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2312 Gardner Place Glendale, CA 91206

4 Beds 2 Baths 2,564 sqft Built 1977

$1,275,000

List Price

$5,010

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $497.27
  • 4 Days on Market
  • MLS # : 320005388
  • Updated Date : 03/19/2021 at 10:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,564 sqft
  • Baths : 1 full , 1 half
Listing Agent

Harcourts Prime Properties

Listing Agent's Description

See spectacular unobstructed views from all rooms in this 4 bed/3 bath home. Two decks (one spanning width of home) great for entertaining. Close to Scholl Canyon Golf and Tennis facility, Newer HVAC and water heater. Beautiful Maple hardwood floors on entry level. Entry level has Master bedroom with bath, main living room, dining room and kitchen and guest bath. 3 bedrooms downstairs with full bath and family room. Lots of storage. Must see!

SEE MORE

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: 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
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6
Woodrow Wilson Middle School Middle Unknown NA

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

Woodrow Wilson Middle School

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

$1,147,500$1,402,500$1,275,000

PURCHASE PRICE

$4,509$5,511$5,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,010
EXPENSES Loan Payment -$4,429
Property Tax -$1,226
Property Insurance -$89
Property Management Fees -$245
CASH FLOW
-$979

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.

$1,275,000

PROJECTED PRICE

$5,010

PROJECTED RENT

0.39%

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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$343,625

INVESTMENT

$343,625

Down Payment
$318,750
Rehab Estimate
$5,750
Closing Costs
$19,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,429

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $318,750
Loan Amount $956,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$21,935

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,010

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $4,731

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$4,500
1$4,5002$4,6003$4,7004$4,7005$5,010
$5,010
RENT COMPS ANALYSIS
  • 2312 Gardner Place Glendale, CA 5
    • 4 beds 2 baths ∙ 2,564 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,564 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,010
    • $1.95
    •  
  • 990 Calle Bella Glendale, CA 1
    • 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 1989
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.88
    •  
  • 986 Calle Del Pacifico Glendale, CA 2
    • 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1989
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $1.82
    •  
  • 980 Calle Del Pacifico Glendale, CA 3
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1989
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.80
    •  
  • 956 Calle Amable Glendale, CA 4
    • 3 beds 3 baths ∙ 2,504 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,504 Sqft ∙ Built 1989
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.88
    •  
PROPERTY LISTING DETAILS
Barbara Kalergis
Harcourts Prime Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320005388
Last Updated: 03/19/2021
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