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PROPERTY INFO
FACTS
- Single Family
- Built In 1932
- Price/Sqft : $560.42
- 9 Days on Market
- MLS # : 320004390
- Updated Date : 12/25/2020 at 13:47
CONSTRUCTION
- Beds : 3
- Floor Size : 1,713 sqft
- Baths : 1 full
Listing Agent
Keller Williams R.e. Services
Listing Agent's Description
This charming Spanish home is located in Glenoaks Canyon, one of Glendale's most sought after neighborhoods. The home features a living room with beamed ceilings. Some of the additional features include central A/C and heat, gleaming hardwood flooring and original architecture with archways. Sit on the cozy back balcony overlooking the gated backyard. The landscaping around the home is well maintained. There is a basement that offers extra storage room. There is also a detached garage. The location is close to parks, schools, hiking trails, hospitals, golf courses, and country clubs.
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MARKET HIGHLIGHTS
- 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)
- 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]
PRICE & RENT TRENDS
Neighborhood: Glenoaks Canyon
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Glenoaks Canyon
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,020 |
| EXPENSES | Loan Payment | -$3,542 |
| Property Tax | -$923 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$197 | |
|
CASH FLOW
-$711
|
||
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.
$960,000
PROJECTED PRICE
$4,020
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 8.7% |
| 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
$260,150
LOAN DETAILS
$3,542
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $240,000 |
| Loan Amount | $720,000 |
2.67
YEARS SAVED
$24,662
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,020
LIST RENT -
$2.35
LIST RENT PER SQFT
-
$4,047
COMP ESTIMATED VALUE -
$2.36
COMP AVG. RENT PER SQFT
Comps Range
-
417 Scholl Drive Glendale, CA 2
- 3 beds 1 baths ∙ 1,713 Sqft ∙ Built 1932 3 beds 1 baths ∙ 1,713 Sqft ∙ Built 1932
- Rent
- Rent Per SQFT
- $4,020
- $2.35
-
2230 E Glenoaks Boulevard Glendale, CA 1
- 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1926
LEASED 10/07/19- Rent
- Rent Per SQFT
- $3,500
- $2.28
-
2656 E Glenoaks Boulevard Glendale, CA 3
- 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1935
LEASED 03/08/20- Rent
- Rent Per SQFT
- $4,200
- $2.38
-
2641 Hollister Terrace Glendale, CA 4
- 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1935
LEASED 09/09/19- Rent
- Rent Per SQFT
- $4,450
- $2.46
-
5126 Hermosa Avenue Los Angeles, CA 5
- 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 1913 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 1913
LEASED 10/29/19- Rent
- Rent Per SQFT
- $4,500
- $2.33
PROPERTY LISTING DETAILS
Keller Williams R.e. Services
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 320004390
Last Updated: 12/25/2020
