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717 N Priscilla Lane Burbank, CA 91505

3 Beds 2 Baths 1,854 sqft Built 1941

$1,125,000

List Price

$4,470

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $606.80
  • 5 Days on Market
  • MLS # : 20658582
  • Updated Date : 11/11/2020 at 15:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,854 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Updated Toluca Woods treasure in sought after Burbank neighborhood. Bright interior has been re-imagined for modern living with decorative stone and wrought iron entry and cov'd porch leading to inviting open plan featuring spacious living room with wood-burning fireplace and original hardwood floors, entertainer's large dine-in kitchen with gorgeous stainless steel appliances, quality wood cabinetry and sleek granite countertops. Gather family and friends for movies & game night in the oversized family room or relish quiet time in office/fitness space in the converted garage. An airy master suite offers privacy, an elegant en suite with stone tile, glass shower enclosure and access to lush landscaped backyard, perfect for grilling, relaxing, outdoor games and room for pool. Family bedrooms share a remodeled full bathroom and bonus room can be a great playroom/office. Includes new electrical & plumbing. Enjoy top-rated schools, shopping, dining, parks and more in the heart of Burbank!

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: Magnolia Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Magnolia Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Theodore Roosevelt Elementary School Primary Regular 633 22 9
David Starr Jordan Middle School Middle Regular 1,080 41 6
John Burroughs High School High Regular 2,649 108 8

Theodore Roosevelt Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 22
9
GreatSchools Rating

David Starr Jordan Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 41
6
GreatSchools Rating

John Burroughs High School

  • Education Level: High
  • # of students: 2,649
  • # of teachers: 108
8
GreatSchools Rating
 

$1,012,500$1,237,500$1,125,000

PURCHASE PRICE

$4,023$4,917$4,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,470
EXPENSES Loan Payment -$4,151
Property Tax -$1,049
Property Insurance -$72
Property Management Fees -$219
CASH FLOW
-$1,021

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.

$1,125,000

PROJECTED PRICE

$4,470

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$303,875

INVESTMENT

$303,875

Down Payment
$281,250
Rehab Estimate
$5,750
Closing Costs
$16,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $281,250
Loan Amount $843,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$18,096

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,470

    LIST RENT
  • $2.41

    LIST RENT PER SQFT
  • $4,477

    COMP ESTIMATED VALUE
  • $2.42

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,0003$4,4704$4,5005$4,800
$4,800
RENT COMPS ANALYSIS
  • 717 N Priscilla Lane Burbank, CA 3
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1941
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,470
    • $2.41
    •  
  • 1105 N Lima Street Burbank, CA 1
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1943
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.35
    •  
  • 4600 Forman Avenue Toluca Lake, CA 2
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1923
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.24
    •  
  • 927 N Lima Street Burbank, CA 4
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1925 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1925
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.25
    •  
  • 4906 Placidia Avenue Toluca Lake, CA 5
    • 3 beds 4 baths ∙ 1,705 Sqft ∙ Built 1941 3 beds 4 baths ∙ 1,705 Sqft ∙ Built 1941
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.82
    •  
PROPERTY LISTING DETAILS
Craig Strong
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20658582
Last Updated: 11/11/2020
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