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3936 Florac Avenue Claremont, CA 91711

3 Beds 3 Baths 2,092 sqft Built 1955

$892,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $426.39
  • 3 Days on Market
  • MLS # : AR21004921
  • Updated Date : 01/08/2021 at 19:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,092 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Attractive home located on a quiet cul-de-sac in a North Claremont neighborhood. This open floor plan features a spacious living room appointed with a brick fireplace and formal dining room. The kitchen features built-in appliances, ample cabinetry with granite counters, breakfast bar, two pantries and breakfast area. The oversized master retreat is located at the rear of the home and boasts a large walk-in closet, bathroom with a dual sink vanity, soaking tub, tiled shower and has French doors opening to the backyard. There are two generous-sized bedrooms that share a jack-and-jill bathroom with ample storage. The private backyard has a large covered patio that provides the perfect place to entertain, a grassy area and storage shed. The garage has been finished and has an attached bonus room that is ideal for a home office, gym or hobby room. Other amenities include central air and heat, dual pane windows, plantation shutters, recessed lighting, carport and room for RV parking.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Piedmont Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Piedmont Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16613697

* 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
Sumner Elementary School Primary Regular 541 21 5
El Roble Intermediate School Middle Regular 1,068 43 7
Claremont High School High Regular 2,423 92 9

Sumner Elementary School

  • Education Level: Primary
  • # of students: 541
  • # of teachers: 21
5
GreatSchools Rating

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
 

$802,800$981,200$892,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$3,098
Property Tax -$926
Property Insurance -$78
Property Management Fees -$145
CASH FLOW
-$1,287

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.

$892,000

PROJECTED PRICE

$2,960

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.6%
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

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$242,130

INVESTMENT

$242,130

Down Payment
$223,000
Rehab Estimate
$5,750
Closing Costs
$13,380

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,098

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $223,000
Loan Amount $669,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $2,981

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,795
1$2,7952$2,9003$2,9604$3,1005$3,200
$3,200
RENT COMPS ANALYSIS
  • 3936 Florac Avenue Claremont, CA 3
    • 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 1955 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $1.41
    •  
  • 1445 Turning Bend Drive Claremont, CA 1
    • 4 beds 3 baths ∙ 2,124 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,124 Sqft ∙ Built 1963
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.32
    •  
  • 952 Occidental Drive Claremont, CA 2
    • 3 beds 2 baths ∙ 1,959 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,959 Sqft ∙ Built 1963
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.48
    •  
  • 1098 Syracuse Dr Claremont, CA 4
    • 3 beds 1 baths ∙ 2,004 Sqft ∙ Built 1964 3 beds 1 baths ∙ 2,004 Sqft ∙ Built 1964
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.55
    •  
  • 939 Fenn Court Claremont, CA 5
    • 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 1962
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.35
    •  
PROPERTY LISTING DETAILS
Espi Bagwell
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21004921
Last Updated: 01/08/2021
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