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PROPERTY INFO
FACTS
- Single Family
- Built In 1968
- Price/Sqft : $322.99
- 4 Days on Market
- MLS # : CV21033302
- Updated Date : 02/20/2021 at 11:22
CONSTRUCTION
- Beds : 4
- Floor Size : 2,771 sqft
- Baths : 1 full
Listing Agent
Wheeler Steffen Sotheby's Int.
Listing Agent's Description
Sprawling Pool Home With Impressive Bonus Room. Sited on a quiet street in North Claremont, this single story home has been lovingly maintained and improved by the same owners for nearly 40 years. Double doors open to a formal entry way, open to the formal living and dining rooms with a fireplace and beautiful wood floors. The kitchen has views to the backyard and has been improved with stone counters, recessed lighting, and a built-in gas range. There is breakfast counter seating and room for a spacious kitchen table, open to the family room with vaulted wood beam ceilings and built in desk area. Large master suite with direct access to the backyard. Two of the smaller bedrooms have been combined into one large bedroom, and can be easily converted back to two separate rooms. A highlight of this property is the large attractive bonus room with high wood beam ceilings, stone fireplace, and walls of glass to bring in lots of natural light. There are dual HVAC systems help keep energy costs down. The backyard features an elevated patio with aluminum cover, and steps leading down to the pool and spa area with grass on one side, and drought tolerant landscaping on the other. Indoor laundry room, two car garage, plus RV parking potential.
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MARKET HIGHLIGHTS
- 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)
- 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]
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
PRICE & RENT TRENDS
Neighborhood: North Claremont
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Claremont
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,350 |
| EXPENSES | Loan Payment | -$3,109 |
| Property Tax | -$944 | |
| Property Insurance | -$94 | |
| Property Management Fees | -$164 | |
|
CASH FLOW
-$960
|
||
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.
$895,000
PROJECTED PRICE
$3,350
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 4.5% |
| 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
$242,925
LOAN DETAILS
$3,109
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $223,750 |
| Loan Amount | $671,250 |
1.08
YEARS SAVED
$3,998
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,350
LIST RENT -
$1.21
LIST RENT PER SQFT
-
$3,270
COMP ESTIMATED VALUE -
$1.18
COMP AVG. RENT PER SQFT
Comps Range
-
2204 N Villa Maria Road Claremont, CA 2
- 4 beds 1 baths ∙ 2,771 Sqft ∙ Built 1968 4 beds 1 baths ∙ 2,771 Sqft ∙ Built 1968
- Rent
- Rent Per SQFT
- $3,350
- $1.21
-
561 Occidental Drive Claremont, CA 1
- 5 beds 2 baths ∙ 2,453 Sqft ∙ Built 1964 5 beds 2 baths ∙ 2,453 Sqft ∙ Built 1964
LEASED 11/09/19- Rent
- Rent Per SQFT
- $2,900
- $1.18
PROPERTY LISTING DETAILS
Wheeler Steffen Sotheby's Int.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21033302
Last Updated: 02/20/2021
