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753 Huron Drive Claremont, CA 91711

3 Beds 3 Baths 2,000 sqft Built 2014

$660,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $330.00
  • 2 Days on Market
  • MLS # : IG20261840
  • Updated Date : 12/26/2020 at 11:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,000 sqft
  • Baths : 2 full , 1 half
Listing Agent

Clockwork Property Management

Listing Agent's Description

Immaculate, turn key DR Horton Serrano Single Family Detached Home. This home is the largest model with 2000 sq ft of living space and a wonderful open concept floor plan. There is a gourmet kitchen w/stainless steel appliances, granite counters, large kitchen island, rich dark cabinets and a large pantry. Next is the dining room featuring upgraded built-in cabinets. The family room is open and features the stunning custom fireplace and built-in TV unit. You won't notice, but you will appreciate the hidden consoles behind the TV. Walk outside the sliding glass door to the back private patio which is very low maintenance with beautiful hardscape and planters. Upstairs you will find the spacious loft as well as a laundry room featuring extra upgraded cabinets. The Master Bedroom ensuite has dual sinks, separate tub and shower, and huge walk-in closet! Down the hall you will find two spacious bedrooms, one with a walk-in closet. The second bathroom has dual sinks and a tub shower combo. The attached 2 car garage features tons of storage and an epoxy floor! It also features a private driveway for extra parking. Don't forget the best part! This home has been fitted with solar that will be paid off with the purchase of this home! Located in the desirable Claremont School District and walking distance to Condit Elementary school. Close to shopping, Claremont Colleges, and the 210 freeway. Low taxes and Low HOA. This home is EVERYTHING you have been looking for!

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MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: North Claremont

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: North Claremont

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
 

$594,000$726,000$660,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$2,435
Property Tax -$662
Property Insurance -$75
HOA -$118
Property Management Fees -$150
CASH FLOW
-$381

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.

$660,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 4.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,650

INVESTMENT

$180,650

Down Payment
$165,000
Rehab Estimate
$5,750
Closing Costs
$9,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $165,000
Loan Amount $495,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$23,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $3,055

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7003$2,8004$2,8505$3,060
$3,060
RENT COMPS ANALYSIS
  • 753 Huron Drive Claremont, CA 5
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $1.53
    •  
  • 2057 Liberty Way Claremont, CA 1
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2017
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.60
    •  
  • 682 Huron Place Claremont, CA 2
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2016
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.52
    •  
  • 675 Huron Place Claremont, CA 3
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2017
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.57
    •  
  • 788 Huron Drive Claremont, CA 4
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2014
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.43
    •  
PROPERTY LISTING DETAILS
Nicole Serrano
Clockwork Property Management
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20261840
Last Updated: 12/26/2020
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