1293 W 2nd Street, Pomona, California 91766, Pomona, 91766 - 1 bed, 1 bath
ACTIVE$900,000$1,460/sqft
Est. Value: $469,110
-47%
AboveEstimate
1293 W 2nd Street, Pomona, California 91766
1Bed
1Bath
1,460Sqft
7,171Lot
Price Vs. Estimate
The estimated value ($469,109.93) is $430,890.07 (47%) lower than the list price ($900,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7171, living area = 1460.
Top Cons:
Foreclosure & Condition: The property is in foreclosure and 'needs some work,' indicating it is a distressed asset that will require significant renovation and financial investment from the buyer.
Compared to the nearby listings
Price:$900.0K vs avg $725.0K (+$175,000)80%
Size:1,460 sqft vs avg 1,516 sqft48%
Price/sqft:$616 vs avg $49286%
More Insights
Built in 1932 (94 years old).
Condition: The property was built in 1932 and the listing explicitly states it 'needs some work' and is 'in foreclosure,' indicating a distressed asset requiring substantial repairs and rehabilitation. While no interior images are provided to assess the kitchen and bathrooms directly, the overall condition described suggests significant deferred maintenance and outdated systems, aligning with the 'poor' category. The property analysis also highlights 'significant renovation and financial investment' as a necessity.
Year Built
1932
Close
-
List price
$900K
Original List price
$1.13M
Price/Sqft
$616
HOA
-
Days on market
-
Sold On
-
MLS number
25543089
Home ConditionPoor
Features
Good View:
View
About this home
Fantastic opportunity! This corner lot features not only a single family residence but also a warehouse which can be used for a variety of activities to produce income. The property is in foreclosure and needs some work. There may be flexibility on the price.
B
Brandon Hauer
Listing Agent
Condition Rating
Poor
The property was built in 1932 and the listing explicitly states it 'needs some work' and is 'in foreclosure,' indicating a distressed asset requiring substantial repairs and rehabilitation. While no interior images are provided to assess the kitchen and bathrooms directly, the overall condition described suggests significant deferred maintenance and outdated systems, aligning with the 'poor' category. The property analysis also highlights 'significant renovation and financial investment' as a necessity.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7171, living area = 1460.
Income-Generating Potential: The property includes a warehouse that can be utilized for various activities to produce income, offering significant versatility and investment potential.
Corner Lot Advantage: Positioned on a corner lot, the property benefits from increased visibility, potentially more natural light, and greater accessibility.
Negotiation Opportunity: The listing explicitly mentions 'flexibility on the price,' suggesting a strong opportunity for buyers to negotiate a more favorable purchase price.
Generous Lot Size: With a lot size of 7171 sqft, there is ample outdoor space for landscaping, potential expansion, or the addition of an Accessory Dwelling Unit (ADU).
Established Property: Built in 1932, the property offers the potential for classic architectural charm and a solid, established presence in the neighborhood.
Cons
Foreclosure & Condition: The property is in foreclosure and 'needs some work,' indicating it is a distressed asset that will require significant renovation and financial investment from the buyer.
Substantial Overpricing: The listing price of $900,000 is nearly double the estimated property value of $469,109.93, suggesting a severe overvaluation that could hinder financing and market appeal.
Limited Bedroom/Bathroom Count: With only 1 bedroom and 1 bathroom for 1460 sqft, the property has a very low bed/bath ratio, which may limit its appeal to a broad range of potential buyers, particularly families.