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PROPERTY INFO
FACTS
- Single Family
- Built In 1939
- Price/Sqft : $752.66
- 4 Days on Market
- MLS # : OC21150208
- Updated Date : 07/12/2021 at 14:09
CONSTRUCTION
- Beds : 3
- Floor Size : 1,694 sqft
- Baths : 2 full , 1 half
Listing Agent
Coastal Trend Realty
Listing Agent's Description
Welcome home to this beautiful 3 bedroom, 3 bath home located along a tree lined street in Chandler Path East, just a 1/2 block from the Chandler walk/bike path. This open concept floor plan offers 1692 sqft of living space, a formal living area, office nook that is perfect for remote working or kids school work. Past renovations include the kitchen, a chef and entertainers dream, 6 burner Thermador stove with stainless steel hood, large island with granite counter top, natural quartz counters and designer back splash. Custom cabinets offering tons of storage with pullout drawers, 2 sinks and a built in wine fridge. Wood flooring throughout the main living space and carpet in the main and front bedrooms. Spacious primary bedroom with ceiling fan and wall to wall closet. The primary bathroom features dual marble vanity, large travertine and marble shower and separate aerated tub with Chroma therapy. Indoor laundry area with washer and gas dryer hookups, as well as Central heat and air. The backyard is perfect for entertaining under the covered patio and grass lawn, which is fully fenced in. The oversized one car garage is drywalled with tons of storage as well as a ceiling fan. Perfect for a game room or workout room. Extra long driveway that would be great for boat or RV parking. Currently the schools are Edison Elementary, Burroughs High and Dolores Huerta M.S. Don’t miss this opportunity it will not last long!
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MARKET HIGHLIGHTS
- As part of Southern California area, Los Angeles market inherits all the benefits from the area.
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
- 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
- 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]
PRICE & RENT TRENDS
Neighborhood: Chandler Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Chandler Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,200 |
| EXPENSES | Loan Payment | -$4,429 |
| Property Tax | -$1,189 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$206 | |
|
CASH FLOW
-$1,691
|
||
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.
$1,275,000
PROJECTED PRICE
$4,200
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 8.6% |
| 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
$343,625
LOAN DETAILS
$4,429
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $318,750 |
| Loan Amount | $956,250 |
0.33
YEARS SAVED
$913
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,200
LIST RENT -
$2.48
LIST RENT PER SQFT
-
$4,498
COMP ESTIMATED VALUE -
$2.66
COMP AVG. RENT PER SQFT
Comps Range
-
809 N Doan Drive Burbank, CA 3
- 3 beds 3 baths ∙ 1,694 Sqft ∙ Built 1939 3 beds 3 baths ∙ 1,694 Sqft ∙ Built 1939
- Rent
- Rent Per SQFT
- $4,200
- $2.48
-
1108 N Beachwood Drive Burbank, CA 1
- 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1946
LEASED 11/07/20- Rent
- Rent Per SQFT
- $4,000
- $2.64
-
1122 N Florence Street Burbank, CA 2
- 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1940
LEASED 01/29/21- Rent
- Rent Per SQFT
- $4,000
- $2.38
-
719 N Sparks Street Burbank, CA 4
- 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1942
LEASED 10/25/20- Rent
- Rent Per SQFT
- $4,250
- $2.84
-
2321 W Chandler Boulevard Burbank, CA 5
- 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1939
LEASED 07/06/21- Rent
- Rent Per SQFT
- $4,500
- $2.76
PROPERTY LISTING DETAILS
Coastal Trend Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21150208
Last Updated: 07/12/2021
