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615 Sinclair Avenue Glendale, CA 91206

3 Beds 3 Baths 1,720 sqft Built 1996

$899,000

List Price

$3,510

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $522.67
  • 2 Days on Market
  • MLS # : 320004551
  • Updated Date : 01/09/2021 at 20:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,720 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prominent Realty Group

Listing Agent's Description

This recently renovated, beautiful home is sited on a quiet and scenic cul-de-sac in Glendale. It provides the perfect balance of peace, privacy, and accessibility to main streets of the city. Notable highlights include an open floor plan on the main floor, wrap-around balconies on each floor, high ceilings, hard-wood floors, 3 built-in fireplaces, recently upgraded kitchen and bathrooms with marble/tile floors, plenty of storage and a two car garage. As an added bonus, there is a large covered roof top that provides the perfect space to host and enjoy the mountainous views. Attic converted to a rec room, with an additional bathroom. Please do your own due diligence on square footage, remodel and permits.

SEE MORE

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: Woodbury

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k911k

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

Neighborhood: Woodbury

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17843874

* 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
Glenoaks Elementary School Primary Regular 556 22 6
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6

Glenoaks Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 22
6
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
 

$809,100$988,900$899,000

PURCHASE PRICE

$3,159$3,861$3,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,510
EXPENSES Loan Payment -$3,123
Property Tax -$864
Property Insurance -$69
Property Management Fees -$172
CASH FLOW
-$718

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.

$899,000

PROJECTED PRICE

$3,510

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.4%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$13,855

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,510

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $3,517

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,1953$3,2004$3,5005$3,510
$3,510
RENT COMPS ANALYSIS
  • 615 Sinclair Avenue Glendale, CA 5
    • 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,510
    • $2.04
    •  
  • 240 N Adams Street Glendale, CA 1
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1981
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.89
    •  
  • 345 N Kenwood Street Glendale, CA 2
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1990
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.22
    •  
  • 400 Cameron Place Glendale, CA 3
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 2004
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.18
    •  
  • 644 Atkins Drive Glendale, CA 4
    • 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1985
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.89
    •  
PROPERTY LISTING DETAILS
Anahit Martikyan
Prominent Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320004551
Last Updated: 01/09/2021
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