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3660 New Haven Road Pasadena, CA 91107

3 Beds 2 Baths 1,963 sqft Built 1954

$1,199,000

List Price

$3,830

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $610.80
  • 3 Days on Market
  • MLS # : P1-3830
  • Updated Date : 03/19/2021 at 17:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,963 sqft
  • Baths : 2 full
Listing Agent

Sotheby's International Realty, Inc.

Listing Agent's Description

Nestled in the highly desirable Lower Hastings Ranch area of Pasadena, this single level, ranch-style pool home offers 3 bedrooms and 2 baths with lots of opportunity to reimagine into your dream home. The interior offers a spacious living room with fireplace. The second fireplace is in the large dining room with vaulted ceilings and access to the outdoor covered patio. Relax and enjoy the California weather in the flat and gated backyard that includes a covered patio, pool, grass area, storage shed, and mountain views. Convenient attached 2-car garage with long driveway for ample parking. Close to major shopping and dining centers like Hastings Village, Hastings Ranch Plaza, and Hastings Ranch Shopping Center including Whole Foods Market. This is a probate sale that requires court confirmation. Any sidewalk fees, if applicable, to be Buyer responsibility.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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: Lower Hastings Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200kPrice in $199k1217k

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

Neighborhood: Lower Hastings Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844083

* 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
Don Benito Fundamental School Primary Regular 633 25 6
Woodrow Wilson Middle School Middle Regular 570 27 4
Pasadena High School High Regular 1,903 84 6

Don Benito Fundamental School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 25
6
GreatSchools Rating

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students: 570
  • # of teachers: 27
4
GreatSchools Rating

Pasadena High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 84
6
GreatSchools Rating
 

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

PURCHASE PRICE

$3,447$4,213$3,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,830
EXPENSES Loan Payment -$4,165
Property Tax -$1,165
Property Insurance -$74
Property Management Fees -$188
CASH FLOW
-$1,762

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

$3,830

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 10.8%
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-$25k-$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$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

0.17

YEARS SAVED

$198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,830

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $3,960

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6003$3,8304$4,2005$4,500
$4,500
RENT COMPS ANALYSIS
  • 3660 New Haven Road Pasadena, CA 3
    • 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,830
    • $1.95
    •  
  • 970 Medford Road Pasadena, CA 1
    • 3 beds 1 baths ∙ 1,860 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,860 Sqft ∙ Built 1951
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.94
    •  
  • 1060 Hastings Ranch Drive Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1951
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.04
    •  
  • 1270 Daveric Drive Pasadena, CA 4
    • 4 beds 1 baths ∙ 2,044 Sqft ∙ Built 1951 4 beds 1 baths ∙ 2,044 Sqft ∙ Built 1951
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.05
    •  
  • 3482 Grayburn Road Pasadena, CA 5
    • 3 beds 3 baths ∙ 2,205 Sqft ∙ Built 1940 3 beds 3 baths ∙ 2,205 Sqft ∙ Built 1940
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.04
    •  
PROPERTY LISTING DETAILS
Michael Bell
Sotheby's International Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-3830
Last Updated: 03/19/2021
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