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1717 Loma Vista Street Pasadena, CA 91104

3 Beds 1 Baths 2,560 sqft Built 1921

$1,249,999

List Price

$4,730

$4.5K - $5K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1921
  • Price/Sqft : $488.28
  • 8 Days on Market
  • MLS # : BB20227038
  • Updated Date : 10/27/2020 at 15:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,560 sqft
  • Baths : 1 full
Listing Agent

Contempo Realtors

Listing Agent's Description

This 3 bed 3 bath home is located in one of the quietest streets in Pasadena. There is over 2,500 square feet of living space and the lot is huge, over 10,500 square feet. This property has some great bones. In 2020 a new roof was installed along with a new AC/heat system, new wood floors throughout the home, and a new water heater. The bathrooms were remodeled in 2019. One of the best parts of the home has to be the spacious master bedroom. It’s so big it even has a seating area! There is also a really good size basement, perfect for extra storage. There is plenty of room to expand the home in the giant backyard. So if you’re looking for a home in an excellent location, that’s move-in ready, with good bones, on a huge lot, and at a great value, this just might be the home for you.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$1,124,999$1,374,999$1,249,999

PURCHASE PRICE

$4,257$5,203$4,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,730
EXPENSES Loan Payment -$4,612
Property Tax -$1,215
Property Insurance -$89
Property Management Fees -$232
CASH FLOW
-$1,417

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.

$1,249,999

PROJECTED PRICE

$4,730

PROJECTED RENT

0.38%

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$3.5M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$337,000

INVESTMENT

$337,000

Down Payment
$312,500
Rehab Estimate
$5,750
Closing Costs
$18,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,612

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $312,500
Loan Amount $937,499
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$7,812

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,730

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $4,314

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$4,5003$4,730
$4,730
RENT COMPS ANALYSIS
  • 1717 Loma Vista Street Pasadena, CA 3
    • 3 beds 1 baths ∙ 2,560 Sqft ∙ Built 1921 3 beds 1 baths ∙ 2,560 Sqft ∙ Built 1921
    • Rent
    • Rent Per SQFT
    •  
    • $4,730
    • $1.85
    •  
  • 1599 E Orange Grove Boulevard Pasadena, CA 1
    • 3 beds 2 baths ∙ 2,380 Sqft ∙ Built 1922 3 beds 2 baths ∙ 2,380 Sqft ∙ Built 1922
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.64
    •  
  • 1460 Rose Villa Street Pasadena, CA 2
    • 4 beds 1 baths ∙ 2,605 Sqft ∙ Built 1926 4 beds 1 baths ∙ 2,605 Sqft ∙ Built 1926
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.73
    •  
PROPERTY LISTING DETAILS
Daniel Madariaga
Contempo Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB20227038
Last Updated: 10/27/2020
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