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4 Rainbow Ridge Road Pomona, CA 91766

4 Beds 3 Baths 1,984 sqft Built 1980

$650,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $327.62
  • 2 Days on Market
  • MLS # : MB20260472
  • Updated Date : 12/19/2020 at 17:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,984 sqft
  • Baths : 3 full
Listing Agent

Century 21 Realty Masters

Listing Agent's Description

AMAZING TURKNEY HOME IN HIGHLY DESIRABLE PHILLIPS RANCH NEIGHBORHOOD!!! THIS 4 BEDROOM 3 BATHROOM HOME HAS A BEAUTIFUL WELCOMING. MASTER BEDROOM UPSTAIRS WITH A BALCONY TO ENJOY YOUR NEIGHBORHOOD VIEW! TWO STORY HOME SITS IN THE HEART OF POMONA NEAR CAL POLY, MOUNT SAC and JUST A FEW MILES AWAY FROM FAIRPLEX PLAYGROUNDS.THIS TWO STORY PROPERTY SITS NEAR SHOPPING CENTER 57, 71 & 60 FREEWAY!! MUST SEE!!

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
Decker Elementary School Primary Regular 528 21 4
Lorbeer Middle School Middle Regular 754 29 6
Diamond Ranch High School High Regular 1,791 70 7

Decker Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 21
4
GreatSchools Rating

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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,398
Property Tax -$728
Property Insurance -$75
Property Management Fees -$135
CASH FLOW
-$586

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.

$650,000

PROJECTED PRICE

$2,750

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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$9,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $2,495

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,475
1$2,4752$2,5503$2,6004$2,6505$2,750
$2,750
RENT COMPS ANALYSIS
  • 4 Rainbow Ridge Road Pomona, CA 5
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.39
    •  
  • 34 N Slope Lane Phillips Ranch, CA 1
    • 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1980
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.23
    •  
  • 15 Viewpoint Circle Pomona, CA 2
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1979
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.20
    •  
  • 10 Falcon Ridge Drive Phillips Ranch, CA 3
    • 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 1985
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.33
    •  
  • 49 Stagecoach Drive Phillips Ranch, CA 4
    • 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 1980
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.27
    •  
PROPERTY LISTING DETAILS
Jasmine Garcia
Century 21 Realty Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: MB20260472
Last Updated: 12/19/2020
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