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1320 Ethel Street Glendale, CA 91207

3 Beds 2 Baths 2,536 sqft Built 1929

$1,195,000

List Price

$4,270

$4K - $4.5K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $471.21
  • 6 Days on Market
  • MLS # : P1-2690
  • Updated Date : 12/23/2020 at 13:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,536 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Located in the highly sought-after, Glendale neighborhood of, Rossmoyne, this charming home has been responsibly maintained by the same family for 60 years. Step into the living room with inviting high ceilings and beautifully exposed wood beams. The kitchen has plenty storage space and brick details throughout. There are two dining rooms, washer/dryer hook-ups, and direct access to the rear patio/yard. The very well maintained wine cellar is perfect for keeping your collection cool / fresh. The large Primary Bedroom features a private Bathroom, with plenty of storage, beautiful bath tub, lovely etched glass work throughout, and a skylight that pours in an abundance of natural light. The second Bedroom features a sliding glass door out to the rear patio. The third bedroom has lots of natural light and spacious closet space. The private backyard features thriving gardens, great size pool, a lovely pond, a workshop/shed with lovely views of the mountains. The spacious (bonus) family room has a cozy brick fireplace that has direct access to the peaceful backyard. There is central HVAC, copper plumbing, and an attached 2 car Garage. Nearby to Americana At Brand, Film Studios, and DTLA is right there via the 5, 134 & 2 Fwys.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

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
 

$1,075,500$1,314,500$1,195,000

PURCHASE PRICE

$3,843$4,697$4,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,270
EXPENSES Loan Payment -$4,409
Property Tax -$1,149
Property Insurance -$88
Property Management Fees -$209
CASH FLOW
-$1,586

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.

$1,195,000

PROJECTED PRICE

$4,270

PROJECTED RENT

0.36%

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$20k

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$322,425

INVESTMENT

$322,425

Down Payment
$298,750
Rehab Estimate
$5,750
Closing Costs
$17,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,409

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $298,750
Loan Amount $896,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$2,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,270

    LIST RENT
  • $1.68

    LIST RENT PER SQFT
  • $4,362

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,2703$4,500
$4,500
RENT COMPS ANALYSIS
  • 1320 Ethel Street Glendale, CA 2
    • 3 beds 2 baths ∙ 2,536 Sqft ∙ Built 1929 3 beds 2 baths ∙ 2,536 Sqft ∙ Built 1929
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,270
    • $1.68
    •  
  • 2321 Bonita Drive Glendale, CA 1
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1938 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1938
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.64
    •  
  • 1018 N Jackson Street Glendale, CA 3
    • 4 beds 2 baths ∙ 2,496 Sqft ∙ Built 1927 4 beds 2 baths ∙ 2,496 Sqft ∙ Built 1927
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.80
    •  
PROPERTY LISTING DETAILS
Tara Fidanian
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2690
Last Updated: 12/23/2020
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