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810 N Lincoln Street Burbank, CA 91506

4 Beds 1 Baths 1,828 sqft Built 1924

$985,000

List Price

$4,200

$4K - $4.5K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
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.

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Chandler Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16803697

* 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
Thomas Edison Elementary School Primary Regular 542 19 8
David Starr Jordan Middle School Middle Regular 1,080 41 6
John Burroughs High School High Regular 2,649 108 8

Thomas Edison Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 19
8
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
 

$886,500$1,083,500$985,000

PURCHASE PRICE

$3,780$4,620$4,200

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$266,775

INVESTMENT

$266,775

Down Payment
$246,250
Rehab Estimate
$5,750
Closing Costs
$14,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $246,250
Loan Amount $738,750
See What Happens When You Reinvest Cash Flow

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
$3,000
1$3,0002$4,0003$4,2004$4,3005$4,750
$4,750
RENT COMPS ANALYSIS
  • 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
Elena Hubbell
Dilbeck Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB21016641
Last Updated: 01/29/2021
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