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224 S Glenwood Place Burbank, CA 91506

3 Beds 2 Baths 1,212 sqft Built 1939

$879,900

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $725.99
  • 3 Days on Market
  • MLS # : SR21058038
  • Updated Date : 03/20/2021 at 11:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,212 sqft
  • Baths : 2 full
Listing Agent

California Estate Properties

Listing Agent's Description

Beautiful upgraded Burbank Home in Quiet Neighborhood Close to All. Home has been updated / 3 Bd-Rm 2 Bath Home - Kitchen and Dining Rooms updated. Master Bedroom was Added with Permits. Wood Floors and Tile throughout the Home. Kitchen updated with Coffee Cabinets - Stainless Steel appliances - Granite Counter Tops & Breakfast Counter - Wood & Tile Floors. Covered Backyard Porch for Entertaining or eating Table. Home has Copper Plumbing and Electrical Wiring - Newly 200 amp Electrical Box Installed two years ago. Nicely Front and Back Yards maintained - Back Yard has Beautiful From Fruit Trees (Orange, Pomegranate, Orange, Lemon) and lovely Gardens with Sitting and BBQ Area. A Must see...

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MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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: Rancho Adjacent

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k871k

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

Neighborhood: Rancho Adjacent

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Walt Disney Elementary School Primary Regular 393 15 7
David Starr Jordan Middle School Middle Regular 1,080 41 6
John Burroughs High School High Regular 2,649 108 8

Walt Disney Elementary School

  • Education Level: Primary
  • # of students: 393
  • # of teachers: 15
7
GreatSchools Rating

David Starr Jordan Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 41
6
GreatSchools Rating

John Burroughs High School

  • Education Level: High
  • # of students: 2,649
  • # of teachers: 108
8
GreatSchools Rating
 

$791,910$967,890$879,900

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$3,056
Property Tax -$820
Property Insurance -$56
Property Management Fees -$161
CASH FLOW
-$814

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.

$879,900

PROJECTED PRICE

$3,280

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$238,924

INVESTMENT

$238,924

Down Payment
$219,975
Rehab Estimate
$5,750
Closing Costs
$13,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,056

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $219,975
Loan Amount $659,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$8,736

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $2.71

    LIST RENT PER SQFT
  • $3,709

    COMP ESTIMATED VALUE
  • $3.06

    COMP AVG. RENT PER SQFT
Comps Range
$3,280
1$3,2802$3,3003$3,3004$3,8005$4,250
$4,250
RENT COMPS ANALYSIS
  • 224 S Glenwood Place Burbank, CA 1
    • 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1939
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $2.71
    •  
  • 325 N Lincoln Street Burbank, CA 2
    • 3 beds 2 baths ∙ 1,030 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,030 Sqft ∙ Built 1937
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $3.20
    •  
  • 1206 W Chandler Boulevard Burbank, CA 3
    • 3 beds 3 baths ∙ 1,061 Sqft ∙ Built 1948 3 beds 3 baths ∙ 1,061 Sqft ∙ Built 1948
    property image
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $3.11
    •  
  • 351 W Elm Avenue Burbank, CA 4
    • 3 beds 1 baths ∙ 1,231 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,231 Sqft ∙ Built 1940
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.09
    •  
  • 719 N Sparks Street Burbank, CA 5
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1942
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.84
    •  
PROPERTY LISTING DETAILS
H.a."hurst" Velasco
California Estate Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21058038
Last Updated: 03/20/2021
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