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PROPERTY INFO
FACTS
- Single Family
- Built In 1948
- Price/Sqft : $607.23
- 6 Days on Market
- MLS # : P1-3263
- Updated Date : 02/12/2021 at 15:49
CONSTRUCTION
- Beds : 3
- Floor Size : 1,688 sqft
- Baths : 1 full
Listing Agent
Cynthia Cohn & Associates, Inc
Listing Agent's Description
Beautifully remodeled 3 bedroom 2 bath Ranch style home located in desirable NE Pasadena. Built in 1948, and set on a quiet cul-de-sac w/ a sprawling front yard, this home offers stunning San Gabriel Mountain views and is in excellent proximity to East Washington Village, Eaton Canyon Nature Area, the Saturday Pasadena Farmers' Market, and Victory Park. The sunny floor plan is open and spacious and includes a formal living & dining room with gas fireplace, gleaming hardwood floors, and recessed lighting. The home also features a large family room addition, complete w/ new windows, and French doors leading to the rear yard, covered patio, and detached 2-car garage. The galley style eat-in kitchen is warm with honey colored wood cabinetry, granite countertops, stainless steel appliances, ceramic tile flooring, a window box, and recessed lighting. There are 3 well-proportioned bedrooms, including 2 with built-in desks that are perfect for school work or for a home office. Additional highlights include: A recently remodeled full bath with oversized shower, dual vanity, and free standing soaking tub; a separate laundry area w/ pantry, storage, and exterior access; a new forced heat and A/C system; upgraded electrical; newer windows throughout; new hot water heater; multiple ceiling fans; and a rear yard w/ established fig and lemon trees. Don't miss this opportunity to create a home 'Where Your Home Happens.'
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Brigden Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Brigden Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,700 |
| EXPENSES | Loan Payment | -$3,560 |
| Property Tax | -$1,098 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$181 | |
|
CASH FLOW
-$1,207
|
||
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.
$1,025,000
PROJECTED PRICE
$3,700
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$277,375
LOAN DETAILS
$3,560
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $256,250 |
| Loan Amount | $768,750 |
0.67
YEARS SAVED
$2,340
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,700
LIST RENT -
$2.19
LIST RENT PER SQFT
-
$3,840
COMP ESTIMATED VALUE -
$2.28
COMP AVG. RENT PER SQFT
Comps Range
-
1293 Westlyn Place Pasadena, CA 2
- 3 beds 1 baths ∙ 1,688 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,688 Sqft ∙ Built 1948
- Rent
- Rent Per SQFT
- $3,700
- $2.19
-
2325 Las Lunas Street Pasadena, CA 1
- 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1948
LEASED 01/15/21- Rent
- Rent Per SQFT
- $3,700
- $2.13
-
1872 Queensberry Road Pasadena, CA 3
- 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1936 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1936
LEASED 08/15/20- Rent
- Rent Per SQFT
- $3,800
- $2.23
-
1405 N Grand Oaks Avenue Pasadena, CA 4
- 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1939 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1939
LEASED 01/08/21- Rent
- Rent Per SQFT
- $3,800
- $2.53
-
1532 N Roosevelt Avenue Pasadena, CA 5
- 3 beds 1 baths ∙ 1,741 Sqft ∙ Built 1936 3 beds 1 baths ∙ 1,741 Sqft ∙ Built 1936
LEASED 11/06/20- Rent
- Rent Per SQFT
- $3,850
- $2.21
PROPERTY LISTING DETAILS
Cynthia Cohn & Associates, Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: P1-3263
Last Updated: 02/12/2021
