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260 W Montana Street Pasadena, CA 91103

3 Beds 1 Baths 1,211 sqft Built 1948

$879,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $725.85
  • 6 Days on Market
  • MLS # : AR21022024
  • Updated Date : 02/13/2021 at 08:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,211 sqft
  • Baths : 1 full
Listing Agent

Sothebys International Realty

Listing Agent's Description

This charming 3 bedroom bungalow is tucked away on a tree-lined street in Pasadena. The house flows from the open living and dining area through to the new kitchen with custom cabinetry and professional style gas range. Enjoy the spacious backyard, overlooking the Japanese garden at the Buddhist Temple, with views of the San Gabriel mountains and enough space to add an ADU or a pool. The recent upgrades include dual pane windows, new plumbing and updated electrical, and a new roof and HVAC system. Everything has been done so you can just move right in and simply enjoy being home.

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: Natha

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $173k855k

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

Neighborhood: Natha

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800300032003400Rent in $13973569

* 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
Jackson Stem Dual Language Magnet School Primary Regular 419 18 3
Washington Middle School Middle Regular 513 28 1
John Muir High School High Regular 919 55 3

Jackson Stem Dual Language Magnet School

  • Education Level: Primary
  • # of students: 419
  • # of teachers: 18
3
GreatSchools Rating

Washington Middle School

  • Education Level: Middle
  • # of students: 513
  • # of teachers: 28
1
GreatSchools Rating

John Muir High School

  • Education Level: High
  • # of students: 919
  • # of teachers: 55
3
GreatSchools Rating
 

$791,100$966,900$879,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$3,053
Property Tax -$854
Property Insurance -$56
Property Management Fees -$140
CASH FLOW
-$1,253

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.

$879,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 11.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$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$238,685

INVESTMENT

$238,685

Down Payment
$219,750
Rehab Estimate
$5,750
Closing Costs
$13,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,053

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $219,750
Loan Amount $659,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$216

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $2.35

    LIST RENT PER SQFT
  • $2,994

    COMP ESTIMATED VALUE
  • $2.47

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8503$2,9954$3,0005$3,500
$3,500
RENT COMPS ANALYSIS
  • 260 W Montana Street Pasadena, CA 2
    • 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.35
    •  
  • 2077 Alta Pasa Drive Pasadena, CA 1
    • 3 beds 2 baths ∙ 1,105 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,105 Sqft ∙ Built 1955
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.53
    •  
  • 595 Ventura Street Altadena, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1948
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.50
    •  
  • 3285 Florecita Drive Altadena, CA 4
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1948
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.31
    •  
  • 54 W Loma Alta Drive Altadena, CA 5
    • 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1947
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.55
    •  
PROPERTY LISTING DETAILS
Tara Del Bosco
Sothebys International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21022024
Last Updated: 02/13/2021
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