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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $603.86
- 3 Days on Market
- MLS # : P1-3426
- Updated Date : 02/19/2021 at 19:09
CONSTRUCTION
- Beds : 3
- Floor Size : 2,070 sqft
- Baths : 2 full , 1 half
Listing Agent
Teamprovident, Inc.
Listing Agent's Description
This gracious1989 traditional has been extensively upgraded with style and good taste. Situated on an amazing 9,300 SF flat lot on on a quiet street, the property is conveniently close to the amazing recreational and cultural amenities that Pasadena offers. The Rose Bowl is just a short walk away and the drive to Old Town is 5 mintues. A private and relaxing front yard and porch welcome you. The house features a formal entry foyer, an airy living room with high ceilings, a formal dining room with French doors, a recently upgraded kitchen with Viking and Bertazzoni appliances, and a wonderful family room. There are 3 bedrooms and 2 1/2 baths. The master suite has been upgraded and features dual sinks and a six-jet shower. The laundry room is upstairs near the bedrooms. There are generous closets throughout. There is a park-like back yard, with a large patio and lawn. The property is steps away from Chandler School. Located behind gates, the backyard offers a secure haven where kids and pets can play safely. Many mature trees on the property enhance the serenity and privacy. Three-car garage with vast storage loft. Southern California living at its best! Video Tour: https://vimeo.com/514148295/5ca6d838f4 3D Tour: https://my.matterport.com/show/?m=CpxR2H47cUc&mls=1
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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: Prospect Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Prospect Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,130 |
| EXPENSES | Loan Payment | -$4,342 |
| Property Tax | -$1,215 | |
| Property Insurance | -$77 | |
| Property Management Fees | -$202 | |
|
CASH FLOW
-$1,706
|
||
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.
$1,250,000
PROJECTED PRICE
$4,130
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 4.0% |
| 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
$337,000
LOAN DETAILS
$4,342
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $312,500 |
| Loan Amount | $937,500 |
0.25
YEARS SAVED
$582
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,130
LIST RENT -
$2
LIST RENT PER SQFT
-
$4,145
COMP ESTIMATED VALUE -
$2
COMP AVG. RENT PER SQFT
Comps Range
-
763 N Pasadena Avenue Pasadena, CA 4
- 3 beds 3 baths ∙ 2,070 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,070 Sqft ∙ Built 1989
- Rent
- Rent Per SQFT
- $4,130
- $2.00
-
286 N Madison Avenue Pasadena, CA 1
- 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2003
LEASED 07/31/20- Rent
- Rent Per SQFT
- $3,500
- $1.96
-
1082 Kirkwood Avenue Pasadena, CA 2
- 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 1977
LEASED 10/10/20- Rent
- Rent Per SQFT
- $3,800
- $1.94
-
252 Palmetto Drive Pasadena, CA 3
- 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1975
LEASED 12/30/19- Rent
- Rent Per SQFT
- $4,000
- $2.16
-
211 S Orange Grove Boulevard Pasadena, CA 5
- 3 beds 3 baths ∙ 2,311 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,311 Sqft ∙ Built 1975
LEASED 11/11/19- Rent
- Rent Per SQFT
- $4,500
- $1.95
PROPERTY LISTING DETAILS
Teamprovident, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: P1-3426
Last Updated: 02/19/2021
