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1920 Chilton Drive Glendale, CA 91201

3 Beds 1 Baths 1,848 sqft Built 1926

$1,100,000

List Price

$3,770

$3.5K - $4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1926
  • Price/Sqft : $595.24
  • 10 Days on Market
  • MLS # : 320004766
  • Updated Date : 02/06/2021 at 20:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,848 sqft
  • Baths : 1 full
Listing Agent

Nexthome Luxe Group

Listing Agent's Description

This Spanish home boasts original character and charm throughout. Original details include a step down living room with hardwood floors, cathedral ceiling and a fireplace. Tree top views are enjoyed from the balcony, which overlooks a sparking pool. The main floor features two bedrooms that are nicely separated by the full bath. On the lower level, the third bedroom and spacious den await. Updating the bath and generous laundry room on this lower level can transform this space into a private suite making it an ideal situation for extended family living. Don't miss out on this very special home available for the first time in 45 years!

SEE MORE

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: El Miradero

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1008k

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

Neighborhood: El Miradero

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844026

* 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
Eleanor J. Toll Middle School Middle Regular 1,156 44 7
Herbert Hoover Senior High School High Regular 1,719 70 7

Eleanor J. Toll Middle School

  • Education Level: Middle
  • # of students: 1,156
  • # of teachers: 44
7
GreatSchools Rating

Herbert Hoover Senior High School

  • Education Level: High
  • # of students: 1,719
  • # of teachers: 70
7
GreatSchools Rating
 

$990,000$1,210,000$1,100,000

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 -$3,821
Property Tax -$1,058
Property Insurance -$72
Property Management Fees -$185
CASH FLOW
-$1,365

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.

$1,100,000

PROJECTED PRICE

$3,770

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.8%
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-$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$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,557

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
  • $2.04

    LIST RENT PER SQFT
  • $4,431

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$3,700
1$3,7002$3,7703$4,5004$4,5005$4,750
$4,750
RENT COMPS ANALYSIS
  • 1920 Chilton Drive Glendale, CA 2
    • 3 beds 1 baths ∙ 1,848 Sqft ∙ Built 1926 3 beds 1 baths ∙ 1,848 Sqft ∙ Built 1926
    • Rent
    • Rent Per SQFT
    •  
    • $3,770
    • $2.04
    •  
  • 1435 Lee Drive Glendale, CA 1
    • 3 beds 1 baths ∙ 1,698 Sqft ∙ Built 1939 3 beds 1 baths ∙ 1,698 Sqft ∙ Built 1939
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.18
    •  
  • 824 E Providencia Avenue Burbank, CA 3
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1930
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.67
    •  
  • 1930 Chilton Drive Glendale, CA 4
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1924 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1924
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.37
    •  
  • 1407 5th Street Glendale, CA 5
    • 3 beds 3 baths ∙ 2,008 Sqft ∙ Built 1928 3 beds 3 baths ∙ 2,008 Sqft ∙ Built 1928
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.37
    •  
PROPERTY LISTING DETAILS
Christina Zastrow
Nexthome Luxe Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320004766
Last Updated: 02/06/2021
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