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539 Rockford Drive Claremont, CA 91711

4 Beds 2 Baths 2,244 sqft Built 1962

$839,900

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $374.29
  • 4 Days on Market
  • MLS # : CV21008548
  • Updated Date : 01/14/2021 at 14:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,244 sqft
  • Baths : 2 full
Listing Agent

The Wright Associated Company

Listing Agent's Description

Beautifully redone home in Claremont, walking distance to the Claremont Colleges, Chaparral Park, and shopping center. This property features a brand new kitchen with plenty of functional counter space and storage including a double convection oven. The entire house has new paint inside and out, new flooring, all LED lighting, a great room/game room, new landscaping, RV parking, a pool, and much more. There is a great view of the neighborhood from the family room and a large master bedroom, this home is truly turnkey and ready for move-in.

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)
  • 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)

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
 

$755,910$923,890$839,900

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$2,917
Property Tax -$886
Property Insurance -$81
Property Management Fees -$157
CASH FLOW
-$831

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.

$839,900

PROJECTED PRICE

$3,210

PROJECTED RENT

0.38%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$228,324

INVESTMENT

$228,324

Down Payment
$209,975
Rehab Estimate
$5,750
Closing Costs
$12,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,917

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $209,975
Loan Amount $629,925
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,919

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $3,590

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$3,210
1$3,2102$3,5003$3,5004$3,5005$3,800
$3,800
RENT COMPS ANALYSIS
  • 539 Rockford Drive Claremont, CA 1
    • 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $1.43
    •  
  • 518 Charleston Drive Claremont, CA 2
    • 4 beds 1 baths ∙ 2,232 Sqft ∙ Built 1975 4 beds 1 baths ∙ 2,232 Sqft ∙ Built 1975
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.57
    •  
  • 1713 Shenandoah Drive Claremont, CA 3
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1981
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.66
    •  
  • 252 Blaisdell Drive Claremont, CA 4
    • 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
    •  
  • 606 Martin Way Claremont, CA 5
    • 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1977
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.63
    •  
PROPERTY LISTING DETAILS
Thomas Gibson
The Wright Associated Company
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21008548
Last Updated: 01/14/2021
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