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719 Fairfax Lane Pomona, CA 91766

4 Beds 2 Baths 1,836 sqft Built 1963

$529,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $288.13
  • 6 Days on Market
  • MLS # : WS20249211
  • Updated Date : 12/01/2020 at 11:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,836 sqft
  • Baths : 2 full
Listing Agent

Kim Long Realty

Listing Agent's Description

Lovely signle house locate in good location of City Pomona, 4 bedrooms, 2 Bathrooms, 1,836 sqft of living room space and 2-car attached garage, open floor plan kitchen, lovely front yard with palm trees, property convenient to everything Resturance, Market, Retail shopping, School, DMV

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
Alcott Elementary School Primary Regular 953 36 3
Simons Middle School Middle Regular 799 34 4
Garey Senior High School High Regular 1,819 76 3

Alcott Elementary School

  • Education Level: Primary
  • # of students: 953
  • # of teachers: 36
3
GreatSchools Rating

Simons Middle School

  • Education Level: Middle
  • # of students: 799
  • # of teachers: 34
4
GreatSchools Rating

Garey Senior High School

  • Education Level: High
  • # of students: 1,819
  • # of teachers: 76
3
GreatSchools Rating
 

$476,100$581,900$529,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,952
Property Tax -$584
Property Insurance -$71
Property Management Fees -$118
CASH FLOW
-$315

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.

$529,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.46%

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-$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$145,935

INVESTMENT

$145,935

Down Payment
$132,250
Rehab Estimate
$5,750
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$18,328

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,410

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4103$2,4504$2,4755$2,600
$2,600
RENT COMPS ANALYSIS
  • 719 Fairfax Lane Pomona, CA 2
    • 4 beds 2 baths ∙ 1,836 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,836 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $1.31
    •  
  • 2072 Munhall Avenue Pomona, CA 1
    • 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1970
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.32
    •  
  • 23 Redrock Lane Pomona, CA 3
    • 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 1979
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.46
    •  
  • 34 N Slope Lane Phillips Ranch, CA 4
    • 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1980
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.23
    •  
  • 12 Bluff Point Circle Phillips Ranch, CA 5
    • 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 1981
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.24
    •  
PROPERTY LISTING DETAILS
Thanh Nguyen
Kim Long Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20249211
Last Updated: 12/01/2020
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