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

1520 Opechee Way Glendale, CA 91208

3 Beds 3 Baths 2,273 sqft Built 1926

$1,195,000

List Price

$4,430

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1926
  • Price/Sqft : $525.74
  • 3 Days on Market
  • MLS # : 320004160
  • Updated Date : 11/27/2020 at 14:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,273 sqft
  • Baths : 3 full
Listing Agent

Craig Estates & Fine Propertie

Listing Agent's Description

In 1925, Mrs. L.R. Teal commissioned the design and construction of this elegant single story Spanish next door to the historical Catalina Verdugo Adobe in what is now the heart of the Verdugo Woodlands neighborhood. Mrs. Teal's exquisite taste is clearly evident in the soaring front picture window capped with a beautiful mission style parapet. The lush front grounds and path lead to a private front courtyard that is just the place to relax and enjoy the end of the day. The formal entry opens to the grand formal living room with a soaring ceiling, custom wood trim, fireplace, and that gorgeous picture window. The dining room is formal as well. The kitchen and breakfast room were updated with oak cabinetry and tile counters. The central hall leads to all three large bedrooms that each have their own updated baths. The master suite enjoys a huge walk-in closet and its own master bath. Features include a Spanish tile roof, central air and heating, added insulation in the attic and walls, bolted foundation, an over-sized laundry room, and an attached three car garage.

SEE MORE

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: Verdugo Woodlands

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1007k

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

Neighborhood: Verdugo Woodlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $17844227

* 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
Verdugo Woodlands Elementary School Primary Regular 818 32 7
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6

Verdugo Woodlands Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 32
7
GreatSchools Rating

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students: 1,183
  • # of teachers: 46
8
GreatSchools Rating

Glendale Senior High School

  • Education Level: High
  • # of students: 2,582
  • # of teachers: 101
6
GreatSchools Rating
 

$1,075,500$1,314,500$1,195,000

PURCHASE PRICE

$3,987$4,873$4,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,430
EXPENSES Loan Payment -$4,409
Property Tax -$1,199
Property Insurance -$82
Property Management Fees -$217
CASH FLOW
-$1,477

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.

$1,195,000

PROJECTED PRICE

$4,430

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.5%
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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$322,425

INVESTMENT

$322,425

Down Payment
$298,750
Rehab Estimate
$5,750
Closing Costs
$17,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,409

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $298,750
Loan Amount $896,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,914

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,430

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $3,947

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$4,0003$4,4304$4,500
$4,500
RENT COMPS ANALYSIS
  • 1520 Opechee Way Glendale, CA 3
    • 3 beds 3 baths ∙ 2,273 Sqft ∙ Built 1926 3 beds 3 baths ∙ 2,273 Sqft ∙ Built 1926
    • Rent
    • Rent Per SQFT
    •  
    • $4,430
    • $1.95
    •  
  • 803 N Glendale Avenue Glendale, CA 1
    • 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 1929 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 1929
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.77
    •  
  • 2321 Bonita Drive Glendale, CA 2
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1938 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1938
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.64
    •  
  • 1018 N Jackson Street Glendale, CA 4
    • 4 beds 2 baths ∙ 2,496 Sqft ∙ Built 1927 4 beds 2 baths ∙ 2,496 Sqft ∙ Built 1927
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.80
    •  
PROPERTY LISTING DETAILS
Craig Farestveit
Craig Estates & Fine Propertie
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320004160
Last Updated: 11/27/2020
BESbswy