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7517 N Ontario Street Burbank, CA 91504

3 Beds 2 Baths 1,288 sqft Built 1953

$830,149

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $644.53
  • 2 Days on Market
  • MLS # : DW21000538
  • Updated Date : 01/02/2021 at 15:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,288 sqft
  • Baths : 2 full
Listing Agent

Homesmart Realty Group

Listing Agent's Description

LOCATION! LOCATION! THIS COMFORTABLE HOME ON A QUIET CUL-DE-SAC STREET HAS 3 BEDROOMS AND 2 BATHS WITH A SPACIOUS 7,000 SQUARE FOOT LOT. NEW ROOF AND UPDATED PLUMBING. ENJOY THE BACKYARD WITH THE ATTRACTIVE OVERSIZED POOL AND PATIO WITH SEATING AREA. NEW CONCRETE DRIVEWAY WITH 2 CAR DETACHED GARAGE.

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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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sun Valley

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: Sun Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14462941

* 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
Glenwood Elementary School Primary Regular 436 21 1
Sun Valley Magnet School Middle Regular 1,168 61 4
John H Francis Polytechnic Senior High High Regular 2,929 121 4

Glenwood Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 21
1
GreatSchools Rating

Sun Valley Magnet School

  • Education Level: Middle
  • # of students: 1,168
  • # of teachers: 61
4
GreatSchools Rating

John H Francis Polytechnic Senior High

  • Education Level: High
  • # of students: 2,929
  • # of teachers: 121
4
GreatSchools Rating
 

$747,134$913,164$830,149

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$3,063
Property Tax -$836
Property Insurance -$58
Property Management Fees -$155
CASH FLOW
-$943

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$830,149

PROJECTED PRICE

$3,170

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

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$225,739

INVESTMENT

$225,739

Down Payment
$207,537
Rehab Estimate
$5,750
Closing Costs
$12,452

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,063

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,537
Loan Amount $622,612
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$5,188

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,170

    LIST RENT
  • $2.46

    LIST RENT PER SQFT
  • $3,159

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,1703$3,7504$3,9005$3,925
$3,925
RENT COMPS ANALYSIS
  • 7517 N Ontario Street Burbank, CA 2
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $2.46
    •  
  • 2144 N Buena Vista Street Burbank, CA 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1942
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.23
    •  
  • 2223 N Niagara Street Burbank, CA 3
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1947
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.58
    •  
  • 2929 N Lincoln Street Burbank, CA 4
    • 3 beds 1 baths ∙ 1,630 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,630 Sqft ∙ Built 1950
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.39
    •  
  • 2415 N Lincoln Street Burbank, CA 5
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1939
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,925
    • $2.61
    •  
PROPERTY LISTING DETAILS
Gladys Reyes
Homesmart Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21000538
Last Updated: 01/02/2021
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