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1421 Val Verde Place Glendale, CA 91208

3 Beds 1 Baths 1,590 sqft Built 1934

$1,099,000

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1934
  • Price/Sqft : $691.19
  • 3 Days on Market
  • MLS # : P1-2914
  • Updated Date : 01/15/2021 at 13:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,590 sqft
  • Baths : 1 full
Listing Agent

Dilbeck Real Estate

Listing Agent's Description

Designed in 1934 with classic farmhouse architecture, this stunning 3-bedroom, 1 and 3/4-bath residence blends tradition and functionality into a spectacularly warm and comfortable charm. Visitors enter the grounds by making their way up a long pathway, which is surrounded by lush, mature landscaping. A large covered stone porch surrounds the entire frontage of the home with comfortable adirondack chairs flanking the front door. Upon entering, architectural creativity becomes immediately apparent. To the East there is a spacious, formal dining room with casement picture windows that overlook both the front and private rear gardens. Adjacent to that, you will find the galley kitchen which is anchored by a large fire oven, double sink, stainless steel appliances and an eat in kitchen nook. The West side of the home hosts 3 bedrooms and an additional room that has been designed as a delightful work from home space. The living room can accommodate many different furniture arrangements and is outfitted with a brick hearth fireplace studded with built in bookshelves. Natural oak hardwood, windowpaned ceilings and perfectly framed window outlooks of the yard round out the room. Other features are the originally tiled bathroom, a walk in pantry and a 3/4 bathroom just off the 3rd bedroom. The home occupies a choice 11,049 square foot lot. It is in prime walking distance to all the shops and restaurant options that the highly sought-after community Montrose has to offer.

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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: Sparr Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k909k

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

Neighborhood: Sparr Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17633874

* 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
John C. Fremont Elementary School Primary Regular 690 25 8
Rosemont Middle School Middle Regular 1,269 47 9
Crescenta Valley Senior High School High Regular 2,693 97 9

John C. Fremont Elementary School

  • Education Level: Primary
  • # of students: 690
  • # of teachers: 25
8
GreatSchools Rating

Rosemont Middle School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 47
9
GreatSchools Rating

Crescenta Valley Senior High School

  • Education Level: High
  • # of students: 2,693
  • # of teachers: 97
9
GreatSchools Rating
 

$989,100$1,208,900$1,099,000

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$3,817
Property Tax -$1,057
Property Insurance -$66
Property Management Fees -$177
CASH FLOW
-$1,497

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.

$1,099,000

PROJECTED PRICE

$3,620

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$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$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$296,985

INVESTMENT

$296,985

Down Payment
$274,750
Rehab Estimate
$5,750
Closing Costs
$16,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,817

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $274,750
Loan Amount $824,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,620

    LIST RENT
  • $2.28

    LIST RENT PER SQFT
  • $3,641

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,6203$3,8004$3,9505$4,000
$4,000
RENT COMPS ANALYSIS
  • 1421 Val Verde Place Glendale, CA 2
    • 3 beds 1 baths ∙ 1,590 Sqft ∙ Built 1934 3 beds 1 baths ∙ 1,590 Sqft ∙ Built 1934
    • Rent
    • Rent Per SQFT
    •  
    • $3,620
    • $2.28
    •  
  • 2665 Mayfield Avenue La Crescenta, CA 1
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1942
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.19
    •  
  • 3623 Las Palmas Avenue Glendale, CA 3
    • 3 beds 1 baths ∙ 1,673 Sqft ∙ Built 1932 3 beds 1 baths ∙ 1,673 Sqft ∙ Built 1932
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.27
    •  
  • 3525 Buena Vista Avenue Glendale, CA 4
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1931
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.37
    •  
  • 3469 Las Palmas Ave Avenue Glendale, CA 5
    • 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1925 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1925
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.33
    •  
PROPERTY LISTING DETAILS
Christopher Suarez
Dilbeck Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2914
Last Updated: 01/15/2021
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