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2345 Coalinga Court Claremont, CA 91711

4 Beds 3 Baths 2,402 sqft Built 1969

$949,000

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $395.09
  • 5 Days on Market
  • MLS # : NP20232226
  • Updated Date : 01/02/2021 at 18:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,402 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

GET READY TO CHECK ALL OF THE BOXES! • North Claremont • Single-story home • Cul-de-sac location • 4 bedrooms • 2 ½ bathrooms • Over 2400 sq ft • 13,321 sq ft lot • Pool • Condit Elementary boundary, and so much more ----- Located at the top of the street and backing up to a park with views of the mountains, this home has it all. Enter into the spacious living room with adjacent dining room anchored by a large dual-sided fireplace. On the other side of the fireplace is the oversized family room, casual dining area, and an open kitchen with white shaker soft-close cabinets, stainless steel appliances, coffee cabinet, center island, farmhouse sink, and quartz countertops. With a vaulted ceiling and a wall of windows, this room is spectacular. The sliding door leads to the backyard complete with a large patio for outdoor living, grassy areas, a pool, and a private rock garden. There are three generously sized bedrooms and a light and bright primary suite. The suite has a luxurious updated bathroom, dual vanities, a custom walk-in closet, and private access to the backyard. Other interior features include updated bathrooms, laundry room, wood floors, crown molding, scraped ceilings, plantation shutters, and more. Exterior features include a 2-year-old roof, storage shed, dual-pane windows, alarm system, and the list goes on.

SEE MORE

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)
  • 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)

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
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$3,501
Property Tax -$1,001
Property Insurance -$85
Property Management Fees -$168
CASH FLOW
-$1,335

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.

$949,000

PROJECTED PRICE

$3,420

PROJECTED RENT

0.36%

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-$25k-$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$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $3,729

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4003$3,4204$3,5005$3,800
$3,800
RENT COMPS ANALYSIS
  • 2345 Coalinga Court Claremont, CA 3
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $1.42
    •  
  • 430 Redlands Avenue Claremont, CA 1
    • 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 1966
    property image
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.43
    •  
  • 122 W Fairfield Drive Claremont, CA 2
    • 4 beds 2 baths ∙ 2,146 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,146 Sqft ∙ Built 1977
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.58
    •  
  • 518 Charleston Drive Claremont, CA 4
    • 4 beds 1 baths ∙ 2,232 Sqft ∙ Built 1975 4 beds 1 baths ∙ 2,232 Sqft ∙ Built 1975
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.57
    •  
  • 606 Martin Way Claremont, CA 5
    • 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1977
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.63
    •  
PROPERTY LISTING DETAILS
Dolores Gastineau
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP20232226
Last Updated: 01/02/2021
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