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1018 N Jackson Street Glendale, CA 91207

4 Beds 2 Baths 2,496 sqft Built 1927

$1,150,000

List Price

$4,370

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1927
  • Price/Sqft : $460.74
  • 7 Days on Market
  • MLS # : 320005159
  • Updated Date : 03/03/2021 at 10:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,496 sqft
  • Baths : 2 full
Listing Agent

Elite Real Estate & Management

Listing Agent's Description

Spacious two story home in Rossmoyne neighborhood. The first floor offers bright living room w/ nice front window, fireplace, formal dining room w/ French doors, updated kitchen with breakfast nook, good size pantry and CA basement. New updated bathroom, three bedrooms, one is used as office with built-ins book shelves, extra large family room with fireplace ,lots of windows & French doors leading to the nice backyard with fruit trees. Gleaming hardwood floors through out the first floor. Upstairs Master suite with fireplace and updated bathroom.. This is a must see home.!!!

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

PRICE & RENT TRENDS

Neighborhood: Rossmoyne

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $199k953k

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

Neighborhood: Rossmoyne

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17843962

* 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
Richardson D. White Elementary School Primary Regular 935 34 8
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6

Richardson D. White Elementary School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 34
8
GreatSchools Rating

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students: 1,183
  • # of teachers: 46
8
GreatSchools Rating

Glendale Senior High School

  • Education Level: High
  • # of students: 2,582
  • # of teachers: 101
6
GreatSchools Rating
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,933$4,807$4,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,370
EXPENSES Loan Payment -$3,994
Property Tax -$1,106
Property Insurance -$87
Property Management Fees -$214
CASH FLOW
-$1,032

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.

$1,150,000

PROJECTED PRICE

$4,370

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 9.3%
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$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,994

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$12,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,370

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $4,618

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,3703$4,950
$4,950
RENT COMPS ANALYSIS
  • 1018 N Jackson Street Glendale, CA 2
    • 4 beds 2 baths ∙ 2,496 Sqft ∙ Built 1927 4 beds 2 baths ∙ 2,496 Sqft ∙ Built 1927
    • Rent
    • Rent Per SQFT
    •  
    • $4,370
    • $1.75
    •  
  • 2321 Bonita Drive Glendale, CA 1
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1938 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1938
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.64
    •  
  • 1635 Grandview Avenue Glendale, CA 3
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1940 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1940
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $2.06
    •  
PROPERTY LISTING DETAILS
Amal Abdou
Elite Real Estate & Management
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320005159
Last Updated: 03/03/2021
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