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39 Edgebrook Drive Pomona, CA 91766

3 Beds 3 Baths 1,926 sqft Built 1981

$829,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $430.43
  • 6 Days on Market
  • MLS # : OC21148036
  • Updated Date : 07/08/2021 at 21:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,926 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allison James Estates & Homes

Listing Agent's Description

Come see this charming 3-bedroom, 2.5 bath corner lot home located within the prestigious community of Phillips Ranch. This property boasts a large main floor office, perfect for working from home, with plenty of natural light and French doors that open to the newly landscaped backyard (Main floor office could easily be converted to a 4th bedroom). The upgraded kitchen, which is perfect for entertaining, opens into your formal dining room with fireplace. The upgraded kitchen includes granite countertops, an island, recessed LED lighting, and new hardware. As you enter the home you are welcomed into a light and bright living room, with vaulted ceilings, and French doors leading to the covered patio. The upstairs master suite has a brick fireplace, built in bookshelf, makeup vanity, and a large deck with excellent views. The house has ceiling fans in all the rooms, central air, and central heating, and has upgraded dual pane windows throughout.

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MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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

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
Lorbeer Middle School Middle Regular 754 29 6
Diamond Ranch High School High Regular 1,791 70 7
Lorbeer Middle School Middle Unknown NA

Lorbeer Middle School

  • Education Level: Middle
  • # of students: 754
  • # of teachers: 29
6
GreatSchools Rating

Diamond Ranch High School

  • Education Level: High
  • # of students: 1,791
  • # of teachers: 70
7
GreatSchools Rating

Lorbeer Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$746,100$911,900$829,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,879
Property Tax -$929
Property Insurance -$74
Property Management Fees -$141
CASH FLOW
-$1,152

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.

$829,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.35%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,435

INVESTMENT

$225,435

Down Payment
$207,250
Rehab Estimate
$5,750
Closing Costs
$12,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,879

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $207,250
Loan Amount $621,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $2,894

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8003$2,8704$2,9005$2,950
$2,950
RENT COMPS ANALYSIS
  • 39 Edgebrook Drive Pomona, CA 3
    • 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $1.49
    •  
  • 1 Rolling Hills Drive Phillips Ranch, CA 1
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1979
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.49
    •  
  • 11 Quail Summit Circle Phillips Ranch, CA 2
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1980
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.54
    •  
  • 28 Falcon Ridge Drive Phillips Ranch, CA 4
    • 4 beds 3 baths ∙ 1,941 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,941 Sqft ∙ Built 1983
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.49
    •  
  • 9 Skyline Lane Phillips Ranch, CA 5
    • 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 1981
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.49
    •  
PROPERTY LISTING DETAILS
Brittany Degrassi
Allison James Estates & Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21148036
Last Updated: 07/08/2021
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