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311 Indiana Avenue Claremont, CA 91711

3 Beds 1 Baths 1,675 sqft Built 1979

$775,000

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $462.69
  • 10 Days on Market
  • MLS # : EV21004357
  • Updated Date : 01/13/2021 at 20:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,675 sqft
  • Baths : 1 full
Listing Agent

Moist Realtors

Listing Agent's Description

First Time on the Market! Nestled on a Quiet tree lined street in North Claremont, this Highly sought after Single Story home has been Nicely Maintained and Updated by it's Original Owner. Home offers a Permitted Sunroom that merges the Beauty of the Outdoors with the Inside PLUS 1,675 sq ft of Living Area making it over 1,900 Sq Ft. Gated Courtyard Entrance is Private and Peaceful Inviting you into the Living Room where a Floor to Ceiling Brick Fireplace serves as the Focal Point. Kitchen has been Upgraded in Current Colors with White Cabinetry, Gorgeous Granite Counters, Subway Tile Backsplash, Stainless Sink and Appliances. Spacious Master Suite has 2 Large Closets ~ Master Bath has a Huge Walk-in Shower and Dressing area. Both Baths have been Updated with Rich Paneled Wall & Matching Shaker Cabinets, Quartz Counters, Vessel Sinks, Stylish Faucets and Lights. Recent Upgrades include Newer Roof, Dual Pane Windows, Plantation Shutters and French Doors. Private Backyard has Huge Grass Yard, Open Patio Areas, Block Walls and Mature shade trees. Located on one of the Largest Lots in the neighborhood (over 1/4 Acre) that would Easily Accommodate a Pool or even and Accessory Dwelling Unit! True Gated RV Parking provides full access to Back Yard. Close to Claremont Colleges & Schools, Restaurants, Shopping & 210 Fwy. This Home is a Gem!

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
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
 

$697,500$852,500$775,000

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$2,692
Property Tax -$817
Property Insurance -$68
Property Management Fees -$140
CASH FLOW
-$857

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.

$775,000

PROJECTED PRICE

$2,860

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

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$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,692

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$2,768

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $2,885

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,8603$2,9954$3,1505$3,200
$3,200
RENT COMPS ANALYSIS
  • 311 Indiana Avenue Claremont, CA 2
    • 3 beds 1 baths ∙ 1,675 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,675 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $1.71
    •  
  • 2069 New Haven Avenue Claremont, CA 1
    • 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 1998
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.69
    •  
  • 610 Charleston Claremont, CA 3
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1975
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.69
    •  
  • 2307 Jamestown Court Claremont, CA 4
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1976
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.78
    •  
  • 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
Susie Southern
Moist Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV21004357
Last Updated: 01/13/2021
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