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864 W Kenneth Road Glendale, CA 91202

3 Beds 3 Baths 2,113 sqft Built 1941

$1,300,000

List Price

$4,400

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $615.24
  • 6 Days on Market
  • MLS # : 320004638
  • Updated Date : 02/13/2021 at 07:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,113 sqft
  • Baths : 3 full
Listing Agent

Keller Williams R.e. Services

Listing Agent's Description

Fall in love with this charming 1941 English home that was built by Gregg's Artistic Homes. It was the model home called The Stratford House. This home is situated on prestigious Kenneth Road in desirable Northwest Glendale. It offers beautiful curb appeal with a setting far back from the street on a large corner lot. This 3 bedroom, 3 bath includes a spacious living room with coved ceilings, a fireplace, gleaming hardwood floors, formal dining room, den with fireplace with a sliding door that opens up to the well maintained backyard, kitchen with a bay window and a cozy breakfast nook, Central A/C & Heat, copper plumbing, new water heater, plantation shutters, recessed lighting, basement, laundry area, and large attic above the 2-car garage. Close to the Kenneth Village where you can enjoy shopping, restaurants, coffee and much more. Brand Park is located nearby, which includes a library, hiking trails, picnic areas, Japanese Tea House and Friendship Garden.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Glenwood

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1022k

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

Neighborhood: Glenwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17843979

* 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
 

$1,170,000$1,430,000$1,300,000

PURCHASE PRICE

$3,960$4,840$4,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,400
EXPENSES Loan Payment -$4,515
Property Tax -$1,250
Property Insurance -$78
Property Management Fees -$216
CASH FLOW
-$1,659

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.

$1,300,000

PROJECTED PRICE

$4,400

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 9.2%
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$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$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$3.5M$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$350,250

INVESTMENT

$350,250

Down Payment
$325,000
Rehab Estimate
$5,750
Closing Costs
$19,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,515

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $325,000
Loan Amount $975,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,466

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,400

    LIST RENT
  • $2.08

    LIST RENT PER SQFT
  • $4,664

    COMP ESTIMATED VALUE
  • $2.21

    COMP AVG. RENT PER SQFT
Comps Range
$4,100
1$4,1002$4,2953$4,4004$4,5005$4,850
$4,850
RENT COMPS ANALYSIS
  • 864 W Kenneth Road Glendale, CA 3
    • 3 beds 3 baths ∙ 2,113 Sqft ∙ Built 1941 3 beds 3 baths ∙ 2,113 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.08
    •  
  • 1428 Graynold Avenue Glendale, CA 1
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1931
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.28
    •  
  • 1254 Idlewood Road Glendale, CA 2
    • 3 beds 3 baths ∙ 2,033 Sqft ∙ Built 1938 3 beds 3 baths ∙ 2,033 Sqft ∙ Built 1938
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,295
    • $2.11
    •  
  • 1256 Irving Avenue Glendale, CA 4
    • 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1957 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1957
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.20
    •  
  • 1407 5th Street Glendale, CA 5
    • 3 beds 3 baths ∙ 2,162 Sqft ∙ Built 1928 3 beds 3 baths ∙ 2,162 Sqft ∙ Built 1928
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,850
    • $2.24
    •  
PROPERTY LISTING DETAILS
Kimberly Ann Meyer
Keller Williams R.e. Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320004638
Last Updated: 02/13/2021
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