Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

565 E Alvarado Street Pomona, CA 91767

4 Beds 1 Baths 1,680 sqft Built 1921

$550,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1921
  • Price/Sqft : $327.38
  • 3 Days on Market
  • MLS # : PW20247282
  • Updated Date : 11/28/2020 at 16:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,680 sqft
  • Baths : 1 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Have you ever wanted to live in a home that feels like you are on the cover of Architectural Digest? Have you ever wanted to live in an Emmy Award Winners home? Well, now you can. Really? Yes. Make this dreamy, luxurious Craftsman Bungalow in the highly sought-after Lincoln Park Historic District yours. Open floorplan, upgrades galore, Wood maple engineered flooring, central air, newer plumbing and electric and an entertainer’s delight back yard you won’t want to leave. As a bonus, this home is on a block of street with a real artist vibe to it. Roof approximately 10 years old. Come see why this District is on the National Register of Historic Places in centrally located Pomona CA. You just have to come by and see what you can do to make this property yours and be a part of this upcoming city where Amazon was considering Pomona as there HQ2 in their national search or to see why film and TV industry use Pomona for filming. Convenient to Puddingstone Lake hiking and biking trails, and Brackett airport. Also near public transportation, downtown Transportation Hub, two Metrolink stations, four freeways, Cal Poly Pomona, the Claremont Colleges, Western University, ULV, Pomona’s award winning schools and Pomona Valley Trauma Center PLUS the Gold Line (Brain Train) is coming to Pomona!

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
San Antonio Elementary School Primary Regular 502 19 3
Emerson Middle School Middle Regular 618 25 2
Pomona Senior High School High Regular 1,286 59 2

San Antonio Elementary School

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 19
3
GreatSchools Rating

Emerson Middle School

  • Education Level: Middle
  • # of students: 618
  • # of teachers: 25
2
GreatSchools Rating

Pomona Senior High School

  • Education Level: High
  • # of students: 1,286
  • # of teachers: 59
2
GreatSchools Rating
 

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

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,029
Property Tax -$607
Property Insurance -$68
Property Management Fees -$118
CASH FLOW
-$421

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

$2,400

PROJECTED RENT

0.44%

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$1.8M

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$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 60% 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

2.5

YEARS SAVED

$12,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $2,593

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,4004$2,725
$2,725
RENT COMPS ANALYSIS
  • 565 E Alvarado Street Pomona, CA 3
    • 4 beds 1 baths ∙ 1,680 Sqft ∙ Built 1921 4 beds 1 baths ∙ 1,680 Sqft ∙ Built 1921
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.43
    •  
  • 265 Lincoln Avenue Pomona, CA 1
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1923
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.52
    •  
  • 559 Chester Place Pomona, CA 2
    • 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
    •  
  • 387 E Kingsley Avenue Pomona, CA 4
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 1908 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 1908
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $1.52
    •  
PROPERTY LISTING DETAILS
Frederick Van Allen
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20247282
Last Updated: 11/28/2020
BESbswy