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820 Curtis Court Pomona, CA 91766

3 Beds 1 Baths 992 sqft Built 1957

$449,999

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1957
  • Price/Sqft : $453.63
  • 3 Days on Market
  • MLS # : CV20230566
  • Updated Date : 11/02/2020 at 10:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 992 sqft
  • Baths : 1 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Welcome to this charming turnkey home waiting for you and your family! This cozy single-story home sits in a quiet cul-de-sac located in an established neighborhood of South Pomona. The home offers 3 bedrooms, 1 bathroom and an array of features and upgrades all in over 900 sq ft of living. The kitchen has been completely upgraded with beautiful granite counter tops, oak colored cabinets with plenty of space, self closing kitchen drawers, newer faucets and double-sink, garbage disposal and white appliances. The bedrooms are roomy and well-maintained. The home also has double pane windows throughout, has a 2.5-ton A/C, and the roof is less than 1 year old! The backyard offers a lot size of over 8100 sq ft and comes with a heated 10 feet-deep pool. The backyard also has a newly custom-built gazebo ideal for those beautiful Southern California days and nights. And for added privacy there is a newly added 7 foot vinyl fence facing the street. The 2-car garage has plenty of storage space and has the capacity for laundry hookup relocation. Driveway has ample parking space as does the street for any visiting guests. Lastly, the home is conveniently located near the 60 and 71 fwy, schools, eateries and many shopping centers. Don’t pass up this great opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Philadelphia Elementary School Primary Regular 792 28 4
Philadelphia Elementary School Middle Regular 792 28 4
Garey Senior High School High Regular 1,819 76 3

Philadelphia Elementary School

  • Education Level: Primary
  • # of students: 792
  • # of teachers: 28
4
GreatSchools Rating

Philadelphia Elementary School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 28
4
GreatSchools Rating

Garey Senior High School

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

$404,999$494,999$449,999

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,660
Property Tax -$494
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$324

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.

$449,999

PROJECTED PRICE

$1,980

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,499
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$11,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $1,845

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9803$2,300
$2,300
RENT COMPS ANALYSIS
  • 820 Curtis Court Pomona, CA 2
    • 3 beds 1 baths ∙ 992 Sqft ∙ Built 1957 3 beds 1 baths ∙ 992 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $2.00
    •  
  • 2506 Marquette Avenue Pomona, CA 1
    • 3 beds 1 baths ∙ 970 Sqft ∙ Built 1958 3 beds 1 baths ∙ 970 Sqft ∙ Built 1958
    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
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.92
    •  
PROPERTY LISTING DETAILS
Guadalupe Casian
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20230566
Last Updated: 11/02/2020
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