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831 Victoria Place Burbank, CA 91504

3 Beds 2 Baths 1,450 sqft Built 1953

$1,229,000

List Price

$3,780

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $847.59
  • 7 Days on Market
  • MLS # : SR21030978
  • Updated Date : 02/19/2021 at 11:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Welcome home to your wonderful hillside retreat in a stunning setting tucked into one of the most desired neighborhoods in Burbank. This incredibly special home exudes charm and character. From the open floorpan, the expansive entertainers backyard with an awe inspiring view, magnificent deck, and rare cu-de-sac location, there is nothing on the market that compares. Highlights of this jewel include a combined Living Room/Dining Room great room centered by a lovely stone fireplace, beautiful hardwood floors, open kitchen with an abundance of counters, stainless steel appliances, cozy breakfast bar, French doors leading to a huge Arizona sunroom and an amazing backyard are just a few worth mentioning. Three marvelous bedrooms (one currently a tv room), 2 spacious bathrooms and did I mention the huge Arizona sunroom and the incredible views which complete this marvelous California residence? The convenience to everything is incredible - canyons, freeways, studios, restaurants and shops - all just moments away. This fabulous residence and its proximity to all could be the ingredient you need to complete your happy and healthy well-being in these every changing times.

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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: Hillside District

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k917k

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

Neighborhood: Hillside District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844015

* 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 Jefferson Elementary School Primary Regular 749 25 8
John Muir Middle School Middle Regular 1,408 55 8
Burbank High School High Regular 2,606 106 8

Thomas Jefferson Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 25
8
GreatSchools Rating

John Muir Middle School

  • Education Level: Middle
  • # of students: 1,408
  • # of teachers: 55
8
GreatSchools Rating

Burbank High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 106
8
GreatSchools Rating
 

$1,106,100$1,351,900$1,229,000

PURCHASE PRICE

$3,402$4,158$3,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,780
EXPENSES Loan Payment -$4,269
Property Tax -$1,146
Property Insurance -$62
Property Management Fees -$185
CASH FLOW
-$1,882

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.

$1,229,000

PROJECTED PRICE

$3,780

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.2%
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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$331,435

INVESTMENT

$331,435

Down Payment
$307,250
Rehab Estimate
$5,750
Closing Costs
$18,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,269

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $307,250
Loan Amount $921,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$122

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,780

    LIST RENT
  • $2.61

    LIST RENT PER SQFT
  • $3,763

    COMP ESTIMATED VALUE
  • $2.6

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,6003$3,7804$3,9255$4,200
$4,200
RENT COMPS ANALYSIS
  • 831 Victoria Place Burbank, CA 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $3,780
    • $2.61
    •  
  • 651 Price Drive Burbank, CA 1
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1952
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.40
    •  
  • 706 Stephen Road Burbank, CA 2
    • 3 beds 1 baths ∙ 1,349 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,349 Sqft ∙ Built 1951
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.67
    •  
  • 2415 N Lincoln Street Burbank, CA 4
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1939
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,925
    • $2.61
    •  
  • 925 Delaware Road Burbank, CA 5
    • 3 beds 1 baths ∙ 1,553 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,553 Sqft ∙ Built 1952
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.70
    •  
PROPERTY LISTING DETAILS
Therese Hyde
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21030978
Last Updated: 02/19/2021
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