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PROPERTY INFO
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
* 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 | $2,870 |
| 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
| 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
$225,435
LOAN DETAILS
$2,879
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $207,250 |
| Loan Amount | $621,750 |
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
-
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
Allison James Estates & Homes
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21148036
Last Updated: 07/08/2021
