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629 Foxpark Drive Claremont, CA 91711

3 Beds 2 Baths 1,488 sqft Built 1956

$769,500

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $517.14
  • 5 Days on Market
  • MLS # : CV21150229
  • Updated Date : 07/12/2021 at 16:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,488 sqft
  • Baths : 2 full
Listing Agent

Alba Realty

Listing Agent's Description

Wow! There's no need to book anymore flights to your favorite tropical paradise, not once you see this 3 bed 2 bath oasis in a neighborhood that is a hidden gem. Where should I start? The kitchen and living room were organized by a a meticulous interior specialist. The main bedroom is connected to a closet room big enough for any fashion aficionado. Don't worry that there's not enough room for your shoes, clothes, or accessories here, because there certainly is. The living room opens into your astonishing tropical backyard, where the palapa has TVs, a bar, a spa, pizza oven, and bbq, AND is adjacent to the salt water swimming pool. Downtown Claremont is a very short ride away. The Claremont School District is among the best in California and the 7 Claremont Colleges are known as the IVY League Schools of the West. You must see to appreciate. Come quickly. See you in escrow.

SEE MORE

MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Pomona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $139k720k

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

Neighborhood: Pomona

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12572941

* 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
 

$692,550$846,450$769,500

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,673
Property Tax -$863
Property Insurance -$63
Property Management Fees -$135
CASH FLOW
-$984

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$769,500

PROJECTED PRICE

$2,750

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

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$209,668

INVESTMENT

$209,668

Down Payment
$192,375
Rehab Estimate
$5,750
Closing Costs
$11,543

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,673

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $192,375
Loan Amount $577,125
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $2,749

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7503$2,7554$2,8505$3,250
$3,250
RENT COMPS ANALYSIS
  • 629 Foxpark Drive Claremont, CA 2
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.85
    •  
  • 227 Marywood Avenue Claremont, CA 1
    • 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
    •  
  • 2928 Grayburn Street Pomona, CA 3
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1956
    LEASED 05/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,755
    • $1.92
    •  
  • 4050 Las Casas Avenue Claremont, CA 4
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1955
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.79
    •  
  • 512 California Drive Claremont, CA 5
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1957
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.02
    •  
PROPERTY LISTING DETAILS
Mark Alba
Alba Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21150229
Last Updated: 07/12/2021
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