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PROPERTY INFO
FACTS
- Single Family
- Built In 1982
- Price/Sqft : $380.95
- 4 Days on Market
- MLS # : CV20242852
- Updated Date : 11/19/2020 at 10:37
CONSTRUCTION
- Beds : 3
- Floor Size : 1,522 sqft
- Baths : 2 full
Listing Agent
Re/max Masters Realty
Listing Agent's Description
REMODELED SINGLE STORY SITUATED ON A QUIET CUL-DE-SAC. Framed by mature trees & green grass, the cul-de-sac feels like an open greenbelt. A walkway strolls through planters to the front door leading to an entry way, open floor plan w/vaulted ceilings (throughout) & a skylight. Spacious family room w/new paint & crown molding (throughout), recessed lighting, a custom travertine fireplace w/wood mantel & French doors that open to an enclosed patio surrounded with windows, a ceiling fan, new carpet and backyard access. Formal dining area features a glass chandelier & window w/drapes. Remodeled kitchen w/cherrywood cabinetry, granite counters, glass tiled backsplash, stainless steel appliances & a spacious breakfast nook surrounded w/windows. Master bedroom offers carpeted floors, ceiling fan, bay window & vaulted ceilings (in all bedrooms). Master bathroom w/wood patterned tile floors, cherrywood cabinetry, granite countertop & privacy door to custom tiled shower w/frameless glass surround. Two additional bedrooms w/ceiling fans plus a remodeled hall bath also w/cherrywood cabinetry, quartz countertop, tiled wainscoting & marble shower/tub. Indoor laundry room leads to attached two car garage. Backyard w/artificial turf, concrete decking, block wall w/greenery & vinyl fencing. New HVAC, new interior paint & new exterior trim. Association has a gated pool and spa with a park like setting & includes exterior insurance, paint, pest control, roofing, landscaping & irrigation.
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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: Piedmont Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Piedmont Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,640 |
| EXPENSES | Loan Payment | -$2,139 |
| Property Tax | -$641 | |
| Property Insurance | -$64 | |
| HOA | -$300 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$633
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$579,800
PROJECTED PRICE
$2,640
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 7.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| 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
$159,397
LOAN DETAILS
$2,139
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $144,950 |
| Loan Amount | $434,850 |
1.08
YEARS SAVED
$3,133
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,640
LIST RENT -
$1.73
LIST RENT PER SQFT
-
$2,812
COMP ESTIMATED VALUE -
$1.85
COMP AVG. RENT PER SQFT
Comps Range
-
1273 Shepherd Way Claremont, CA 1
- 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1982
![property image]()
- Rent
- Rent Per SQFT
- $2,640
- $1.73
-
1815 Roanoke Road Claremont, CA 2
- 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1964
![property image]()
LEASED 07/12/19- Rent
- Rent Per SQFT
- $2,700
- $1.73
-
3868 Shelter Grove Drive Claremont, CA 3
- 3 beds 1 baths ∙ 1,471 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,471 Sqft ∙ Built 1963
![property image]()
LEASED 06/10/20- Rent
- Rent Per SQFT
- $2,850
- $1.94
-
4224 Stone Circle La Verne, CA 4
- 4 beds 1 baths ∙ 1,716 Sqft ∙ Built 1977 4 beds 1 baths ∙ 1,716 Sqft ∙ Built 1977
![property image]()
LEASED 08/20/20- Rent
- Rent Per SQFT
- $3,200
- $1.86
-
4275 Williams Avenue La Verne, CA 5
- 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 1981
![property image]()
LEASED 12/24/19- Rent
- Rent Per SQFT
- $3,300
- $1.86
PROPERTY LISTING DETAILS
Re/max Masters Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20242852
Last Updated: 11/19/2020
