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2030 E Glenoaks Boulevard Glendale, CA 91206

3 Beds 1 Baths 1,787 sqft Built 1940

$889,000

List Price

$3,950

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $497.48
  • 3 Days on Market
  • MLS # : BB20239019
  • Updated Date : 11/14/2020 at 05:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,787 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Glenoaks Canyon homestead! A family home inviting a new owner to preserve the past memories while creating new traditions and celebrations. Floor to ceiling glass doors open onto the backyard, inviting the outside in. The open floor plan flows effortlessly throughout the home, connecting the living spaces. The vintage hall bathroom connects two of the bedrooms with the third bedroom hosting a private bath. A golf enthusiasts; Scholl Canyon Golf Course is just up the street. With limitless possibilities, your new home awaits.

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: Glenoaks Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $199k944k

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

Neighborhood: Glenoaks Canyon

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844464

* 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
Glenoaks Elementary School Primary Regular 556 22 6
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6

Glenoaks Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 22
6
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
 

$800,100$977,900$889,000

PURCHASE PRICE

$3,555$4,345$3,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,950
EXPENSES Loan Payment -$3,280
Property Tax -$855
Property Insurance -$70
Property Management Fees -$194
CASH FLOW
-$449

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.

$889,000

PROJECTED PRICE

$3,950

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.7%
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$30k

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$241,335

INVESTMENT

$241,335

Down Payment
$222,250
Rehab Estimate
$5,750
Closing Costs
$13,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,280

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $222,250
Loan Amount $666,750
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$39,258

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,950

    LIST RENT
  • $2.21

    LIST RENT PER SQFT
  • $4,150

    COMP ESTIMATED VALUE
  • $2.32

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,9503$4,0004$4,2005$4,450
$4,450
RENT COMPS ANALYSIS
  • 2030 E Glenoaks Boulevard Glendale, CA 2
    • 3 beds 1 baths ∙ 1,787 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,787 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.21
    •  
  • 2230 E Glenoaks Boulevard Glendale, CA 1
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1926
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.28
    •  
  • 1490 E Glenoaks Boulevard Glendale, CA 3
    • 3 beds 0 baths ∙ 1,840 Sqft ∙ Built 1957 3 beds 0 baths ∙ 1,840 Sqft ∙ Built 1957
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.17
    •  
  • 2656 E Glenoaks Boulevard Glendale, CA 4
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1935
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.38
    •  
  • 2641 Hollister Terrace Glendale, CA 5
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1935
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $2.46
    •  
PROPERTY LISTING DETAILS
Robin Mccary
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB20239019
Last Updated: 11/14/2020
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