Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1945
- Price/Sqft : $590.57
- 2 Days on Market
- MLS # : 20664588
- Updated Date : 11/28/2020 at 14:59
CONSTRUCTION
- Beds : 3
- Floor Size : 1,590 sqft
- Baths : 2 full
Listing Agent
Property Concierge
Listing Agent's Description
Exclusive Rancho Equestrian District. Enter the living room of this meticulously maintained home with a brick accented wood burning fireplace and Bamboo Hardwood Flooring. The dining room is bright with natural light leading to a classic kitchen with stainless steel appliances. 3 bedrooms, 1 used as den with French doors leading to a quant private backyard. 2 bathes, 1 with Japanese cedar soaking tub. Large garage. Laundry room. Lush front yard. Close to trails, Griffith Park, Equestrian Center, boarding and riding facilities. Where else in town can you come home and be pleasantly treated to neighboring horses out for a stroll trotting past your front lawn. Close proximity to studios: Disney, Warner Bros, Universal/NBC, Nickelodeon, Cartoon Network. All information stated here deemed to be reliable however Buyers are advised to do their own due diligence to verify the accuracy of all information including equestrian zoning
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Riverside Rancho
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Riverside Rancho
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,590 |
| EXPENSES | Loan Payment | -$3,464 |
| Property Tax | -$903 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$176 | |
|
CASH FLOW
-$1,019
|
||
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.
$939,000
PROJECTED PRICE
$3,590
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 4.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$254,585
LOAN DETAILS
$3,464
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $234,750 |
| Loan Amount | $704,250 |
1.33
YEARS SAVED
$7,461
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,590
LIST RENT -
$2.26
LIST RENT PER SQFT
-
$3,744
COMP ESTIMATED VALUE -
$2.36
COMP AVG. RENT PER SQFT
Comps Range
-
224 Thompson Avenue Glendale, CA 5
- 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1945
- Rent
- Rent Per SQFT
- $3,590
- $2.26
-
1168 Irving Avenue Glendale, CA 1
- 3 beds 3 baths ∙ 1,250 Sqft ∙ Built 1931 3 beds 3 baths ∙ 1,250 Sqft ∙ Built 1931
LEASED 05/16/20- Rent
- Rent Per SQFT
- $3,000
- $2.40
-
1304 W Morningside Drive Burbank, CA 2
- 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1941
LEASED 07/03/20- Rent
- Rent Per SQFT
- $3,200
- $2.38
-
1617 Riverside Drive Glendale, CA 3
- 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1939
LEASED 07/10/20- Rent
- Rent Per SQFT
- $3,450
- $2.14
-
232 W Linden Avenue Burbank, CA 4
- 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1963
LEASED 10/23/20- Rent
- Rent Per SQFT
- $3,495
- $2.50
PROPERTY LISTING DETAILS
Property Concierge
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 20664588
Last Updated: 11/28/2020
