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836 N Mountain View Avenue Pomona, CA 91767

3 Beds 2 Baths 1,506 sqft Built 1949

$550,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $365.21
  • 9 Days on Market
  • MLS # : TR20239899
  • Updated Date : 11/18/2020 at 22:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,506 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Great single story home with detached 2 car GARAGE and POOL. A home with a pool in Pomona is a rare fine. This property features 3 BEDROOMS and 2 BATHROOMS. You enter into the open living room which has hardwood floors and the living room has new carpet. Master bedroom sits in the back part of the house with lots of privacy and the other bedrooms are towards the front part of the house. This home sits on a nice lot. Long driveway that allows you to park an RV. There is great backyard space for gatherings to enjoy the pool. Property is well cared for. Original hardwood floors add to the ambiance and history of this home. Kitchen has a view to the pool and french doors that lead you to the backyard. There is a closet for the washer and dryer. This home has been freshly painted and cleaned ready for move in or for someone to put their personal touches to it. It is close to freeways and shops. Don't miss out. It won't last!

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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
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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,029
Property Tax -$607
Property Insurance -$64
Property Management Fees -$117
CASH FLOW
-$427

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.

$550,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.43%

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-$10k-$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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$12,150

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $2,372

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,3504$2,3905$2,495
$2,495
RENT COMPS ANALYSIS
  • 836 N Mountain View Avenue Pomona, CA 4
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1949
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.59
    •  
  • 1087 Terryview Avenue Pomona, CA 1
    • 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1963
    property image
    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
    property image
    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
    property image
    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
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.56
    •  
PROPERTY LISTING DETAILS
Annabelle Pacheco
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20239899
Last Updated: 11/18/2020
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