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401 Andover Drive Burbank, CA 91504

3 Beds 1 Baths 1,681 sqft Built 1952

$999,888

List Price

$3,760

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $594.82
  • 2 Days on Market
  • MLS # : SB21058643
  • Updated Date : 03/20/2021 at 13:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,681 sqft
  • Baths : 1 full
Listing Agent

Golden West Realty

Listing Agent's Description

Beautifully finished and maintained home in the Burbank Hills. This pristine property is located on a large corner lot. It features a large and bright living area. Living room has a cozy fireplace and hardwood floors. Other great features; HVAC system was completely replaced appx 4 years ago, attic was insulated, garage was insulated and drywall installed, new dual pane windows, Large laundry area in enclosed breezeway off the garage, The property is freshly painted inside and out, the grounds are meticulously maintained. Tons of parking off of the garage, RV or boat parking. The backyard is perfect for entertaining as well. This lovely home is well located with close proximity to hiking trails, parks and downtown shops and restaurants. This is a definite must see.

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: Hillside District

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k917k

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

Neighborhood: Hillside District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844015

* 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
Thomas Jefferson Elementary School Primary Regular 749 25 8
John Muir Middle School Middle Regular 1,408 55 8
Burbank High School High Regular 2,606 106 8

Thomas Jefferson Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 25
8
GreatSchools Rating

John Muir Middle School

  • Education Level: Middle
  • # of students: 1,408
  • # of teachers: 55
8
GreatSchools Rating

Burbank High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 106
8
GreatSchools Rating
 

$899,899$1,099,877$999,888

PURCHASE PRICE

$3,384$4,136$3,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,760
EXPENSES Loan Payment -$3,473
Property Tax -$932
Property Insurance -$68
Property Management Fees -$184
CASH FLOW
-$897

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.

$999,888

PROJECTED PRICE

$3,760

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.2%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$270,720

INVESTMENT

$270,720

Down Payment
$249,972
Rehab Estimate
$5,750
Closing Costs
$14,998

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,972
Loan Amount $749,916
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$11,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,760

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $4,177

    COMP ESTIMATED VALUE
  • $2.49

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,7603$3,9254$4,4005$4,500
$4,500
RENT COMPS ANALYSIS
  • 401 Andover Drive Burbank, CA 2
    • 3 beds 1 baths ∙ 1,681 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,681 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $3,760
    • $2.24
    •  
  • 651 Price Drive Burbank, CA 1
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1952
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.40
    •  
  • 2415 N Lincoln Street Burbank, CA 3
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1939
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,925
    • $2.61
    •  
  • 834 Delaware Road Burbank, CA 4
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1953
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.54
    •  
  • 727 E Walnut Avenue Burbank, CA 5
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1953
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.39
    •  
PROPERTY LISTING DETAILS
Lidija Bacelic
Golden West Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21058643
Last Updated: 03/20/2021
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