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2276 Monte Vista Street Pasadena, CA 91107

3 Beds 2 Baths 1,365 sqft Built 1948

$998,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $731.14
  • 4 Days on Market
  • MLS # : AR21017151
  • Updated Date : 01/28/2021 at 09:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,365 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to this charming traditional, ranch style home, with recent upgrades, in one of Northeast Pasadena's most desirable neighborhoods. The light and bright functional floor plan features a spacious living room, with scenic bay window and brick fireplace; a lovely dining room with chair rail moulding and a newly renovated kitchen, equipped with Quartz countertops, stainless steel appliances and stackable washer/dryer. Additionally, there are 3 bedrooms with hardwood floors and 2 bathrooms, including a beautifully remodeled master bathroom with dual sinks. An office/den, (not included in the square footage), is conveniently located off the master bedroom and flows to the great outdoors. The landscaped sprawling backyard with brick patio and gas BBQ provides ample space for playing and entertaining. A two car detached garage with a rear storage/workshop offers even more space. New HVAC, new landscaping, new interior and exterior paint. All of this in a great neighborhood, within minutes of parks, shopping, fine dining and the metro.

SEE MORE

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: East Orange Grove

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $199k984k

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

Neighborhood: East Orange Grove

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
Jefferson Elementary School Primary Regular 401 15 3
Charles W. Eliot Arts Magnet Academy Middle Regular 504 27 2
Pasadena High School High Regular 1,903 84 6

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 15
3
GreatSchools Rating

Charles W. Eliot Arts Magnet Academy

  • Education Level: Middle
  • # of students: 504
  • # of teachers: 27
2
GreatSchools Rating

Pasadena High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 84
6
GreatSchools Rating
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$3,466
Property Tax -$970
Property Insurance -$60
Property Management Fees -$153
CASH FLOW
-$1,520

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.

$998,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
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

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$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,466

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,130

    LIST RENT
  • $2.29

    LIST RENT PER SQFT
  • $3,126

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,1303$3,2504$3,3505$3,795
$3,795
RENT COMPS ANALYSIS
  • 2276 Monte Vista Street Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $2.29
    •  
  • 2459 Loma Vista Street Pasadena, CA 1
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1965
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.05
    •  
  • 130 S Allen Avenue Pasadena, CA 3
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1937
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.44
    •  
  • 2882 E Sierra Madre Boulevard Pasadena, CA 4
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1946
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.23
    •  
  • 2430 Monte Vista Street Pasadena, CA 5
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1946
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.44
    •  
PROPERTY LISTING DETAILS
Amy Ellis
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21017151
Last Updated: 01/28/2021
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