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1962 Brockport Court Claremont, CA 91711

4 Beds 2 Baths 1,784 sqft Built 1968

$700,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $392.38
  • 6 Days on Market
  • MLS # : CV20241442
  • Updated Date : 11/17/2020 at 10:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,784 sqft
  • Baths : 2 full
Listing Agent

Re/max Masters Realty

Listing Agent's Description

Home has it all 4 bedrooms, single story, pool and 3 car garage. Original owner has been in property for 30 years. Kitchen and family room has beautiful tile floors, open area to kitchen with breakfast eating area. Entry way open to living and family room. Livingroom with fireplace and open formal dining area. 4 large bedrooms with extra large master bedroom with master bath with shower. Windows updated to dual pane. Back yard is an oasis with pool and spa. Patio area off kitchen family room.

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: Chaparral

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Chaparral

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16453697

* 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
Chaparral Elementary School Primary Regular 656 25 8
Chaparral Elementary School Middle Regular 656 25 8
Claremont High School High Regular 2,423 92 9

Chaparral Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 25
8
GreatSchools Rating

Chaparral Elementary School

  • Education Level: Middle
  • # of students: 656
  • # of teachers: 25
8
GreatSchools Rating

Claremont High School

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

$630,000$770,000$700,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,583
Property Tax -$738
Property Insurance -$70
Property Management Fees -$137
CASH FLOW
-$738

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.

$700,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.7%
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

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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $2,930

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,7904$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 1962 Brockport Court Claremont, CA 3
    • 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.56
    •  
  • 246 Wagner Drive Claremont, CA 1
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1963
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.58
    •  
  • 726 Earlham Drive Claremont, CA 2
    • 3 beds 1 baths ∙ 1,670 Sqft ∙ Built 1977 3 beds 1 baths ∙ 1,670 Sqft ∙ Built 1977
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.65
    •  
  • 1640 Lafayette Road Claremont, CA 4
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1960
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.61
    •  
  • 2167 Capuchin Way Claremont, CA 5
    • 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 1978
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.73
    •  
PROPERTY LISTING DETAILS
Melanie Devine
Re/max Masters Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20241442
Last Updated: 11/17/2020
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