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977 W 12th Street Pomona, CA 91766

3 Beds 1 Baths 982 sqft Built 1956

$424,900

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
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

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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

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
Vejar Elementary School Primary Regular 897 37 4
Fremont Academy Middle Regular 851 38 4
Fremont Academy High Regular 851 38 4

Vejar Elementary School

  • Education Level: Primary
  • # of students: 897
  • # of teachers: 37
4
GreatSchools Rating

Fremont Academy

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

Fremont Academy

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

$382,410$467,390$424,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

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
$1,895
1$1,8952$2,0503$2,3004$2,350
$2,350
RENT COMPS ANALYSIS
  • 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
Carolina Santiago
Century 21 Citrus Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20255963
Last Updated: 12/12/2020
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