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526 Tasman Avenue Pomona, CA 91767

3 Beds 2 Baths 1,515 sqft Built 1962

$550,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $363.04
  • 4 Days on Market
  • MLS # : IG20228134
  • Updated Date : 10/31/2020 at 17:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,515 sqft
  • Baths : 2 full
Listing Agent

Johnnie Will Stephens, Broker

Listing Agent's Description

This is a 3 bedroom 2 bath single story home with a bonus room off the family room that’s located on a quiet street in the city of Pomona. The front yard is spacious with a well kept lawn. The living room is has a fireplace and is spacious for entertaining friends and family. The kitchen is functional with a view into the family room for entertainment. The laundry room is located off the kitchen and is fully functional. There is a detached 2 car garage located in the rear of the property. This home is located near shopping centers, restaurants, and schools.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$2,029
Property Tax -$607
Property Insurance -$64
Property Management Fees -$104
CASH FLOW
-$674

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.

$550,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.39%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,878

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $2,303

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1304$2,2005$2,350
$2,350
RENT COMPS ANALYSIS
  • 526 Tasman Avenue Pomona, CA 3
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.41
    •  
  • 1087 Terryview Avenue Pomona, CA 1
    • 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.58
    •  
  • 2018 Las Vegas Avenue Pomona, CA 2
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1963
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.50
    •  
  • 458 Geneva Claremont, CA 4
    • 3 beds 1 baths ∙ 1,489 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,489 Sqft ∙ Built 1952
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.48
    •  
  • 1931 Wildrose Avenue Pomona, CA 5
    • 3 beds 1 baths ∙ 1,551 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,551 Sqft ∙ Built 1954
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.52
    •  
PROPERTY LISTING DETAILS
Johnnie Stephens
Johnnie Will Stephens, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20228134
Last Updated: 10/31/2020
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