION
- Beds : 3
- Floor Size : 1,448 sqft
- Baths : 1 full
Listing Agent
K.w. Executive
Listing Agent's Description
Welcome to Historic Lincoln Park! This home is located in the best neighborhood of Pomona where owners rarely sell. This Craftsman and neighborhood features a real old town feel and has something for everyone. Centrally located near downtown, public transportation, parks, nature trails, major freeways, restaurants and bars. Enjoy those beautiful nights out on the town at the local restaurants and bars in downtown, hop on the Metrolink and soon to come Metro Gold Line for those who commute. Spend family time at the nearby Lincoln Park that's minutes within walking distance or take a short drive to Puddingstone Lake where the family can enjoy hiking and biking. There are plenty of renowned colleges nearby such as Western Univ., Cal Poly Pomona, Claremont Colleges, and Univ. of La Verne for the scholars in the house. A perfect home goes with a perfect neighborhood. Come check out the interior and you'll fall in love with recent upgrades to the kitchen, bathroom, floors, new paint, water heater, laundry room and your very own pergola. Also comes with the perfect office space for work from home. From the beautiful wood floors throughout, quartz kitchen countertop to the cast iron bath tub, this home has it all. There are plenty of storage space and a walk-in pantry for all your necessities. The breakfast nook is absolutely adoring. Like to entertain? Check out this beautiful back yard set up perfectly for small to large gatherings. Whatever you do, do not miss this opportunity!
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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 | $2,350 |
| EXPENSES | Loan Payment | -$1,989 |
| Property Tax | -$595 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$115 | |
|
CASH FLOW
-$410
|
||
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.
$539,000
PROJECTED PRICE
$2,350
PROJECTED RENT
0.44%
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
$148,585
LOAN DETAILS
$1,989
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $134,750 |
| Loan Amount | $404,250 |
2.5
YEARS SAVED
$12,324
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,350
LIST RENT -
$1.62
LIST RENT PER SQFT
-
$2,360
COMP ESTIMATED VALUE -
$1.63
COMP AVG. RENT PER SQFT
Comps Range
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380 E Kingsley Avenue Pomona, CA 4
- 3 beds 1 baths ∙ 1,448 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,448 Sqft ∙ Built 1920
- Rent
- Rent Per SQFT
- $2,350
- $1.62
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380 Kenoak Drive Pomona, CA 1
- 3 beds 1 baths ∙ 1,354 Sqft ∙ Built 1913 3 beds 1 baths ∙ 1,354 Sqft ∙ Built 1913
LEASED 12/23/19- Rent
- Rent Per SQFT
- $2,250
- $1.66
-
825 S Reservoir Street Pomona, CA 2
- 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1930
LEASED 05/23/20- Rent
- Rent Per SQFT
- $2,250
- $1.64
-
559 Chester Place Pomona, CA 3
- 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1940
LEASED 07/21/19- Rent
- Rent Per SQFT
- $2,300
- $1.59
PROPERTY LISTING DETAILS
K.w. Executive
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20261212
Last Updated: 12/22/2020
