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1450 N Avon Street Burbank, CA 91505

3 Beds 2 Baths 1,600 sqft Built 1939

$929,000

List Price

$3,770

$3.5K - $4K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $580.63
  • 5 Days on Market
  • MLS # : BB20228320
  • Updated Date : 11/21/2020 at 11:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Wmc

Listing Agent's Description

This spacious single-family home with a welcoming front yard is move in ready! As you enter the large main room, with beautiful hardwood floors, think of relaxed family dinners and game nights. The two spacious front bedrooms are perfectly placed with a full bath in between. The updated kitchen is around the corner, in the center of the house, with soft close wood cabinets, Caesarstone Quartz countertops and GE Café appliances. Off of the kitchen is a quaint open space that could be used as an office or playroom. Continue through the home and you’ll find an awesome entertainment space, perfect for movie nights with built in 7.1 surround sound. There’s even a bonus atrium for quiet relaxation by the fire pit. The massive master bedroom has spacious closets and newly renovated master bath. Other upgrades include wired sound throughout and custom plantation shutters. The park like backyard has a new above ground steel frame pool, a patio space for dining, a lily pad pond and a tree house to die for! The detached passthrough garage is perfect for a home gym, all your toys or possible ADU conversion. Close proximity to top notch Burbank schools, and Magnolia Park’s shops and restaurants. This house will go fast. Hurry and schedule your showing today! Welcome Home!

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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: Northwest District

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Northwest District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16833697

* 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
Bret Harte Elementary School Primary Regular 676 23 8
Luther Burbank Middle School Middle Regular 1,102 45 6
John Burroughs High School High Regular 2,649 108 8

Bret Harte Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 23
8
GreatSchools Rating

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 45
6
GreatSchools Rating

John Burroughs High School

  • Education Level: High
  • # of students: 2,649
  • # of teachers: 108
8
GreatSchools Rating
 

$836,100$1,021,900$929,000

PURCHASE PRICE

$3,393$4,147$3,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,770
EXPENSES Loan Payment -$3,428
Property Tax -$866
Property Insurance -$66
Property Management Fees -$185
CASH FLOW
-$774

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.

$929,000

PROJECTED PRICE

$3,770

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.2%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$251,935

INVESTMENT

$251,935

Down Payment
$232,250
Rehab Estimate
$5,750
Closing Costs
$13,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,428

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $232,250
Loan Amount $696,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$18,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,770

    LIST RENT
  • $2.36

    LIST RENT PER SQFT
  • $3,776

    COMP ESTIMATED VALUE
  • $2.36

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,7703$3,8504$3,9005$3,995
$3,995
RENT COMPS ANALYSIS
  • 1450 N Avon Street Burbank, CA 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1939
    • Rent
    • Rent Per SQFT
    •  
    • $3,770
    • $2.36
    •  
  • 1438 N Pepper Street Burbank, CA 1
    • 3 beds 1 baths ∙ 1,794 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,794 Sqft ∙ Built 1953
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.01
    •  
  • 1381 N Catalina Street Burbank, CA 3
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1939 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1939
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.41
    •  
  • 1328 N Catalina Street Burbank, CA 4
    • 4 beds 2 baths ∙ 1,557 Sqft ∙ Built 1939 4 beds 2 baths ∙ 1,557 Sqft ∙ Built 1939
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.50
    •  
  • 1448 N Niagara Street Burbank, CA 5
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1940
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.52
    •  
PROPERTY LISTING DETAILS
Anne Marie Osgood
Keller Williams Wmc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB20228320
Last Updated: 11/21/2020
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