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PROPERTY INFO
FACTS
- Single Family
- Built In 1945
- Price/Sqft : $576.64
- 2 Days on Market
- MLS # : P1-3433
- Updated Date : 02/20/2021 at 15:43
CONSTRUCTION
- Beds : 3
- Floor Size : 1,344 sqft
- Baths : 1 full
Listing Agent
R & L Properties Inc
Listing Agent's Description
Beautiful hidden Pasadena home on a flag style lot. Ample space for kids to play in the yard. Live in it as is or customize. plenty of room for growth. possibility to add a second story or even an ADU which will significantly increase your value. Buyer to verify with city.
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MARKET HIGHLIGHTS
- 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)
- 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)
- 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: East Pasadena
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Pasadena
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,900 |
| EXPENSES | Loan Payment | -$2,692 |
| Property Tax | -$774 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$142 | |
|
CASH FLOW
-$768
|
||
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.
$775,000
PROJECTED PRICE
$2,900
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$211,125
LOAN DETAILS
$2,692
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $193,750 |
| Loan Amount | $581,250 |
1.42
YEARS SAVED
$5,572
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,900
LIST RENT -
$2.16
LIST RENT PER SQFT
-
$2,910
COMP ESTIMATED VALUE -
$2.17
COMP AVG. RENT PER SQFT
Comps Range
-
3842 Mountain View Avenue Pasadena, CA 1
- 3 beds 1 baths ∙ 1,344 Sqft ∙ Built 1945 3 beds 1 baths ∙ 1,344 Sqft ∙ Built 1945
- Rent
- Rent Per SQFT
- $2,900
- $2.16
-
431 Drake Road Arcadia, CA 2
- 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1948
LEASED 03/01/20- Rent
- Rent Per SQFT
- $3,000
- $2.21
-
865 Palo Alto Drive Arcadia, CA 3
- 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1946
LEASED 11/12/20- Rent
- Rent Per SQFT
- $3,000
- $2.01
-
1026 Portola Drive Arcadia, CA 4
- 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1961
LEASED 09/24/20- Rent
- Rent Per SQFT
- $3,100
- $2.07
-
946 Victoria Drive Arcadia, CA 5
- 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1948
LEASED 08/20/20- Rent
- Rent Per SQFT
- $3,600
- $2.37
PROPERTY LISTING DETAILS
R & L Properties Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: P1-3433
Last Updated: 02/20/2021
