Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1445 Paloma Street Pasadena, CA 91104

3 Beds 1 Baths 1,618 sqft Built 1921

$995,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1921
  • Price/Sqft : $614.96
  • 2 Days on Market
  • MLS # : P1-2605
  • Updated Date : 12/12/2020 at 10:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,618 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Built in 1921, this Pasadena charmer is on the market for the first time in 50 years. Featuring 3 bedrooms / 2 bathrooms and original hardwood flooring, this house is waiting for someone to make it into their home. Large landscaped lot with garage access via the back alley. Conveniently located near freeway access and all that Pasadena has to offer.

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: 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
Jefferson Elementary School Primary Regular 401 15 3
Charles W. Eliot Arts Magnet Academy Middle Regular 504 27 2
Pasadena High School High Regular 1,903 84 6

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 15
3
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
 

$895,500$1,094,500$995,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,671
Property Tax -$967
Property Insurance -$66
Property Management Fees -$172
CASH FLOW
-$1,376

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.

$995,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.35%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$269,425

INVESTMENT

$269,425

Down Payment
$248,750
Rehab Estimate
$5,750
Closing Costs
$14,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,671

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $248,750
Loan Amount $746,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $3,814

    COMP ESTIMATED VALUE
  • $2.36

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,6503$3,8004$3,9505$4,350
$4,350
RENT COMPS ANALYSIS
  • 1445 Paloma Street Pasadena, CA 1
    • 3 beds 1 baths ∙ 1,618 Sqft ∙ Built 1921 3 beds 1 baths ∙ 1,618 Sqft ∙ Built 1921
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.16
    •  
  • 742 N Mentor Avenue Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1920
    property image
    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
    property image
    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
    property image
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.31
    •  
  • 1002 N Catalina Avenue Pasadena, CA 5
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1914 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1914
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $2.52
    •  
PROPERTY LISTING DETAILS
Jaime Stoney
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2605
Last Updated: 12/12/2020
BESbswy