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1409 Tulane Road Claremont, CA 91711

3 Beds 3 Baths 2,535 sqft Built 1955

$795,000

List Price

$3,240

$3K - $3.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $313.61
  • 14 Days on Market
  • MLS # : EV20245404
  • Updated Date : 12/01/2020 at 14:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,535 sqft
  • Baths : 3 full
Listing Agent

Arnott & Associates

Listing Agent's Description

While maintaining the original charm of this mid-century home, many upgrades have been made to this property including a completely remodeled kitchen (2017) with soft close cabinets and drawers. Stainless steel appliances, gas stove/oven, recessed lighting, kitchen meal prep/breakfast bar and plenty of storage including a large food pantry. With an open concept layout, the kitchen, dining room and family room share their own fireplace and a mini bar for that tasty beverage by the fire. There is also a spacious separate formal living room with a second gas fireplace and great natural light filling the room. The master bedroom has a newly remodeled master bath within the suite. There are plantation shutters throughout the home, as well as lots of storage and closet space. The home has Solar with the panels located away from the street view keeping up the curb appeal. The home boasts a large front yard which has been professionally landscaped with California native plants on a drip system and a fenced backyard with mixed concrete and brick patio for entertaining. The yard also has a dog run and a newer storage shed. There are also four mature fruit trees which include a seedless navel orange tree, as well as a grapefruit, tangerine and lemon tree. This home is located in the highly sought-after Towne Ranch neighborhood which has wide tree lined streets & is a short distance to the Lewis Park & top-rated Condit Elem and Claremont High School all within a mile!

SEE MORE

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: Towne Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Towne Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16653697

* 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
Condit Elementary School Primary Regular 687 26 7
Condit Elementary School Middle Regular 687 26 7
Claremont High School High Regular 2,423 92 9

Condit Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 26
7
GreatSchools Rating

Condit Elementary School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 26
7
GreatSchools Rating

Claremont High School

  • Education Level: High
  • # of students: 2,423
  • # of teachers: 92
9
GreatSchools Rating
 

$715,500$874,500$795,000

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,240
EXPENSES Loan Payment -$2,933
Property Tax -$838
Property Insurance -$88
Property Management Fees -$159
CASH FLOW
-$778

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.

$795,000

PROJECTED PRICE

$3,240

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$216,425

INVESTMENT

$216,425

Down Payment
$198,750
Rehab Estimate
$5,750
Closing Costs
$11,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $198,750
Loan Amount $596,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$9,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,240

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $3,644

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$2,985
1$2,9852$3,2003$3,2404$3,7005$3,900
$3,900
RENT COMPS ANALYSIS
  • 1409 Tulane Road Claremont, CA 3
    • 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 1955 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,240
    • $1.28
    •  
  • 1814 Roanoke Road Claremont, CA 1
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 1965
    property image
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,985
    • $1.30
    •  
  • 939 Fenn Court Claremont, CA 2
    • 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 1962
    property image
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.35
    •  
  • 796 Via Santo Tomas Claremont, CA 4
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 1966
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.38
    •  
  • 695 Delaware Drive Claremont, CA 5
    • 4 beds 2 baths ∙ 2,265 Sqft ∙ Built 1958 4 beds 2 baths ∙ 2,265 Sqft ∙ Built 1958
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.72
    •  
PROPERTY LISTING DETAILS
Joe Arnott
Arnott & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV20245404
Last Updated: 12/01/2020
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