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401 S Parish Place Burbank, CA 91506

3 Beds 2 Baths 1,349 sqft Built 1939

$899,000

List Price

$3,760

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $666.42
  • 4 Days on Market
  • MLS # : 320004769
  • Updated Date : 01/29/2021 at 17:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,349 sqft
  • Baths : 2 full
Listing Agent

Johnhart Real Estate

Listing Agent's Description

On a picturesque in street in the coveted city of Burbank resides a charming 3-bedroom, 2-bathroom, 1,349-sqft home with detached 2-car garage! Inside, find a vibrant home illuminated by large windows and recessed lights to enhance the glossy wood floors throughout. The spacious living room includes a cozy fireplace to create a relaxing ambiance. Through the open dining room is nice sized kitchen equipped with all stainless-steel appliances and fitted with a mahogany tone cabinetry, stone counters with breakfast bar, and subway tile backsplash. Each bedroom includes built-in closet space and overhead ceiling fans while the large of the three includes a separate entrance through the backyard. Both bathrooms include walk-in showers while the larger of the two includes a separate bathtub. From a set of double French doors in the dining room, venture out to a private oasis featuring luscious grassy space and a sparkling pool with attached spa. Nearby Walt Disney Studios, Pavilions, Vons, Target, local schools, bakery's, restaurants, shopping, local parks and hiking trails, plus easy freeway access and much more!

SEE MORE

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rancho Adjacent

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k871k

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

Neighborhood: Rancho Adjacent

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
R.l. Stevenson Elementary School Primary Regular 572 22 8
David Starr Jordan Middle School Middle Regular 1,080 41 6
John Burroughs High School High Regular 2,649 108 8

R.l. Stevenson Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 22
8
GreatSchools Rating

David Starr Jordan Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 41
6
GreatSchools Rating

John Burroughs High School

  • Education Level: High
  • # of students: 2,649
  • # of teachers: 108
8
GreatSchools Rating
 

$809,100$988,900$899,000

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 -$3,123
Property Tax -$838
Property Insurance -$60
Property Management Fees -$184
CASH FLOW
-$445

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.

$899,000

PROJECTED PRICE

$3,760

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.9%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$31,064

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
  • $2.79

    LIST RENT PER SQFT
  • $3,939

    COMP ESTIMATED VALUE
  • $2.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,7603$3,8004$4,4955$4,675
$4,675
RENT COMPS ANALYSIS
  • 401 S Parish Place Burbank, CA 2
    • 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1939
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,760
    • $2.79
    •  
  • 1304 W Morningside Drive Burbank, CA 1
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1941
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.38
    •  
  • 351 W Elm Avenue Burbank, CA 3
    • 3 beds 1 baths ∙ 1,231 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,231 Sqft ∙ Built 1940
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.09
    •  
  • 410 N Frederic Street Burbank, CA 4
    • 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1947
    property image
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $3.00
    •  
  • 421 N Fairview Street Burbank, CA 5
    • 3 beds 1 baths ∙ 1,456 Sqft ∙ Built 1925 3 beds 1 baths ∙ 1,456 Sqft ∙ Built 1925
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,675
    • $3.21
    •  
PROPERTY LISTING DETAILS
Albert Babayan
Johnhart Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320004769
Last Updated: 01/29/2021
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