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324 E Villa Street Pasadena, CA 91101

4 Beds 2 Baths 1,373 sqft Built 1912

$625,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1912
  • Price/Sqft : $455.21
  • 2 Days on Market
  • MLS # : AR20260373
  • Updated Date : 12/19/2020 at 12:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,373 sqft
  • Baths : 2 full
Listing Agent

Moon Realty

Listing Agent's Description

Welcome to the best deal in beautiful Pasadena! With some love and care this home can easily transform into a gem. With an interior living space of 1,373 the possibilities are endless. This home has a brand new roof and exterior paint job. This is truly a great investment opportunity to get into a home that is priced to sell and will generate great appreciation once renovated. Location is everything and with a beautiful park nearby and great walking score, this home is set to fly off the market! Come take a look and see your vision unfold!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Villa Parke

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $153k855k

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

Neighborhood: Villa Parke

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800300032003400Rent in $14683569

* 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
Madison Elementary School Primary Regular 459 18 2
Washington Middle School Middle Regular 513 28 1
John Muir High School High Regular 919 55 3

Madison Elementary School

  • Education Level: Primary
  • # of students: 459
  • # of teachers: 18
2
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
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,306
Property Tax -$624
Property Insurance -$60
Property Management Fees -$155
CASH FLOW
$15

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$625,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$62,865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $2.3

    LIST RENT PER SQFT
  • $3,518

    COMP ESTIMATED VALUE
  • $2.56

    COMP AVG. RENT PER SQFT
Comps Range
$3,160
1$3,1602$3,6503$3,8004$3,8005$4,100
$4,100
RENT COMPS ANALYSIS
  • 324 E Villa Street Pasadena, CA 1
    • 4 beds 2 baths ∙ 1,373 Sqft ∙ Built 1912 4 beds 2 baths ∙ 1,373 Sqft ∙ Built 1912
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $2.30
    •  
  • 742 N Mentor Avenue Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1920
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.37
    •  
  • 1155 N Michigan Avenue Pasadena, CA 3
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1913 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1913
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.42
    •  
  • 1110 N Wilson Avenue Pasadena, CA 4
    • 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1921 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1921
    property image
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.69
    •  
  • 706 S Mentor Avenue Pasadena, CA 5
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1922
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.77
    •  
PROPERTY LISTING DETAILS
Robby Moon
Moon Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR20260373
Last Updated: 12/19/2020
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