Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
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
* 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 | $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
| 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
$211,125
LOAN DETAILS
$2,692
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $193,750 |
| Loan Amount | $581,250 |
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
-
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
Moist Realtors
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: EV21004357
Last Updated: 01/13/2021
