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424 Greensboro Court Claremont, CA 91711

3 Beds 2 Baths 1,606 sqft Built 1965

$770,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $479.45
  • 5 Days on Market
  • MLS # : CV20241389
  • Updated Date : 11/20/2020 at 07:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,606 sqft
  • Baths : 2 full
Listing Agent

Landmark Mortgage And Realty

Listing Agent's Description

Beautiful Spanish-style home, tucked away on a quiet cul-de-sac located in the heart of Claremont! Open courtyard with water feature and porch swing, as you are greeted by gorgeous solid-wood double doors. The dining room leads to a classic kitchen with tile floors, granite countertops, and stainless steel appliances. Large family room with open concept has a brick fireplace, hardwood floors, and lots of natural light throughout. Windows with big, wood shutters, have views from every room. Master bedroom has private bath with double sinks and a glass slider that lead outdoors to a private deck made of composite wood, and a jacuzzi spa. Ample space in backyard with garden brings solitude. Close to shopping, 210 freeway, and just minutes away from the Harvey Mudd College, and Chaparral Elementary School!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chaparral

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Chaparral

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16453697

* 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
 

$693,000$847,000$770,000

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,841
Property Tax -$812
Property Insurance -$66
Property Management Fees -$138
CASH FLOW
-$1,037

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.

$770,000

PROJECTED PRICE

$2,820

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$209,800

INVESTMENT

$209,800

Down Payment
$192,500
Rehab Estimate
$5,750
Closing Costs
$11,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $192,500
Loan Amount $577,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,049

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • $2,827

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7203$2,7504$2,8205$2,900
$2,900
RENT COMPS ANALYSIS
  • 424 Greensboro Court Claremont, CA 4
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.76
    •  
  • 1524 Marjorie Avenue Claremont, CA 1
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1977
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.85
    •  
  • 1639 Denver Avenue Claremont, CA 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1962
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.88
    •  
  • 726 Earlham Drive Claremont, CA 3
    • 3 beds 1 baths ∙ 1,670 Sqft ∙ Built 1977 3 beds 1 baths ∙ 1,670 Sqft ∙ Built 1977
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.65
    •  
  • 1660 Akron Place Claremont, CA 5
    • 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1962
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.66
    •  
PROPERTY LISTING DETAILS
David Kirchnavy
Landmark Mortgage And Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20241389
Last Updated: 11/20/2020
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