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1319 Loreto Drive Glendale, CA 91207

3 Beds 2 Baths 1,817 sqft Built 1930

$1,150,000

List Price

$3,920

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1930
  • Price/Sqft : $632.91
  • 116 Days on Market
  • MLS # : SR20157598
  • Updated Date : 11/27/2020 at 20:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,817 sqft
  • Baths : 2 full
Listing Agent

Realty Executives Homes

Listing Agent's Description

A Glendale Historical Society Home! Very rare listing in the Rossmoyne area! This home has not been on the market for over 70 years. Highly sought after Spanish style, built in 1930. Very clean and mostly untouched. Stone entry leading all the way up the stairs, wrought iron handrails, vaulted wood ceilings in a light and large family room, fireplace remodeled and a sliding door to backyard. Bonus room, office or bedroom option downstairs with full bathroom and shower. Formal dining room, separate kitchen eating area with built in cabinets, period kitchen and foyer, plus a back porch area off kitchen. Enclosed closet in foyer can be converted back to expose stairway to partially unfinished basement under the home. Original wood flooring all newly refinished and 5 coats of Bona Traffic. Home also has an enclosed room addition upstairs for entertaining, bonus room or? Not part of the assessor's square footage. Upstairs bathroom has original period tiles, bathtub and separate shower. Bathroom floor currently has vinyl, but might have the matching bathroom tile underneath. Master bedroom has a walk in closet with a window for extra lighting and another added closet built in. Wood flooring throughout. The master bedroom which also has a slider and a small balcony. Second bedroom upstairs also has wood flooring and closet. The enclosed addition upstairs can be removed to it's original open deck with railing. Note that this home has two bedrooms up and the addition.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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

$3,528$4,312$3,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,920
EXPENSES Loan Payment -$4,243
Property Tax -$1,106
Property Insurance -$71
Property Management Fees -$192
CASH FLOW
-$1,692

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

$3,920

PROJECTED RENT

0.34%

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

$4,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$574

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,920

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $4,320

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,8003$3,9004$3,9205$4,500
$4,500
RENT COMPS ANALYSIS
  • 1319 Loreto Drive Glendale, CA 4
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1930
    • Rent
    • Rent Per SQFT
    •  
    • $3,920
    • $2.16
    •  
  • 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
    •  
  • 1009 N Isabel Street Glendale, CA 3
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1925 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1925
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.29
    •  
  • 1232 N Cedar Street Glendale, CA 5
    • 3 beds 3 baths ∙ 1,738 Sqft ∙ Built 1940 3 beds 3 baths ∙ 1,738 Sqft ∙ Built 1940
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.59
    •  
PROPERTY LISTING DETAILS
Lance Sedivec
Realty Executives Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20157598
Last Updated: 11/27/2020
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