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466 Marygrove Road Claremont, CA 91711

4 Beds 1 Baths 1,853 sqft Built 1959

$699,900

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $377.71
  • 3 Days on Market
  • MLS # : PW21058381
  • Updated Date : 03/20/2021 at 10:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,853 sqft
  • Baths : 1 full
Listing Agent

Century 21 Masters

Listing Agent's Description

Claremont Cinderella Homes! Welcome to wildflower wonderland! Beautiful curb appeal! Front porch is so inviting and peaceful! As you walk through the front door your eyes are immediately drawn to the rich, original and maintained hardwood floors! The open and bright family room with fireplace for those chilly evenings and dining room overlook the beautiful backyard! You will be drawn to the private backyard through the french doors. You wont want to leave! The covered patio with fans, great yard, block walls, plenty of fruit trees which include, peach, orange, lemon and cherry lends itself to entertaining and fun for all! l! There have been many a gathering here! The kitchen with seating area has plenty of storage and counter space, white cabinetry, tile flooring, dishwasher, microwave, and double oven! Off of the kitchen is the laundry area and 3/4 bath! Down a few steps and you will find the mother in law quarters or whatever your heart desires! It includes a den with bedroom and small area for office, sewing room, library or whatever you decide! This conversion has been professionally and tastefully thought through! It wont disappoint! The Master bedroom and secondary bedrooms are nice size and there is a full hall bath, again tastefully done! The electrical panel has been upgraded and central air and forced air heating throughout! Roof was redone 11 years ago! Expanded driveway and large carport ! Move in ready! What are you waiting for?

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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 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: 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
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
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,431
Property Tax -$738
Property Insurance -$72
Property Management Fees -$130
CASH FLOW
-$711

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.

$699,900

PROJECTED PRICE

$2,660

PROJECTED RENT

0.38%

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-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $2,918

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5003$2,5004$2,6605$3,200
$3,200
RENT COMPS ANALYSIS
  • 466 Marygrove Road Claremont, CA 4
    • 4 beds 1 baths ∙ 1,853 Sqft ∙ Built 1959 4 beds 1 baths ∙ 1,853 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.44
    •  
  • 1931 Wildrose Avenue Pomona, CA 1
    • 3 beds 1 baths ∙ 1,551 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,551 Sqft ∙ Built 1954
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.52
    •  
  • 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 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.66
    •  
  • 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
Deborah Burke
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21058381
Last Updated: 03/20/2021
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