Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

316 N Sparks Street Burbank, CA 91506

3 Beds 3 Baths 1,789 sqft Built 1939

$1,199,000

List Price

$3,900

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $670.21
  • 4 Days on Market
  • MLS # : BB21045208
  • Updated Date : 03/04/2021 at 15:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,789 sqft
  • Baths : 3 full
Listing Agent

Media West Realty,inc.

Listing Agent's Description

Enter from the inviting front porch into the welcoming living room with hardwood flooring and an abundance of natural sunlight. Step down into the family room with a stone fireplace, tiled flooring and double wooden framed doors leading to the private backyard where you will enjoy time gathering with family and friends in and around the sparkling pool. The kitchen has plenty of gorgeous wood cabinetry, a tiled backsplash and countertops, tiled flooring, and stainless-steel appliances. It is light and bright with natural sunlight beaming through the garden window over the sink as you prepare breakfast and lunch and recessed lighting for nighttime cooking. Enjoy meals in the dining room highlighted by plantation shutters and a modern chandelier. Each bedroom offers hardwood flooring and a ceiling fan, plus plenty of natural sunlight. The sizable bathroom in between has a tub and a separate shower along with a modern vanity. There is also a ¾ bathroom off the family room and kitchen with a door to the back patio. The guest unit attached to the back of the garage includes a large bedroom with slider doors overlooking the pool, tiled flooring that leads to the full bathroom with a large walk-in shower and closet. Living in the media capital of the world, Burbank residents take pride in top-rated schools, parks & recreation offerings, hiking trails, charming Chandler Bike Path, trendy shops, & restaurants. Do not miss this opportunity to buy this great home in this wonderful city!

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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chandler Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Chandler Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16803697

* 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
Walt Disney Elementary School Primary Regular 393 15 7
David Starr Jordan Middle School Middle Regular 1,080 41 6
John Burroughs High School High Regular 2,649 108 8

Walt Disney Elementary School

  • Education Level: Primary
  • # of students: 393
  • # of teachers: 15
7
GreatSchools Rating

David Starr Jordan Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 41
6
GreatSchools Rating

John Burroughs High School

  • Education Level: High
  • # of students: 2,649
  • # of teachers: 108
8
GreatSchools Rating
 

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,510$4,290$3,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,900
EXPENSES Loan Payment -$4,165
Property Tax -$1,118
Property Insurance -$70
Property Management Fees -$191
CASH FLOW
-$1,644

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.

$1,199,000

PROJECTED PRICE

$3,900

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.6%
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-$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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,165

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$543

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,900

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $4,361

    COMP ESTIMATED VALUE
  • $2.44

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$4,0003$4,2004$4,6005$4,750
$4,750
RENT COMPS ANALYSIS
  • 316 N Sparks Street Burbank, CA 1
    • 3 beds 3 baths ∙ 1,789 Sqft ∙ Built 1939 3 beds 3 baths ∙ 1,789 Sqft ∙ Built 1939
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.18
    •  
  • 1122 N Florence Street Burbank, CA 2
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1940
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.38
    •  
  • 805 N Brighton Street Burbank, CA 3
    • 3 beds 3 baths ∙ 1,969 Sqft ∙ Built 1940 3 beds 3 baths ∙ 1,969 Sqft ∙ Built 1940
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.13
    •  
  • 809 N Doan Drive Burbank, CA 4
    • 3 beds 3 baths ∙ 1,694 Sqft ∙ Built 1939 3 beds 3 baths ∙ 1,694 Sqft ∙ Built 1939
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.72
    •  
  • 629 N Brighton Street Burbank, CA 5
    • 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1941
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.52
    •  
PROPERTY LISTING DETAILS
Bryan Ochse
Media West Realty,inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB21045208
Last Updated: 03/04/2021
BESbswy