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1428 Casa Grande Street Pasadena, CA 91104

3 Beds 2 Baths 1,692 sqft Built 1929

$998,000

List Price

$3,720

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $589.83
  • 3 Days on Market
  • MLS # : P1-3824
  • Updated Date : 03/19/2021 at 13:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,692 sqft
  • Baths : 2 full
Listing Agent

Dilbeck Real Estate

Listing Agent's Description

Picturesque Tudor style 3 Bed 2 full bath property sits amongst an iconic palm tree lined street with the most splendid kerb appeal. Large mature tree in front with established shrubs and fruit trees. Private gated driveway leading to detached double garage.Spacious entrance with entry closet. Living room with coved ceiling, hardwood floors, bay window with dark wood plantation shutters, ledge seating area, character stone gas fireplace, french doors leading to a bright airy sun room with terracotta tiles. Double french doors lead from sunroom on to a beautifully decked patio area perfect for California outdoor entertaining.Dining room with art deco ceiling light, large window overlooking the front yard, beautiful archway leading to the kitchen. Kitchen with cream color wood cabinets, gas vintage stove, bay window. In house laundry with storage area. Door leading to California basement. Downstairs full bathroom with gorgeous tiled flooring. Property in need of some TLC.3 upper level bedrooms all with walk-in closets with windows, one of the bedrooms with exquisite spacious balcony sitting area. One full bathroom.Close to Lake Ave shops and restaurants.

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MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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: North Pasadena Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1122k

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

Neighborhood: North Pasadena Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17843810

* 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
Webster Elementary School Primary Regular 474 18 6
Charles W. Eliot Arts Magnet Academy Middle Regular 504 27 2
Pasadena High School High Regular 1,903 84 6

Webster Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 18
6
GreatSchools Rating

Charles W. Eliot Arts Magnet Academy

  • Education Level: Middle
  • # of students: 504
  • # of teachers: 27
2
GreatSchools Rating

Pasadena High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 84
6
GreatSchools Rating
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,348$4,092$3,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,720
EXPENSES Loan Payment -$3,466
Property Tax -$970
Property Insurance -$68
Property Management Fees -$182
CASH FLOW
-$967

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.

$998,000

PROJECTED PRICE

$3,720

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,466

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$8,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,720

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $4,052

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$3,650
1$3,6502$3,7203$3,8004$3,9505$4,600
$4,600
RENT COMPS ANALYSIS
  • 1428 Casa Grande Street Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1929
    • Rent
    • Rent Per SQFT
    •  
    • $3,720
    • $2.20
    •  
  • 742 N Mentor Avenue Pasadena, CA 1
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1920
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.37
    •  
  • 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
    •  
  • 1997 Casa Grande Street Pasadena, CA 4
    • 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1926
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.31
    •  
  • 1002 N Catalina Avenue Pasadena, CA 5
    • 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 1914 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 1914
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.67
    •  
PROPERTY LISTING DETAILS
Anahid Fekete
Dilbeck Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-3824
Last Updated: 03/19/2021
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