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2373 W Silver Tree Road Claremont, CA 91711

5 Beds 3 Baths 2,507 sqft Built 1963

$875,000

List Price

$3,470

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $349.02
  • 3 Days on Market
  • MLS # : CV21024422
  • Updated Date : 02/19/2021 at 21:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,507 sqft
  • Baths : 3 full
Listing Agent

Re/max Resources

Listing Agent's Description

Welcome to Holmby Estates! This charming North Claremont home will amaze you! When you pull up to this beautiful home, you will know this is the one you want for your own. Enter through the beautiful front doors to be greeted by a cozy casual space, perfect for spending time with your family and friends. This space opens gracefully into the kitchen space. The formal dining room is generously sized, and flows seamlessly into the formal living room. The formal living room is elegantly appointed with a fireplace and newer sliding glass doors which open out to the expansive backyard and let in an abundance of natural light. The downstairs of the property truly lives like a single story home with a ground floor master bedroom and two additional bedrooms. As you move upstairs you will find two large secondary bedrooms, each with large windows creating a bright & airy feel, and an additional bathroom. The very generous two car garage can accommodate larger vehicles. There is also a seperate laundry room. The expansive backyard is the perfect place to entertain family and friends. Imagine setting up a game of volleyball or croquet for friends and family! There is plenty of room if you would like to add a pool. The side yard is very large & offers RV parking. This property has an excellent location. It is walking distance to the Thompson Creek Trail, Higginbotham Park, and the Claremont Wilderness Trail. The location is also very commuter friendly to the 210 freeway & the 10 freeway.

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)
  • 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: Thompson Creek

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Thompson Creek

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
El Roble Intermediate School Middle Regular 1,068 43 7
Claremont High School High Regular 2,423 92 9
El Roble Intermediate School Middle Unknown NA

El Roble Intermediate School

  • Education Level: Middle
  • # of students: 1,068
  • # of teachers: 43
7
GreatSchools Rating

Claremont High School

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

El Roble Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$787,500$962,500$875,000

PURCHASE PRICE

$3,123$3,817$3,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$3,039
Property Tax -$923
Property Insurance -$88
Property Management Fees -$170
CASH FLOW
-$749

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.

$875,000

PROJECTED PRICE

$3,470

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.7%
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$2.5M

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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$10,702

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,470

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $3,447

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,985
1$2,9852$3,0003$3,2004$3,4705$3,700
$3,700
RENT COMPS ANALYSIS
  • 2373 W Silver Tree Road Claremont, CA 4
    • 5 beds 3 baths ∙ 2,507 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,507 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,470
    • $1.38
    •  
  • 1814 Roanoke Road Claremont, CA 1
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 1965
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,985
    • $1.30
    •  
  • 2641 Sweetbriar Drive Claremont, CA 2
    • 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 1976
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.39
    •  
  • 430 Redlands Avenue Claremont, CA 3
    • 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 1966
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.43
    •  
  • 796 Via Santo Tomas Claremont, CA 5
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 1966
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.38
    •  
PROPERTY LISTING DETAILS
Laura Dandoy
Re/max Resources
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21024422
Last Updated: 02/19/2021
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