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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $431.97
- 24 Days on Market
- MLS # : 320004383
- Updated Date : 01/08/2021 at 08:46
CONSTRUCTION
- Beds : 3
- Floor Size : 1,595 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Hallmark Realt
Listing Agent's Description
Welcome home to this absolutely refreshing townhouse style condo offering you an immaculate living space with many desirable features throughout. Filled with bright natural light, this delightful unit presents 3 spacious bedrooms and 2.5 baths of modern style, tastefully designed with sleek marble and wood flooring, recessed lights adding to the glow from the high ceilings. With almost 1600 SQFT, the home enjoys a chic interior setting with a comfortable living room, dining area and an inviting entertainer's kitchen complete with beautiful white cabinetry, countertops, and complimentary backsplash. You will enjoy the large balcony, ideal for guests or relaxation. For your convenience, you will also appreciate the laundry inside the unit along with the 2-car attached garage with direct access into the unit and ample storage space. This home presents a wonderful living arrangement in a gated complex, centrally located in the City of Glendale. Welcome the New Year in your new home and enjoy for years to come!
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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: Vineyard
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Vineyard
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,250 |
| EXPENSES | Loan Payment | -$2,393 |
| Property Tax | -$630 | |
| Property Insurance | -$66 | |
| HOA | -$318 | |
| Property Management Fees | -$159 | |
|
CASH FLOW
-$316
|
||
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.
$689,000
PROJECTED PRICE
$3,250
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 4.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$188,335
LOAN DETAILS
$2,393
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $172,250 |
| Loan Amount | $516,750 |
3.67
YEARS SAVED
$23,491
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,250
LIST RENT -
$2.04
LIST RENT PER SQFT
-
$3,565
COMP ESTIMATED VALUE -
$2.24
COMP AVG. RENT PER SQFT
Comps Range
-
335 Concord Street Glendale, CA 3
- 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1991
![property image]()
- Rent
- Rent Per SQFT
- $3,250
- $2.04
-
400 N Louise Street Glendale, CA 1
- 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 1978
![property image]()
LEASED 01/16/20- Rent
- Rent Per SQFT
- $2,795
- $2.15
-
345 N Kenwood Street Glendale, CA 2
- 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1990
![property image]()
LEASED 08/13/20- Rent
- Rent Per SQFT
- $3,195
- $2.22
-
347 Milford Street Glendale, CA 4
- 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2010
![property image]()
LEASED 02/06/20- Rent
- Rent Per SQFT
- $3,795
- $2.37
-
345 Pioneer Drive Glendale, CA 5
- 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1988
![property image]()
LEASED 07/08/20- Rent
- Rent Per SQFT
- $3,850
- $2.20
PROPERTY LISTING DETAILS
Coldwell Banker Hallmark Realt
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 320004383
Last Updated: 01/08/2021
