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619 Hood Drive Claremont, CA 91711

3 Beds 2 Baths 2,034 sqft Built 1961

$749,888

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1961
  • Price/Sqft : $368.68
  • 13 Days on Market
  • MLS # : CV20227135
  • Updated Date : 11/04/2020 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,034 sqft
  • Baths : 2 full
Listing Agent

Re/max Champions

Listing Agent's Description

Welcome to claremont most Exclusive Listing, Exclusive listing pics are not found online. North Claremont’s Prestigious Towne Ranch home. Welcome home to a Beautiful single story, 3 bedroom, 2 bath, approximately 2034 square feet home. Quality built mid-century style home offering an open, bright and airy floor plan perfect for entertaining family and friends. Double door entry with a Spacious living comprising vaulted wood beam ceilings, wood burning fireplace and a dual pane slider wall along the back of the home. Large family room with custom vaulted hard wood cabinetry, fireplace, wet bar and with vaulted ceilings. The Dining area is just off the kitchen which offers custom built wood cabinets, center island, granite counter tops, hard wood floors and a built in refrigerator. Both bathrooms have been fully updated. Dual pane windows and sliders through the majority of the home. The back yard is very peaceful with no neighbors directly behind with mature and magnificent drought tolerant landscaping throughout. The Lot size 10,611 square feet. Detached two car garage with custom built Cabenits along the entire back wall. Convenient location, walk to neighborhood parks, shopping, elementary, junior high and high schools. Close to Claremont Colleges, the Metro-link and "The Village". This Home will not last long!

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: Towne Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Towne Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16653697

* 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
Condit Elementary School Primary Regular 687 26 7
Condit Elementary School Middle Regular 687 26 7
Claremont High School High Regular 2,423 92 9

Condit Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 26
7
GreatSchools Rating

Condit Elementary School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 26
7
GreatSchools Rating

Claremont High School

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

$674,899$824,877$749,888

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$2,767
Property Tax -$791
Property Insurance -$76
Property Management Fees -$156
CASH FLOW
-$609

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.

$749,888

PROJECTED PRICE

$3,180

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 3.6%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,470

INVESTMENT

$204,470

Down Payment
$187,472
Rehab Estimate
$5,750
Closing Costs
$11,248

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,472
Loan Amount $562,416
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$15,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $3,234

    COMP ESTIMATED VALUE
  • $1.59

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1003$3,1004$3,1805$3,300
$3,300
RENT COMPS ANALYSIS
  • 619 Hood Drive Claremont, CA 4
    • 3 beds 2 baths ∙ 2,034 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,034 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $1.56
    •  
  • 1640 Lafayette Road Claremont, CA 1
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1960
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.61
    •  
  • 633 Wellesley Drive Claremont, CA 2
    • 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 1958
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.55
    •  
  • 1098 Syracuse Dr Claremont, CA 3
    • 3 beds 1 baths ∙ 2,004 Sqft ∙ Built 1964 3 beds 1 baths ∙ 2,004 Sqft ∙ Built 1964
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.55
    •  
  • 1122 Vanderbilt Avenue Claremont, CA 5
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1960
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.65
    •  
PROPERTY LISTING DETAILS
Anthony Grynchal
Re/max Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20227135
Last Updated: 11/04/2020
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