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1207 N Catalina Street Burbank, CA 91505

3 Beds 2 Baths 1,422 sqft Built 1946

$998,000

List Price

$3,720

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $701.83
  • 3 Days on Market
  • MLS # : 21698230
  • Updated Date : 02/27/2021 at 07:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,422 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

If you appreciate some great outdoor space, you certainly do not want to miss this one. Proudly settled on a beautifully tree lined street in the heart of Burbank you will find this adorable 3 bed 2 bath home which has been lovingly maintained. Offering a spacious and functional floor plan, the property flows seamlessly from the open kitchen and family room to the amazing backyard space which is perfect for entertaining. The oversized master bedroom has an en-suite bathroom, walk in closet, and French Doors that open to the spacious patio, an ideal place to enjoy a book under the afternoon sun. With the mature hedges surrounding the large grassy backyard, the property offers some wonderful privacy. As an added bonus there's an additional 250 sq ft room off of the finished garage which could make a great home office, gym, studio, creative space, or potential ADU. Some recent upgrades to the property include newer plumbing, newer windows and new LED lighting throughout.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chandler Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Chandler Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16803697

* 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
Bret Harte Elementary School Primary Regular 676 23 8
Luther Burbank Middle School Middle Regular 1,102 45 6
John Burroughs High School High Regular 2,649 108 8

Bret Harte Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 23
8
GreatSchools Rating

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 45
6
GreatSchools Rating

John Burroughs High School

  • Education Level: High
  • # of students: 2,649
  • # of teachers: 108
8
GreatSchools Rating
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,348$4,092$3,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,720
EXPENSES Loan Payment -$3,466
Property Tax -$931
Property Insurance -$61
Property Management Fees -$182
CASH FLOW
-$921

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.

$998,000

PROJECTED PRICE

$3,720

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.6%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,466

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$10,083

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,720

    LIST RENT
  • $2.62

    LIST RENT PER SQFT
  • $3,726

    COMP ESTIMATED VALUE
  • $2.62

    COMP AVG. RENT PER SQFT
Comps Range
$3,720
1$3,7202$3,7503$3,8504$3,9005$4,000
$4,000
RENT COMPS ANALYSIS
  • 1207 N Catalina Street Burbank, CA 1
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1946
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,720
    • $2.62
    •  
  • 1412 N Fairview Street Burbank, CA 2
    • 3 beds 1 baths ∙ 1,262 Sqft ∙ Built 1939 3 beds 1 baths ∙ 1,262 Sqft ∙ Built 1939
    property image
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.97
    •  
  • 1381 N Catalina Street Burbank, CA 3
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1939 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1939
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.41
    •  
  • 1328 N Catalina Street Burbank, CA 4
    • 4 beds 2 baths ∙ 1,557 Sqft ∙ Built 1939 4 beds 2 baths ∙ 1,557 Sqft ∙ Built 1939
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.50
    •  
  • 2701 W Chandler Boulevard Burbank, CA 5
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1944
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.60
    •  
PROPERTY LISTING DETAILS
John Anthony Christopher
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21698230
Last Updated: 02/27/2021
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