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PROPERTY INFO
FACTS
- Single Family
- Built In 1947
- Price/Sqft : $579.99
- 2 Days on Market
- MLS # : WS20229946
- Updated Date : 11/28/2020 at 16:58
CONSTRUCTION
- Beds : 3
- Floor Size : 2,069 sqft
- Baths : 3 full
Listing Agent
Golden Land Inv. & Financial
Listing Agent's Description
Located in the highly desirable Chapman Woods neighborhood of Pasadena on a beautifully tree-lined street, this wonderful 3 bedroom 2 and 1/2 bath home has been freshly renovated and features a detached converted guesthouse with a large private backyard and BBQ patio area. Travertine floors in the living room and formal dining area. Updated kitchen with granite countertops opens to the family room which has french doors leading to a tiled patio and charming backyard. Plenty of fruit trees including avocado, fig, orange, pomegranate, lemon and apple. Huge master suite with beautiful wood floors, walk-in closet, master bath with spa-like shower and french doors that lead to the backyard. The garage has been converted to a guest quarters with built-in closets, cabinetry and 3/4 bath. Legally, the garage can be permitted as an ADU guesthouse. Conveniently located within a few minutes of Sprouts Supermarket, Whole Foods, Trader Joe's, Ralphs, Starbucks, Bed Bath & Beyond, Best Buy, the 210 freeway, Metrolink Gold Line Stations, President Thai, and dozens of restaurants and shops!
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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: Chapman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Chapman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,040 |
| EXPENSES | Loan Payment | -$4,427 |
| Property Tax | -$1,141 | |
| Property Insurance | -$77 | |
| Property Management Fees | -$198 | |
|
CASH FLOW
-$1,803
|
||
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.
$1,200,000
PROJECTED PRICE
$4,040
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 4.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| 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
$323,750
LOAN DETAILS
$4,427
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $300,000 |
| Loan Amount | $900,000 |
0.25
YEARS SAVED
$444
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,040
LIST RENT -
$1.95
LIST RENT PER SQFT
-
$4,154
COMP ESTIMATED VALUE -
$2.01
COMP AVG. RENT PER SQFT
Comps Range
-
3664 Grayburn Road Pasadena, CA 4
- 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 1947 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 1947
![property image]()
- Rent
- Rent Per SQFT
- $4,040
- $1.95
-
211 S Altura Road Arcadia, CA 1
- 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 1951
![property image]()
LEASED 07/08/19- Rent
- Rent Per SQFT
- $3,700
- $1.92
-
3554 Yorkshire Rd Pasadena, CA 2
- 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 1937
![property image]()
LEASED 12/23/19- Rent
- Rent Per SQFT
- $3,800
- $1.96
-
3672 Grayburn Road Pasadena, CA 3
- 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1949
![property image]()
LEASED 02/12/20- Rent
- Rent Per SQFT
- $4,000
- $2.11
-
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
Golden Land Inv. & Financial
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS20229946
Last Updated: 11/28/2020
