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456 Springfield Street Claremont, CA 91711

4 Beds 3 Baths 2,050 sqft Built 1952

$768,000

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $374.63
  • 6 Days on Market
  • MLS # : TR21031914
  • Updated Date : 02/19/2021 at 10:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,050 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Premier Prop

Listing Agent's Description

This beautiful turnkey home is walking distance to Claremont Village! Nearly 1000 sq. ft. was added to this stunning home when it was stripped to the studs and completely remodeled in 2011. The remodeled kitchen is complete with quartz countertops and french vanilla white cabinetry. All windows are dual paned. Enjoy family gatherings in the large family-sized dining room complete with French doors that open to a fantastic outdoor oasis. This is an entertainer's dream space complete with an outdoor kitchen that includes a custom built stacked stone island complete with granite counters, built in gas BBQ, 2 burner cooktop, and a sink with a built-in garbage disposal. The sturdy concrete patio has a large built-in seating area with drains, lighting and electrical. The home now features a large master bedroom suite complete with a walk-in closet, master bathroom with a separate jacuzzi soaking tub and walk-in shower with a custom rain shower head. Working from home? This home has a separate private office and three additional bedrooms, as well as two additional remodeled bathrooms. Save on your electric bill! The home has solar tubes that will cut your energy costs! Don't wait to make this dream home yours!

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)
  • 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]
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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: Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $187k856k

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

Neighborhood: Oakmont

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15583697

* 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
El Roble Intermediate School Middle Regular 1,068 43 7
Claremont High School High Regular 2,423 92 9
El Roble Intermediate School Middle Unknown NA

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

El Roble Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$691,200$844,800$768,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,668
Property Tax -$810
Property Insurance -$77
Property Management Fees -$142
CASH FLOW
-$796

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.

$768,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.9%
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$209,270

INVESTMENT

$209,270

Down Payment
$192,000
Rehab Estimate
$5,750
Closing Costs
$11,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,668

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $192,000
Loan Amount $576,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $2,844

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,6504$2,9005$3,500
$3,500
RENT COMPS ANALYSIS
  • 456 Springfield Street Claremont, CA 4
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1952 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.41
    •  
  • 844 Reed Drive Claremont, CA 1
    • 3 beds 3 baths ∙ 1,813 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,813 Sqft ∙ Built 1958
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.38
    •  
  • 4285 Denver Street Montclair, CA 2
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1955
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.36
    •  
  • 942 Barbara Lane Pomona, CA 3
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1962 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1962
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.27
    •  
  • 252 Blaisdell Drive Claremont, CA 5
    • 5 beds 2 baths ∙ 2,271 Sqft ∙ Built 1962 5 beds 2 baths ∙ 2,271 Sqft ∙ Built 1962
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.54
    •  
PROPERTY LISTING DETAILS
Carmenluz Vizcaino
Keller Williams Premier Prop
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21031914
Last Updated: 02/19/2021
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