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PROPERTY INFO
FACTS
- Single Family
- Built In 1947
- Price/Sqft : $610.72
- 7 Days on Market
- MLS # : BB21001378
- Updated Date : 01/07/2021 at 14:48
CONSTRUCTION
- Beds : 3
- Floor Size : 2,127 sqft
- Baths : 2 full , 1 half
Listing Agent
Vonkeith Properties
Listing Agent's Description
Welcome to this stylish modern turnkey home. This home has 3 bedrooms & 2.5 bathrooms with California native landscaping and blended with traditional grass. Entering the home there is a formal living area with a built-in bookshelf & a traditional dining area filled with natural light. As you enter the heart of the house, you will find the updated kitchen that is open to the rest of the house. The kitchen features stainless steel appliances with ample storage space and a wine refrigerator. Past the kitchen you are welcomed by a large family room with a beautiful brick fireplace, built in storage and buffet with large glass doors that lead to the backyard. The serene backyard is low maintenance and offers you exclusive privacy with large hedges. Accessed through the family room, there is a master retreat upstairs with vaulted wood ceilings and a bathroom that features a large step in shower with built-in bench. The master balcony looks over the private backyard. The 2nd & 3rd bedrooms are located on the main level of the house. These bedrooms have access to an oversized bathroom which features a double sinks and an enclosed glass shower with built-in bench. Located off the kitchen is a separate laundry room with built in shelving with entry to a partially gated driveway that creates a secondary patio space. The front part of the driveway can fit 2 cars. Located across the street from Stevensons Elementary School. Short distance to Whole Foods, Studios and Toluca Lake Village.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Mcneil
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mcneil
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,590 |
| EXPENSES | Loan Payment | -$4,512 |
| Property Tax | -$1,211 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$225 | |
|
CASH FLOW
-$1,436
|
||
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
$4,590
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$349,985
LOAN DETAILS
$4,512
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $324,750 |
| Loan Amount | $974,250 |
1
YEARS SAVED
$5,277
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,590
LIST RENT -
$2.16
LIST RENT PER SQFT
-
$4,578
COMP ESTIMATED VALUE -
$2.15
COMP AVG. RENT PER SQFT
Comps Range
-
433 N Avon Street Burbank, CA 5
- 3 beds 3 baths ∙ 2,127 Sqft ∙ Built 1947 3 beds 3 baths ∙ 2,127 Sqft ∙ Built 1947
![property image]()
- Rent
- Rent Per SQFT
- $4,590
- $2.16
-
1438 N Pepper Street Burbank, CA 1
- 3 beds 1 baths ∙ 1,794 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,794 Sqft ∙ Built 1953
![property image]()
LEASED 08/12/20- Rent
- Rent Per SQFT
- $3,600
- $2.01
-
10918 Bloomfield Street Toluca Lake, CA 2
- 3 beds 1 baths ∙ 1,816 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,816 Sqft ∙ Built 1960
![property image]()
LEASED 07/10/20- Rent
- Rent Per SQFT
- $4,000
- $2.20
-
720 N Rose Street Burbank, CA 3
- 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1941
![property image]()
LEASED 10/02/19- Rent
- Rent Per SQFT
- $4,200
- $2.27
-
805 N Brighton Street Burbank, CA 4
- 3 beds 3 baths ∙ 1,969 Sqft ∙ Built 1940 3 beds 3 baths ∙ 1,969 Sqft ∙ Built 1940
![property image]()
LEASED 06/11/20- Rent
- Rent Per SQFT
- $4,200
- $2.13
PROPERTY LISTING DETAILS
Vonkeith Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: BB21001378
Last Updated: 01/07/2021
