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403 Cameron Place Glendale, CA 91207

3 Beds 2 Baths 1,530 sqft Built 1917

$895,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1917
  • Price/Sqft : $584.97
  • 3 Days on Market
  • MLS # : P1-2202
  • Updated Date : 11/07/2020 at 14:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,530 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Beautiful 1917 Craftsman in prime Glendale location. Adjacent to Rossmoyne neighborhood, this 3 bedroom, 2 bath home sits on a spacious 8,567 square foot lot zone R4 (R1250). The large garage features two 2-car and one single car stalls. The possibilities for the property are endless. Perfect for an investor or buyer looking to add income units to their own property.

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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)
  • 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: Rossmoyne

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $199k953k

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

Neighborhood: Rossmoyne

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17843962

* 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
Richardson D. White Elementary School Primary Regular 935 34 8
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6

Richardson D. White Elementary School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 34
8
GreatSchools Rating

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
 

$805,500$984,500$895,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$3,302
Property Tax -$861
Property Insurance -$64
Property Management Fees -$160
CASH FLOW
-$1,117

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.

$895,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 9.3%
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-$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$242,925

INVESTMENT

$242,925

Down Payment
$223,750
Rehab Estimate
$5,750
Closing Costs
$13,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,302

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $223,750
Loan Amount $671,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $3,508

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$3,270
1$3,2702$3,5003$3,8004$3,9005$4,200
$4,200
RENT COMPS ANALYSIS
  • 403 Cameron Place Glendale, CA 1
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1917 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1917
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $2.14
    •  
  • 733 N Glendale Avenue Glendale, CA 2
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1931
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.29
    •  
  • 520 N Howard Street Glendale, CA 3
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1936 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1936
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.34
    •  
  • 1009 N Isabel Street Glendale, CA 4
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1925 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1925
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.29
    •  
  • 1101 N Kenilworth Avenue Glendale, CA 5
    • 4 beds 1 baths ∙ 1,863 Sqft ∙ Built 1924 4 beds 1 baths ∙ 1,863 Sqft ∙ Built 1924
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.25
    •  
PROPERTY LISTING DETAILS
Gillan Abercrombie
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2202
Last Updated: 11/07/2020
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