Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $432.69
- 3 Days on Market
- MLS # : CV20255963
- Updated Date : 12/12/2020 at 17:19
CONSTRUCTION
- Beds : 3
- Floor Size : 982 sqft
- Baths : 1 full
Listing Agent
Century 21 Citrus Realty Inc
Listing Agent's Description
Make sure to take a look of this great home in Pomona! It features 3 Bedrooms and 1 Bath. The property is clean and has been well taken care of throughout the years. It has a nice layout so the family can gather at the living room while interacting with people at the kitchen or dining area. The spacious and convenient backyard is ideal for big family parties and BBQing and it includes several fruit trees. Both front and back yard have been designed for a very easy maintenance. The property has a long driveway with a covered area at the end and a carport in the back. The owner was building a very nice storage/bonus room in the backyard that the new owner will be able to finish to his/her own taste. This is a very good buy conveniently located close to shopping, entertainment, restaurants, schools and the 10, 60 and 71 freeways. Make sure to add this home to your list, it won't be around very long
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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 | $2,050 |
| EXPENSES | Loan Payment | -$1,568 |
| Property Tax | -$469 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$100 | |
|
CASH FLOW
-$138
|
||
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.
$424,900
PROJECTED PRICE
$2,050
PROJECTED RENT
0.48%
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) | 8.00% |
| 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
$118,349
LOAN DETAILS
$1,568
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $106,225 |
| Loan Amount | $318,675 |
4.67
YEARS SAVED
$24,992
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,050
LIST RENT -
$2.09
LIST RENT PER SQFT
-
$1,781
COMP ESTIMATED VALUE -
$1.81
COMP AVG. RENT PER SQFT
Comps Range
-
977 W 12th Street Pomona, CA 2
- 3 beds 1 baths ∙ 982 Sqft ∙ Built 1956 3 beds 1 baths ∙ 982 Sqft ∙ Built 1956
- Rent
- Rent Per SQFT
- $2,050
- $2.09
-
1942 Denison Street Pomona, CA 1
- 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1952
LEASED 10/29/19- Rent
- Rent Per SQFT
- $1,895
- $1.74
-
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
-
1204 Hillside Drive Pomona, CA 4
- 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 1956
LEASED 01/13/20- Rent
- Rent Per SQFT
- $2,350
- $1.78
PROPERTY LISTING DETAILS
Century 21 Citrus Realty Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20255963
Last Updated: 12/12/2020
