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3131 Sparr Boulevard Glendale, CA 91208

3 Beds 2 Baths 2,131 sqft Built 1938

$1,299,000

List Price

$4,190

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1938
  • Price/Sqft : $609.57
  • 5 Days on Market
  • MLS # : P1-3069
  • Updated Date : 01/27/2021 at 17:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,131 sqft
  • Baths : 1 full , 1 half
Listing Agent

Compass

Listing Agent's Description

This beautiful Colonial home was built in 1938 in the historic Montecito Park neighborhood and has been lovingly cared for by the same family for almost 60 years! The home exudes charm and character with hardwood floors, crown moldings, true divided light sash and bay windows along with French doors and plantation shutters. The large living room has space for both a sitting area and game table and features a cozy fireplace and bay window. The dining room can host large dinners with family and friends and offers wainscoting, beautiful brass chandelier and another bay window. The eat-in kitchen has granite countertops, leaded glass window, separate 36' Subzero refrigerator and freezer, double-oven along with adjacent pantry, separate laundry area and 1/2 bath. Upstairs you will find a large master bedroom with beautifully tiled and remodeled bathroom with separate shower and tub; two additional large bedrooms, Jack & Jill remodeled 3/4 bathroom and a large wood-paneled office featuring lots of natural light and overlooking the rear yard, majestic trees and side patio. Outside you will find two large patios that can be used for outdoor dining al fresco, entertaining or relaxing; 2-car detached garage with potting shed and a stairway to the 'secret' play area. Add award winning schools, unique privacy all around, near Montrose Community Park, Oakmont Country Club, shopping, restaurants and nightlife makes this a truly special home in a special location!

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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: Montecito Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $199k993k

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

Neighborhood: Montecito Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844187

* 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
Rosemont Middle School Middle Regular 1,269 47 9
Crescenta Valley Senior High School High Regular 2,693 97 9
Rosemont Middle School Middle Unknown NA

Rosemont Middle School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 47
9
GreatSchools Rating

Crescenta Valley Senior High School

  • Education Level: High
  • # of students: 2,693
  • # of teachers: 97
9
GreatSchools Rating

Rosemont Middle School

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

$1,169,100$1,428,900$1,299,000

PURCHASE PRICE

$3,771$4,609$4,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,190
EXPENSES Loan Payment -$4,512
Property Tax -$1,249
Property Insurance -$79
Property Management Fees -$205
CASH FLOW
-$1,855

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.

$1,299,000

PROJECTED PRICE

$4,190

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$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$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,985

INVESTMENT

$349,985

Down Payment
$324,750
Rehab Estimate
$5,750
Closing Costs
$19,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,512

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $324,750
Loan Amount $974,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,190

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $4,262

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$4,1003$4,1904$4,3005$4,850
$4,850
RENT COMPS ANALYSIS
  • 3131 Sparr Boulevard Glendale, CA 3
    • 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 1938 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $4,190
    • $1.97
    •  
  • 3604 Angelus Avenue Glendale, CA 1
    • 3 beds 1 baths ∙ 2,100 Sqft ∙ Built 1931 3 beds 1 baths ∙ 2,100 Sqft ∙ Built 1931
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.71
    •  
  • 4532 Rockland Place La Canada Flintridge, CA 2
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 1950 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 1950
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.92
    •  
  • 3445 Las Palmas Avenue Glendale, CA 4
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1925
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.30
    •  
  • 1359 Salisbury Road La Canada Flintridge, CA 5
    • 3 beds 3 baths ∙ 2,345 Sqft ∙ Built 1948 3 beds 3 baths ∙ 2,345 Sqft ∙ Built 1948
    LEASED 09/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,850
    • $2.07
    •  
PROPERTY LISTING DETAILS
Kevin Grahn
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-3069
Last Updated: 01/27/2021
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