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PROPERTY INFO
FACTS
- Single Family
- Built In 1941
- Price/Sqft : $616.90
- 4 Days on Market
- MLS # : P1-3400
- Updated Date : 02/20/2021 at 10:54
CONSTRUCTION
- Beds : 3
- Floor Size : 1,775 sqft
- Baths : 2 full
Listing Agent
Compass
Listing Agent's Description
Beautiful Spanish in prime Toluca Woods neighborhood. Bright open floor plan with remodeled kitchen and vaulted ceilings. 3 bedrooms plus an office (can be used as 4th bedroom). Spectacular master suite with with hardwood floors and two closets. The updated master bath features a soaking tub, large shower, dual sinks and the finest finishes. French doors lead to the spacious back yard and tiled patio. Minutes from the Media District, Toluca Lake Village and all that Burbank has to offer!
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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)
- 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
- 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: 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 | $3,880 |
| EXPENSES | Loan Payment | -$3,803 |
| Property Tax | -$1,021 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$190 | |
|
CASH FLOW
-$1,204
|
||
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.
$1,095,000
PROJECTED PRICE
$3,880
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
$295,925
LOAN DETAILS
$3,803
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $273,750 |
| Loan Amount | $821,250 |
1
YEARS SAVED
$4,564
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,880
LIST RENT -
$2.19
LIST RENT PER SQFT
-
$4,154
COMP ESTIMATED VALUE -
$2.34
COMP AVG. RENT PER SQFT
Comps Range
-
4404 W Verdugo Avenue Burbank, CA 2
- 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1941
- Rent
- Rent Per SQFT
- $3,880
- $2.19
-
835 N Fairview Street Burbank, CA 1
- 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1938
LEASED 01/27/21- Rent
- Rent Per SQFT
- $3,800
- $2.16
-
1105 N Lima Street Burbank, CA 3
- 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1943
LEASED 09/07/20- Rent
- Rent Per SQFT
- $4,000
- $2.35
-
4600 Forman Avenue Toluca Lake, CA 4
- 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1923
LEASED 05/20/20- Rent
- Rent Per SQFT
- $4,000
- $2.24
-
731 N Maple Street Burbank, CA 5
- 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1940
LEASED 04/15/20- Rent
- Rent Per SQFT
- $4,200
- $2.61
PROPERTY LISTING DETAILS
Compass
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: P1-3400
Last Updated: 02/20/2021
