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3800 Lockerbie Lane Glendale, CA 91208

3 Beds 2 Baths 1,580 sqft Built 1956

$1,049,000

List Price

$3,630

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $663.92
  • 3 Days on Market
  • MLS # : 20667098
  • Updated Date : 12/05/2020 at 11:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,580 sqft
  • Baths : 2 full
Listing Agent

Nourmand & Associates-hw

Listing Agent's Description

Mid-century modern gem located in sought-after Whiting Woods. 2nd time on the market in 46 yrs. This light-filled home is located on a quiet cul-de-sac & is located in a Blue Ribbon school district. 3 br + 2 ba full of retro details. The sunken living room boasts a pass-thru planter/bench, stone fireplace, and 2 huge windows with lush views. The kitchen & dining room features unique, vintage light fixtures. Master br has a brick fireplace, cork floors, built-in desk, exposed-beam ceilings, & a walk-out patio. The 2nd br features a wall of built-ins & a bathroom with a 1950s Cinderella tub. The 3rd br has a sliding glass door for backyard access, a walk-in closet, and an ensuite bathroom. The laundry room/pantry doubles as a virtual workspace with a built-in desk. Detached garage was converted into a fab casino room by a national home-improvement show. The private backyard is an entertainer's dream surrounded by an MCM basket-weave fence under a canopy of oaks. Room for a pool & more

SEE MORE

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: Whiting Woods

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1193k

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

Neighborhood: Whiting Woods

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200440046004800Rent in $17844869

* 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
Abraham Lincoln Elementary School Primary Regular 474 18 9
Abraham Lincoln Elementary School Middle Regular 474 18 9
Crescenta Valley Senior High School High Regular 2,693 97 9

Abraham Lincoln Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 18
9
GreatSchools Rating

Abraham Lincoln Elementary School

  • Education Level: Middle
  • # of students: 474
  • # of teachers: 18
9
GreatSchools Rating

Crescenta Valley Senior High School

  • Education Level: High
  • # of students: 2,693
  • # of teachers: 97
9
GreatSchools Rating
 

$944,100$1,153,900$1,049,000

PURCHASE PRICE

$3,267$3,993$3,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,630
EXPENSES Loan Payment -$3,870
Property Tax -$1,009
Property Insurance -$65
HOA -$20
Property Management Fees -$178
CASH FLOW
-$1,512

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.

$1,049,000

PROJECTED PRICE

$3,630

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$632

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,630

    LIST RENT
  • $2.3

    LIST RENT PER SQFT
  • $3,622

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2003$3,5004$3,6305$4,300
$4,300
RENT COMPS ANALYSIS
  • 3800 Lockerbie Lane Glendale, CA 4
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $3,630
    • $2.30
    •  
  • 3923 La Crescenta Avenue La Crescenta, CA 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1942
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.07
    •  
  • 2665 Mayfield Avenue La Crescenta, CA 2
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1942
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.19
    •  
  • 2845 Fairway Avenue La Crescenta, CA 3
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1958
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.49
    •  
  • 3810 Lockerbie Lane Glendale, CA 5
    • 3 beds 1 baths ∙ 1,777 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,777 Sqft ∙ Built 1957
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.42
    •  
PROPERTY LISTING DETAILS
Christopher Furstenberg
Nourmand & Associates-hw
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20667098
Last Updated: 12/05/2020
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