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2254 Navarro Drive Claremont, CA 91711

3 Beds 3 Baths 2,795 sqft Built 1977

$950,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $339.89
  • 25 Days on Market
  • MLS # : OC20228546
  • Updated Date : 11/19/2020 at 10:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,795 sqft
  • Baths : 3 full
Listing Agent

Realty One Group West

Listing Agent's Description

SPACIOUS NORTH CLAREMONT POOL HOME! • Versatile floor plan with approx. 2,795 SF of living area (per public records) including three bedrooms & three baths • Separate office room with built-in cabinets and workstations. • Light-filled living room with cathedral ceiling / Formal dining room featuring an impressive wall of windows and towering pines backdrop. • Updated kitchen with bay window over-looking the rear grounds, granite counter-tops, stainless steel appliances & breakfast bar • Open family room features a cozy fireplace with custom stone surround. • Large bonus room with shiplap ceiling and built in beverage bar • Private master suite with vaulted ceiling and spacious walk-in closet • Sizable master bath with dual sinks, oval soaking tub & separate shower. • Other notable amenities include dual-pane windows and plantation shutters, oak/glass entry door, new carpet (upstairs), gleaming wood floors, refinished ceilings, recessed lighting, indoor laundry & much more. • Exterior features include a large rear yard with in-ground pool, covered patio, raised planter, open grass area & various citrus trees • Custom stone siding and light pillars / River rock dry creek • Located on prime street in sought-after North Claremont neighborhood / Condit Elementary School

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: North Claremont

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: North Claremont

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
 

$855,000$1,045,000$950,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,505
Property Tax -$1,002
Property Insurance -$95
Property Management Fees -$172
CASH FLOW
-$1,273

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.

$950,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,500
Loan Amount $712,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $3,543

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,5003$3,5004$3,6005$4,000
$4,000
RENT COMPS ANALYSIS
  • 2254 Navarro Drive Claremont, CA 3
    • 3 beds 3 baths ∙ 2,795 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,795 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.25
    •  
  • 648 Scottsbluff Drive Claremont, CA 1
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 1983
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.27
    •  
  • 2141 Oxford Avenue Claremont, CA 2
    • 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 1965
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.24
    •  
  • 316 E Dunbarton Place Claremont, CA 4
    • 4 beds 3 baths ∙ 2,852 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,852 Sqft ∙ Built 1987
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.26
    •  
  • 754 Via Monte Video Street Claremont, CA 5
    • 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 1969 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 1969
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.30
    •  
PROPERTY LISTING DETAILS
Thomas Troli
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20228546
Last Updated: 11/19/2020
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