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595 Avocado Avenue Pasadena, CA 91107

3 Beds 1 Baths 2,000 sqft Built 1947

$1,400,000

List Price

$4,720

$4.5K - $5K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $700.00
  • 2 Days on Market
  • MLS # : P1-2310
  • Updated Date : 11/14/2020 at 13:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,000 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Have you always wanted an ultra-modern updated home with a sparkling pool? One enters a large entry/sitting area with a wine closet. This could also be a home office area. The living room and dining room are wide open with plenty of light and sliders to the outdoors. The living room features a floating gas fireplace. A beautiful lighting with golden Edison bulbs is in the dining room. The kitchen is bright white and features two islands; one as a breakfast bar and the other for storage. The kitchen includes refrigerator, gas stove, dishwasher and microwave. Three bedrooms including ensuite with a very large walk-in closet and a bath with a spacious enclosed shower. Step out to the backyard pool, outdoor shower and a pool room with sink, storage and bath. Laundry room with storage. Wood flooring throughout. Recessed lighting. Sound system. Two-car garage with workbench. Covered patio. Conveniently located near shopping, restaurants and the Gold Line. With staying at home so much these days, why not have everything you need?

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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: East Eaton Wash

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: East Eaton Wash

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15983697

* 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
Norma Coombs Elementary School Primary Regular 440 18 5
Woodrow Wilson Middle School Middle Regular 570 27 4
Pasadena High School High Regular 1,903 84 6

Norma Coombs Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 18
5
GreatSchools Rating

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students: 570
  • # of teachers: 27
4
GreatSchools Rating

Pasadena High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 84
6
GreatSchools Rating
 

$1,260,000$1,540,000$1,400,000

PURCHASE PRICE

$4,248$5,192$4,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,720
EXPENSES Loan Payment -$5,165
Property Tax -$1,361
Property Insurance -$75
Property Management Fees -$231
CASH FLOW
-$2,113

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.

$1,400,000

PROJECTED PRICE

$4,720

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$376,750

INVESTMENT

$376,750

Down Payment
$350,000
Rehab Estimate
$5,750
Closing Costs
$21,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$5,165

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $350,000
Loan Amount $1,050,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,720

    LIST RENT
  • $2.36

    LIST RENT PER SQFT
  • $3,965

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6003$3,8004$4,2005$4,720
$4,720
RENT COMPS ANALYSIS
  • 595 Avocado Avenue Pasadena, CA 5
    • 3 beds 1 baths ∙ 2,000 Sqft ∙ Built 1947 3 beds 1 baths ∙ 2,000 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $4,720
    • $2.36
    •  
  • 3830 Greenhill Road Pasadena, CA 1
    • 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1951
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.83
    •  
  • 970 Medford Road Pasadena, CA 2
    • 3 beds 1 baths ∙ 1,860 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,860 Sqft ∙ Built 1951
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.94
    •  
  • 3665 Shadow Grove Road Pasadena, CA 3
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1950
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.11
    •  
  • 1270 Daveric Drive Pasadena, CA 4
    • 4 beds 1 baths ∙ 2,044 Sqft ∙ Built 1951 4 beds 1 baths ∙ 2,044 Sqft ∙ Built 1951
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.05
    •  
PROPERTY LISTING DETAILS
Gregory Stanton
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2310
Last Updated: 11/14/2020
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