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PROPERTY INFO
FACTS
- Single Family
- Built In 1924
- Price/Sqft : $538.84
- 5 Days on Market
- MLS # : BB21016641
- Updated Date : 01/29/2021 at 07:08
CONSTRUCTION
- Beds : 4
- Floor Size : 1,828 sqft
- Baths : 1 full
Listing Agent
Dilbeck Real Estate
Listing Agent's Description
Here’s a great opportunity in a highly sought after area of Burbank. This four bedroom, two bath home with over 1800 sq ft of living space offers an abundance of options. Enter this Classic Spanish Style home, with an entry to a large Living Room with a fireplace and hardwood floors flowing into the spacious Formal Dining Room. The adjacent kitchen with plenty of cabinet space also enjoys an eating area and access to the rear patio and pool. The large light and bright Family Room allows for many choices for entertaining or just relaxing with a mountain view. A large Master Suite has plenty of closet space and a bathroom with a separate stall shower and a bathtub as well. With the three additional bedrooms there is always the option for a home office. For outside fun add a large swimming pool ready to entertain and enjoy or take a walk on the nearby Chandler Bike Path. Restaurants and shopping are nearby for all your conveniences.
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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: 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 | -$3,421 |
| Property Tax | -$918 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$206 | |
|
CASH FLOW
-$417
|
||
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.
$985,000
PROJECTED PRICE
$4,200
PROJECTED RENT
0.43%
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
$266,775
LOAN DETAILS
$3,421
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $246,250 |
| Loan Amount | $738,750 |
4.17
YEARS SAVED
$39,439
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 -
$2.3
LIST RENT PER SQFT
-
$4,218
COMP ESTIMATED VALUE -
$2.31
COMP AVG. RENT PER SQFT
Comps Range
-
810 N Lincoln Street Burbank, CA 3
- 4 beds 1 baths ∙ 1,828 Sqft ∙ Built 1924 4 beds 1 baths ∙ 1,828 Sqft ∙ Built 1924
- Rent
- Rent Per SQFT
- $4,200
- $2.30
-
2321 W Chandler Boulevard Burbank, CA 1
- 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1939
LEASED 05/18/20- Rent
- Rent Per SQFT
- $3,000
- $1.84
-
1105 N Lima Street Burbank, CA 2
- 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1943
LEASED 09/07/20- Rent
- Rent Per SQFT
- $4,000
- $2.35
-
1120 N Florence Street Burbank, CA 4
- 4 beds 1 baths ∙ 1,705 Sqft ∙ Built 1940 4 beds 1 baths ∙ 1,705 Sqft ∙ Built 1940
LEASED 12/06/20- Rent
- Rent Per SQFT
- $4,300
- $2.52
-
629 N Brighton Street Burbank, CA 5
- 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1941
LEASED 04/28/20- Rent
- Rent Per SQFT
- $4,750
- $2.52
PROPERTY LISTING DETAILS
Dilbeck Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: BB21016641
Last Updated: 01/29/2021
