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1330 Truitt Street Glendale, CA 91201

3 Beds 1 Baths 1,286 sqft Built 1940

$829,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $644.63
  • 20 Days on Market
  • MLS # : 320003820
  • Updated Date : 11/11/2020 at 15:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,286 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Residential Br

Listing Agent's Description

Great Glendale location - within Disney's Grand Central Campus, down the street from Dreamworks; This charming, single level home on a shaded corner lot with detached 1 bed/1 bath ADU is ready for a new owner! Enter into the cozy living room with fireplace offering a great place to relax and watch a movie..you won't find popcorn on these ceilings! Warm wood floors flow throughout this charming home from living & dining rooms into the bedrooms. Stylish, remodeled bathroom with separate shower & tub is nestled between the bedrooms. This well cared for property with welcoming front yard & low maintenance back-yard calls you to come & enjoy the outdoors. This quaint home offers newer vinyl windows, refinished wood floors, copper plumbing, new waste line, new insulation, new sprinklers, new dishwasher, new shower pan, new flooring in kitchen, pantry and ADU. Close to Disney, Dreamworks, ABC, etc. This home offers more than enough charm to make your dreams come true.

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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: Grand Central

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $177k865k

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

Neighborhood: Grand Central

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200340036003800Rent in $14233874

* 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
Balboa Elementary School Primary Regular 743 26 7
Balboa Elementary School Middle Regular 743 26 7
Herbert Hoover Senior High School High Regular 1,719 70 7

Balboa Elementary School

  • Education Level: Primary
  • # of students: 743
  • # of teachers: 26
7
GreatSchools Rating

Balboa Elementary School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 26
7
GreatSchools Rating

Herbert Hoover Senior High School

  • Education Level: High
  • # of students: 1,719
  • # of teachers: 70
7
GreatSchools Rating
 

$746,100$911,900$829,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$3,059
Property Tax -$797
Property Insurance -$58
Property Management Fees -$147
CASH FLOW
-$1,052

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.

$829,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,435

INVESTMENT

$225,435

Down Payment
$207,250
Rehab Estimate
$5,750
Closing Costs
$12,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,059

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,250
Loan Amount $621,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $2.34

    LIST RENT PER SQFT
  • $3,029

    COMP ESTIMATED VALUE
  • $2.36

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0103$3,2004$3,4005$3,800
$3,800
RENT COMPS ANALYSIS
  • 1330 Truitt Street Glendale, CA 2
    • 3 beds 1 baths ∙ 1,286 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,286 Sqft ∙ Built 1940
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $2.34
    •  
  • 1168 Irving Avenue Glendale, CA 1
    • 3 beds 3 baths ∙ 1,250 Sqft ∙ Built 1931 3 beds 3 baths ∙ 1,250 Sqft ∙ Built 1931
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.40
    •  
  • 1028 Davis Avenue Glendale, CA 3
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1925
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.22
    •  
  • 1130 Graynold Avenue Glendale, CA 4
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1939
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.46
    •  
  • 846 Arden Avenue Glendale, CA 5
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1937
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.34
    •  
PROPERTY LISTING DETAILS
Richard Spracher
Coldwell Banker Residential Br
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320003820
Last Updated: 11/11/2020
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