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2718 Scott Road Burbank, CA 91504

3 Beds 2 Baths 1,062 sqft Built 1952

$835,000

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $786.25
  • 6 Days on Market
  • MLS # : BB21036432
  • Updated Date : 02/25/2021 at 10:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,062 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Wmc

Listing Agent's Description

Welcome Home. This charming classic Burbank home is located in one of Burbank’s most desired hillside neighborhoods. Large windows throughout the home let the light shine in. Copper plumbing and central heat and air. This is a great opportunity to put your finishing touches or expand on this well kept home to make it your own. Enjoy the lush yard with 4 lemon trees and a large gated organic garden. Conveniently blocks from Burbank parks, schools, shopping and restaurants. This opportunity won’t last long.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hillside District

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k917k

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

Neighborhood: Hillside District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844015

* 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
Thomas Jefferson Elementary School Primary Regular 749 25 8
John Muir Middle School Middle Regular 1,408 55 8
Burbank High School High Regular 2,606 106 8

Thomas Jefferson Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 25
8
GreatSchools Rating

John Muir Middle School

  • Education Level: Middle
  • # of students: 1,408
  • # of teachers: 55
8
GreatSchools Rating

Burbank High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 106
8
GreatSchools Rating
 

$751,500$918,500$835,000

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$2,900
Property Tax -$779
Property Insurance -$53
Property Management Fees -$133
CASH FLOW
-$1,154

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.

$835,000

PROJECTED PRICE

$2,710

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.2%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$227,025

INVESTMENT

$227,025

Down Payment
$208,750
Rehab Estimate
$5,750
Closing Costs
$12,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $208,750
Loan Amount $626,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$332

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $2.55

    LIST RENT PER SQFT
  • $2,708

    COMP ESTIMATED VALUE
  • $2.55

    COMP AVG. RENT PER SQFT
Comps Range
$2,710
1$2,7102$2,7503$3,2004$3,2005$3,600
$3,600
RENT COMPS ANALYSIS
  • 2718 Scott Road Burbank, CA 1
    • 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $2.55
    •  
  • 825 Delaware Road Burbank, CA 2
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1952
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.50
    •  
  • 1521 N Naomi Street Burbank, CA 3
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1941
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.51
    •  
  • 9925 Roscoe Boulevard Sun Valley, CA 4
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1956
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.52
    •  
  • 706 Stephen Road Burbank, CA 5
    • 3 beds 1 baths ∙ 1,349 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,349 Sqft ∙ Built 1951
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.67
    •  
PROPERTY LISTING DETAILS
Timothy Benoit
Keller Williams Wmc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB21036432
Last Updated: 02/25/2021
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