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416 Fordham Place Claremont, CA 91711

3 Beds 2 Baths 1,702 sqft Built 1960

$780,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $458.28
  • 2 Days on Market
  • MLS # : PW20240000
  • Updated Date : 11/14/2020 at 14:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,702 sqft
  • Baths : 2 full
Listing Agent

Lifetime Realty Inc

Listing Agent's Description

Welcome home to this completely remodeled single-level home nestled in the highly desired Village in Claremont. Situated on a quiet cul-du-sac offering ideal family living. Brand new paint, carpet, crown moulding, travertine tile, re-tiled deco fireplace, and many more top notch upgrades. Home features 3 large bedrooms, 2 bath, a 400sf bonus room, and spacious 2 car garage with built-ins. Beautiful mountain and neighborhood views. Totally private oasis pool in the backyard with a white sand beach for the little ones to play. The backyard is incredible with exquisite deco and exterior design. Totally landscaped flowers and mini gardens. Central air and natural gas appliances. This house is in a fantastic neighborhood with great neighbors and families with kids. Enjoy the Claremont Village lifestyle with just an 8 minute walk to all the Village life, shops and metro. Come and fall in love today!

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: Vista

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $187k720k

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

Neighborhood: Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001700180019002000210022002300240025002600270028002900Rent in $15592941

* 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
Vista Del Valle Elementary School Primary Regular 316 12 8
Vista Del Valle Elementary School Middle Regular 316 12 8
Claremont High School High Regular 2,423 92 9

Vista Del Valle Elementary School

  • Education Level: Primary
  • # of students: 316
  • # of teachers: 12
8
GreatSchools Rating

Vista Del Valle Elementary School

  • Education Level: Middle
  • # of students: 316
  • # of teachers: 12
8
GreatSchools Rating

Claremont High School

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

$702,000$858,000$780,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$2,878
Property Tax -$822
Property Insurance -$68
Property Management Fees -$136
CASH FLOW
-$1,125

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.

$780,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.63

    LIST RENT PER SQFT
  • $2,783

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,6504$2,7805$3,200
$3,200
RENT COMPS ANALYSIS
  • 416 Fordham Place Claremont, CA 4
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.63
    •  
  • 135 Buena Vista Drive Claremont, CA 1
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1961
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.66
    •  
  • 442 S College Avenue Claremont, CA 2
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1959
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.54
    •  
  • 227 Marywood Avenue Claremont, CA 3
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1964
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.76
    •  
  • 463 Milton Court Claremont, CA 5
    • 4 beds 1 baths ∙ 2,024 Sqft ∙ Built 1958 4 beds 1 baths ∙ 2,024 Sqft ∙ Built 1958
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.58
    •  
PROPERTY LISTING DETAILS
Erica Hall
Lifetime Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20240000
Last Updated: 11/14/2020
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