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840 Grant Avenue Avenue Glendale, CA 91202

3 Beds 2 Baths 1,480 sqft Built 1939

$849,900

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $574.26
  • 8 Days on Market
  • MLS # : TR21146441
  • Updated Date : 07/12/2021 at 12:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,480 sqft
  • Baths : 2 full
Listing Agent

C-21 Masters

Listing Agent's Description

A MUST-SEE PROPERTY! CLOSE TO ALL ANYTHING YOU CAN FIND, SHOPS, SUPERMARKET, EASY ACCESS TO FREEWAY TOO! NICE KITCHEN, WOOD FLOORING IN THE LIVING ROOM AREA WITH A COZY FIREPLACE. HAS LAUNDRY AREA. BACKYARD IS PERFECT FOR ENTERTAINMENT WITH FRIENDS AND FAMILY. NICE OPEN SPACIOUS DETACHED GARAGE. THIS BEAUTIFUL HOME YOU GOT TO SEE. VERY WELL PRICES FOR THE AREA! MOVE-IN READY! BUYERS TO DO THEIR DUE DELIGENCE TO SATISFY THEMSELVES AS FAR AS CONDITION ,NEIGBORHOOD, PERMITS TO PROPERTY. SELLER WILL NOT WARRANT ANY INFORMATIONS AS TO THESE CONDITIONS. DEEMED RELIABLE BUT NOT VERIFIED.

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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: Pelanconi

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k865k

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

Neighborhood: Pelanconi

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17483874

* 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
Eleanor J. Toll Middle School Middle Regular 1,156 44 7
Herbert Hoover Senior High School High Regular 1,719 70 7

Eleanor J. Toll Middle School

  • Education Level: Middle
  • # of students: 1,156
  • # of teachers: 44
7
GreatSchools Rating

Herbert Hoover Senior High School

  • Education Level: High
  • # of students: 1,719
  • # of teachers: 70
7
GreatSchools Rating
 

$764,910$934,890$849,900

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,952
Property Tax -$817
Property Insurance -$63
Property Management Fees -$159
CASH FLOW
-$741

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.

$849,900

PROJECTED PRICE

$3,250

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 11.8%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$230,974

INVESTMENT

$230,974

Down Payment
$212,475
Rehab Estimate
$5,750
Closing Costs
$12,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,475
Loan Amount $637,425
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$10,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $3,571

    COMP ESTIMATED VALUE
  • $2.41

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,2503$3,3004$3,4005$4,000
$4,000
RENT COMPS ANALYSIS
  • 840 Grant Avenue Avenue Glendale, CA 2
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1939
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.20
    •  
  • 720 Patterson Avenue Glendale, CA 1
    • 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 1925
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.46
    •  
  • 529 Spencer Street Glendale, CA 3
    • 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1924
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.25
    •  
  • 1130 Graynold Avenue Glendale, CA 4
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1939
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.46
    •  
  • 724 South Street Glendale, CA 5
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1931
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.48
    •  
PROPERTY LISTING DETAILS
Tess Marquez
C-21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21146441
Last Updated: 07/12/2021
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