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815 N Lincoln Street Burbank, CA 91506

3 Beds 2 Baths 1,360 sqft Built 1940

$895,000

List Price

$3,740

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $658.09
  • 5 Days on Market
  • MLS # : SC21150068
  • Updated Date : 07/09/2021 at 16:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,360 sqft
  • Baths : 2 full
Listing Agent

Pacific Capital Management

Listing Agent's Description

Opportunity Awaits the new owner of this 3 bedroom, 2 bathroom home on a nice sized lot in a pride of ownership neighborhood located a block from the Chandler Bikepath and Thomas Edison Elementary School, with John Burroughs High School and shopping nearby, including the Burbank Town Center, Nordstrom Rack, REI and more. Home features Mid-Century Modern built-ins in the dining room, stainless appliances in the kitchen, air conditioning, fireplace with gas starter, French doors from the back bedroom onto the yard, large windows in the entry and living room bringing in natural light and more. Large studio in the back features tall ceilings in part, roll up garage door and more. Great opportunity for the buyer to purchase this property in a pride of ownership neighborhood and make the house their home. Don’t miss out on this opportunity. Call your REALTOR now to make an offer. ***PLEASE DO NOT DISTURB OCCUPANTS***

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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

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
 

$805,500$984,500$895,000

PURCHASE PRICE

$3,366$4,114$3,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,740
EXPENSES Loan Payment -$3,109
Property Tax -$835
Property Insurance -$60
Property Management Fees -$183
CASH FLOW
-$446

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.

$895,000

PROJECTED PRICE

$3,740

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$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$242,925

INVESTMENT

$242,925

Down Payment
$223,750
Rehab Estimate
$5,750
Closing Costs
$13,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,109

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $223,750
Loan Amount $671,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$30,647

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,740

    LIST RENT
  • $2.75

    LIST RENT PER SQFT
  • $4,209

    COMP ESTIMATED VALUE
  • $3.1

    COMP AVG. RENT PER SQFT
Comps Range
$3,740
1$3,7402$3,7503$4,2504$4,2755$4,800
$4,800
RENT COMPS ANALYSIS
  • 815 N Lincoln Street Burbank, CA 1
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1940
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,740
    • $2.75
    •  
  • 1412 N Fairview Street Burbank, CA 2
    • 3 beds 1 baths ∙ 1,262 Sqft ∙ Built 1939 3 beds 1 baths ∙ 1,262 Sqft ∙ Built 1939
    property image
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.97
    •  
  • 719 N Sparks Street Burbank, CA 3
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1942
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.84
    •  
  • 843 N Florence Street Burbank, CA 4
    • 3 beds 2 baths ∙ 1,333 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,333 Sqft ∙ Built 1939
    property image
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,275
    • $3.21
    •  
  • 840 N Buena Vista Street Burbank, CA 5
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1947
    property image
    LEASED 04/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.36
    •  
PROPERTY LISTING DETAILS
Shannon Fitzpatrick
Pacific Capital Management
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SC21150068
Last Updated: 07/09/2021
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