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677 N Mountain View Avenue Pomona, CA 91767

3 Beds 2 Baths 1,356 sqft Built 1950

$535,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $394.54
  • 3 Days on Market
  • MLS # : 21687144
  • Updated Date : 01/29/2021 at 18:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,356 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful 1950s traditional style home in move-in condition with great curb appeal and gorgeous view of the mountains! Recently fully remodeled kitchen with quartz countertops, large farmhouse sink, custom cabinets, and new appliances. Home features wood floors throughout, large dual-pane windows throughout making the home bright and energy efficient, central a/c, and a stone-faced fireplace in living room. The master bedroom is a huge 22'x14' with a walk-in closet, area for an office set-up, master bath with tub and shower, recessed lighting, and French doors leading out to the backyard. The two other bedrooms are also a good size and the second bathroom has tub and shower as well. Large yard with a 2-car detached garage, long driveway that fits an RV and several cars, lots of grass front and back with room still for a garden or other outdoor hobby!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$481,500$588,500$535,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,858
Property Tax -$590
Property Insurance -$60
Property Management Fees -$116
CASH FLOW
-$264

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.

$535,000

PROJECTED PRICE

$2,360

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-$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$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$17,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $2,136

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,3504$2,3605$2,495
$2,495
RENT COMPS ANALYSIS
  • 677 N Mountain View Avenue Pomona, CA 4
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.74
    •  
  • 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
    •  
  • 825 S Reservoir Street Pomona, CA 2
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1930
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.64
    •  
  • 1931 Wildrose Avenue Pomona, CA 3
    • 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
    •  
  • 1114 Ringe Court Pomona, CA 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1963
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.56
    •  
PROPERTY LISTING DETAILS
Esmeralda Castaneda
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21687144
Last Updated: 01/29/2021
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