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3848 Karen Lynn Drive Glendale, CA 91206

4 Beds 2 Baths 2,212 sqft Built 1968

$1,299,000

List Price

$4,740

$4.5K - $5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $587.25
  • 4 Days on Market
  • MLS # : P1-3719
  • Updated Date : 03/13/2021 at 19:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,212 sqft
  • Baths : 2 full
Listing Agent

Re/max Tri-city Realty

Listing Agent's Description

Take advantage of a spectacular opportunity to own a well maintained ranch style home located in a quiet neighborhood above Glendale and La Canada. This single floor, four bedroom, two bathroom property features an updated kitchen, large dining room, comfortable living room space, and expansive family room off the kitchen perfect for entertaining. Features include FA/CA, fireplace in the living room, and a sought after office . Attached three car garage with laundry hook ups included. Peaceful and private back yard and a large spacious lot located in a serene setting make this a wonderful home buying opportunity. Hurry! Lots of potential here.

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MARKET HIGHLIGHTS

  • 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.
  • 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]
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chevy Chase

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1058k

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

Neighborhood: Chevy Chase

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500Rent in $17844939

* 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
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6
Woodrow Wilson Middle School Middle Unknown NA

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students: 1,183
  • # of teachers: 46
8
GreatSchools Rating

Glendale Senior High School

  • Education Level: High
  • # of students: 2,582
  • # of teachers: 101
6
GreatSchools Rating

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$1,169,100$1,428,900$1,299,000

PURCHASE PRICE

$4,266$5,214$4,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,740
EXPENSES Loan Payment -$4,512
Property Tax -$1,249
Property Insurance -$80
Property Management Fees -$232
CASH FLOW
-$1,334

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.

$1,299,000

PROJECTED PRICE

$4,740

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.0%
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-$20k-$10k$0.0$10k$20k$30k

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$349,985

INVESTMENT

$349,985

Down Payment
$324,750
Rehab Estimate
$5,750
Closing Costs
$19,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,512

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $324,750
Loan Amount $974,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$8,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,740

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $4,313

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$4,100
1$4,1002$4,4003$4,5004$4,7405$4,750
$4,750
RENT COMPS ANALYSIS
  • 3848 Karen Lynn Drive Glendale, CA 4
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,740
    • $2.14
    •  
  • 2940 Graceland Way Glendale, CA 1
    • 3 beds 3 baths ∙ 2,422 Sqft ∙ Built 1965 3 beds 3 baths ∙ 2,422 Sqft ∙ Built 1965
    property image
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.69
    •  
  • 4502 Daleridge Road La Canada Flintridge, CA 2
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 1962
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $1.83
    •  
  • 3852 Karen Lynn Drive Glendale, CA 3
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1969
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.12
    •  
  • 1980 Crestshire Drive Glendale, CA 5
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1965
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.16
    •  
PROPERTY LISTING DETAILS
Edward Mcnevin
Re/max Tri-city Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-3719
Last Updated: 03/13/2021
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