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1155 N Cedar Street Glendale, CA 91207

3 Beds 2 Baths 1,872 sqft Built 1938

$1,275,000

List Price

$4,130

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1938
  • Price/Sqft : $681.09
  • 5 Days on Market
  • MLS # : SR21030590
  • Updated Date : 03/03/2021 at 10:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,872 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Charming corner home in the beautiful Rossmoyne neighborhood of Glendale. Built in 1938, the house combines original charm with modern living. This light and bright home features a large step down living room, formal dining room, separate breakfast room with corner built-ins, gleaming hardwood floors and crown moldings. The kitchen is spacious and has ample counter and cabinet space. In addition to the 3 bedrooms, there is a large finished basement/bonus room perfect for a home office, gym, or guest quarters. The lush backyard is great for outdoor entertaining. Behind the detached 2 car garage there is a laundry room and a wonderful storage/work room. Many features of the home including the roof, air conditioning unit and water heater were updated in 2019. Don't miss this wonderful property in Glendale's most sought after neighborhood.

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
 

$1,147,500$1,402,500$1,275,000

PURCHASE PRICE

$3,717$4,543$4,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,130
EXPENSES Loan Payment -$4,429
Property Tax -$1,226
Property Insurance -$72
Property Management Fees -$202
CASH FLOW
-$1,799

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.

$1,275,000

PROJECTED PRICE

$4,130

PROJECTED RENT

0.32%

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

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$343,625

INVESTMENT

$343,625

Down Payment
$318,750
Rehab Estimate
$5,750
Closing Costs
$19,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,429

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $318,750
Loan Amount $956,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$392

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,130

    LIST RENT
  • $2.21

    LIST RENT PER SQFT
  • $4,357

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,8003$4,1304$4,2005$4,200
$4,200
RENT COMPS ANALYSIS
  • 1155 N Cedar Street Glendale, CA 3
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $4,130
    • $2.21
    •  
  • 733 N Glendale Avenue Glendale, CA 1
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1931
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.29
    •  
  • 520 N Howard Street Glendale, CA 2
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1936 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1936
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.34
    •  
  • 1101 N Kenilworth Avenue Glendale, CA 4
    • 4 beds 1 baths ∙ 1,863 Sqft ∙ Built 1924 4 beds 1 baths ∙ 1,863 Sqft ∙ Built 1924
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.25
    •  
  • 939 N Isabel Street Glendale, CA 5
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1925 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1925
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.43
    •  
PROPERTY LISTING DETAILS
Marcia Gale
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21030590
Last Updated: 03/03/2021
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