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2021 Oak Valley Road Glendale, CA 91208

3 Beds 1 Baths 1,473 sqft Built 1955

$1,099,000

List Price

$3,710

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $746.10
  • 3 Days on Market
  • MLS # : 320005141
  • Updated Date : 03/06/2021 at 14:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,473 sqft
  • Baths : 1 full
Listing Agent

Green World Realty

Listing Agent's Description

IN 1955 Mr and Mrs Durell constructed a Traditional 3 bedroom, 2 bathroom home nestled within the heart of Montecito Park in Glendale. The 1473 sqft home has been updated throughout the years to include an inviting open floorplan with a large living room and focal wood burning fireplace. The kitchen has granite counters and tile flooring and a large walk in pantry area. All three bedrooms are located off of the main hallway. The dining room has large sliding glass doors with views of the backyard. Step out to the backyard and be greeted with your own oasis. A newly plumbed pool, covered patio, lush gardens, a large flat grass area for play, and Citron, Japanese Persimmon and nectarine trees. The two car attached garage has been refinished and includes a EV charging station. The home has been updated for comfort with new insulation throughout and a Central HVAC. Amazing GUSD schools: Freemont Elementary, Rosemont Middle School and CVHS. Close to the Montrose Shopping Park, Montrose Community Park, USC Verdugo Hills Hospital and easy access to the 2 and 210 Freeways.

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MARKET HIGHLIGHTS

  • 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)
  • 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]
  • 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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 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: Montecito Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $199k993k

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

Neighborhood: Montecito Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844187

* 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
Rosemont Middle School Middle Regular 1,269 47 9
Crescenta Valley Senior High School High Regular 2,693 97 9
Rosemont Middle School Middle Unknown NA

Rosemont Middle School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 47
9
GreatSchools Rating

Crescenta Valley Senior High School

  • Education Level: High
  • # of students: 2,693
  • # of teachers: 97
9
GreatSchools Rating

Rosemont Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$989,100$1,208,900$1,099,000

PURCHASE PRICE

$3,339$4,081$3,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,710
EXPENSES Loan Payment -$3,817
Property Tax -$1,057
Property Insurance -$63
Property Management Fees -$182
CASH FLOW
-$1,408

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.

$1,099,000

PROJECTED PRICE

$3,710

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.1%
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$296,985

INVESTMENT

$296,985

Down Payment
$274,750
Rehab Estimate
$5,750
Closing Costs
$16,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,817

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $274,750
Loan Amount $824,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,710

    LIST RENT
  • $2.52

    LIST RENT PER SQFT
  • $3,178

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0003$3,1004$3,2505$3,710
$3,710
RENT COMPS ANALYSIS
  • 2021 Oak Valley Road Glendale, CA 5
    • 3 beds 1 baths ∙ 1,473 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,473 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,710
    • $2.52
    •  
  • 1852 Alpha Road Glendale, CA 1
    • 3 beds 1 baths ∙ 1,355 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,355 Sqft ∙ Built 1940
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.18
    •  
  • 1935 Alpha Road Glendale, CA 2
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1969
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.09
    •  
  • 2277 Waltonia Drive Montrose, CA 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1939
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.07
    •  
  • 3426 Rosemary Avenue Glendale, CA 4
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1941
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.29
    •  
PROPERTY LISTING DETAILS
Haik Alexanians
Green World Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320005141
Last Updated: 03/06/2021
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