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PROPERTY INFO
FACTS
- Single Family
- Built In 2020
- Price/Sqft : $298.93
- 6 Days on Market
- MLS # : TR21146107
- Updated Date : 07/10/2021 at 08:57
CONSTRUCTION
- Beds : 4
- Floor Size : 2,141 sqft
- Baths : 3 full , 1 half
Listing Agent
Century 21 Care
Listing Agent's Description
Rare Opportunity to Purchase a 2019 Newer Built Family 4 bedroom / 3.5 Bath Home with an attached Mother-in-law quarters (Next-Gen) with a kitchenette! The attached unit has it's own entrance, independent AC/Heating, Water Heater and separate Washer and Dryer hookups. The main house is 3 bedrooms and 2-1/2 bath. The Rear Unit offers 1 bedroom, 1 bath for a total of 4 bedrooms and 3.5 bathrooms. Perfect for Two families or an investor to live in one unit and rent out the other. Features include distressed vinyl laminate flooring, recessed lighting, and dual-pane windows throughout. The great-room floor plan offers a living room area, dining area and large kitchen with ample cabinet storage, stunning quartz countertops and stainless steel appliances. The home has a powder room and 3 gorgeous bathrooms offering tile showers and quartz countertops. Existing window coverings are included and rooms have plenty of natural light. The home is located on a large lot with attached 2 car garage and additional 4 cars parking. Close to schools, parks, freeways and shopping centers. Automatic rolling gate is new along with side gate. New, large concrete patio was installed within the last year which is perfect for those large family gatherings.
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MARKET HIGHLIGHTS
- As part of Southern California area, Los Angeles market inherits all the benefits from the area.
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
- 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
- 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]
PRICE & RENT TRENDS
Neighborhood: Pomona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pomona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,270 |
| EXPENSES | Loan Payment | -$2,223 |
| Property Tax | -$705 | |
| Property Insurance | -$79 | |
| Property Management Fees | -$160 | |
|
CASH FLOW
$103
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 7% of earned rent to cover both maintenance and periods of vacancy.
$640,000
PROJECTED PRICE
$3,270
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 7.8% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 4.14% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$171,600
LOAN DETAILS
$2,223
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $160,000 |
| Loan Amount | $480,000 |
7.58
YEARS SAVED
$65,070
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,270
LIST RENT -
$1.53
LIST RENT PER SQFT
-
$2,933
COMP ESTIMATED VALUE -
$1.37
COMP AVG. RENT PER SQFT
Comps Range
-
798 E Phillips Boulevard Pomona, CA 4
- 4 beds 4 baths ∙ 2,141 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,141 Sqft ∙ Built 2020
- Rent
- Rent Per SQFT
- $3,270
- $1.53
-
1354 S Towne Avenue Pomona, CA 1
- 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 2007
LEASED 05/28/20- Rent
- Rent Per SQFT
- $2,575
- $1.30
-
1166 E Grand Ave Pomona, CA 2
- 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2008
LEASED 09/28/20- Rent
- Rent Per SQFT
- $2,600
- $1.41
-
40 Gable Court Pomona, CA 3
- 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 2019
LEASED 08/24/20- Rent
- Rent Per SQFT
- $3,100
- $1.29
-
42 Gabel Ct Pomona, CA 5
- 5 beds 4 baths ∙ 2,435 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,435 Sqft ∙ Built 2019
LEASED 10/27/20- Rent
- Rent Per SQFT
- $3,600
- $1.48
PROPERTY LISTING DETAILS
Century 21 Care
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR21146107
Last Updated: 07/10/2021
