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731 W Lexington Avenue Pomona, CA 91766

3 Beds 1 Baths 936 sqft Built 1957

$475,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $507.48
  • 2 Days on Market
  • MLS # : CV21010210
  • Updated Date : 01/16/2021 at 11:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 936 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Covina

Listing Agent's Description

True pride of ownership in full display!! Owner has made numerous upgrades, including upgraded kitchen, upgraded bathroom, new flooring, front yard landscaping and more!! This single story home sits on a Large corner lot, has three bedrooms, one bathroom and a Bonus Room, two sheds and Eco friendly turf in the front yard that will save you time and money. See pictures and video for more details and make your appointment to see this home today, showings will be held Sunday, Jan. 17, Monday, Jan. 18 and Tuesday, Jan. 19 from 11-4PM.

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
Lexington Elementary School Primary Regular 650 29 6
Lexington Elementary School Middle Regular 650 29 6
Fremont Academy High Regular 851 38 4

Lexington Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 29
6
GreatSchools Rating

Lexington Elementary School

  • Education Level: Middle
  • # of students: 650
  • # of teachers: 29
6
GreatSchools Rating

Fremont Academy

  • Education Level: High
  • # of students: 851
  • # of teachers: 38
4
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,650
Property Tax -$524
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$563

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.

$475,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,203

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $1,769

    COMP ESTIMATED VALUE
  • $1.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7603$2,3004$2,500
$2,500
RENT COMPS ANALYSIS
  • 731 W Lexington Avenue Pomona, CA 2
    • 3 beds 1 baths ∙ 936 Sqft ∙ Built 1957 3 beds 1 baths ∙ 936 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.88
    •  
  • 2506 Marquette Avenue Pomona, CA 1
    • 3 beds 1 baths ∙ 970 Sqft ∙ Built 1958 3 beds 1 baths ∙ 970 Sqft ∙ Built 1958
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.80
    •  
  • 1333 S Gibbs Street Pomona, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1941
    property image
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.92
    •  
  • 1728 W Phillips Drive Phillips Ranch, CA 4
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1977
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.95
    •  
PROPERTY LISTING DETAILS
Carolina Ruiz
Keller Williams Covina
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21010210
Last Updated: 01/16/2021
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