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917 Cypress Avenue Pasadena, CA 91103

3 Beds 2 Baths 1,652 sqft Built 2016

$988,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $598.06
  • 1 Days on Market
  • MLS # : P1-5701
  • Updated Date : 07/13/2021 at 09:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,652 sqft
  • Baths : 2 full
Listing Agent

Century 21 Masters

Listing Agent's Description

Conveniently located within 1 mile of the Rose Bowl, and close to NASA JPL, CalTech and Old Town Pasadena is this 3 bedroom 2 bathroom Modern Craftsman Home built in 2016. Clean, fresh, and vibrant - you will be just the 2nd owner of this practically new home! It tastefully blends all the best amenities you'd want in a home with a seamless flow. Inside you'll find modern features, like recessed lighting, neutral colors, and engineered hardwoods throughout the wide open floor plan with sight-lines from the entrance to the kitchen. The remarkable family room offers a lovely, relaxing space with a built in fireplace and French Doors leading out to the classically landscaped grassy yard. The modern, bright kitchen is a great place for entertaining as it has a beautiful, large, center island with a comfortable seating space, beautiful quartz countertops, and stainless steel appliances. You'll also find crown molding, high ceilings, extra tall doors, indoor laundry with porcelain tile floors, private primary bedroom, a water softener system that is owned, and lots of natural lighting. The yard features Rachio Smart Sprinkler Automatic System that is WiFi enabled and will even automatically delay sprinklers if it is raining outside as part of their water saving technology! This newer home comes with a 24/7 security monitoring system with Specialized Security - easily transferable to new owners, plus it has an automatic driveway gate and a detached 2 car garage.

SEE MORE

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: Prospect Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Prospect Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844520

* 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
Washington Middle School Middle Regular 513 28 1
John Muir High School High Regular 919 55 3
Washington Middle School Middle Unknown NA

Washington Middle School

  • Education Level: Middle
  • # of students: 513
  • # of teachers: 28
1
GreatSchools Rating

John Muir High School

  • Education Level: High
  • # of students: 919
  • # of teachers: 55
3
GreatSchools Rating

Washington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$889,200$1,086,800$988,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$3,432
Property Tax -$960
Property Insurance -$67
Property Management Fees -$167
CASH FLOW
-$1,225

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.

$988,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$267,570

INVESTMENT

$267,570

Down Payment
$247,000
Rehab Estimate
$5,750
Closing Costs
$14,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,432

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $247,000
Loan Amount $741,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,382

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $3,403

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$3,4003$3,5004$3,5005$4,250
$4,250
RENT COMPS ANALYSIS
  • 917 Cypress Avenue Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.06
    •  
  • 859 N Fair Oaks Avenue Pasadena, CA 1
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2009
    property image
    LEASED 04/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.84
    •  
  • 128 N Oak Knoll Avenue Pasadena, CA 3
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2004
    property image
    LEASED 05/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.27
    •  
  • 286 N Madison Avenue Pasadena, CA 4
    • 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2003
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.96
    •  
  • 742 Locust Street Pasadena, CA 5
    • 3 beds 3 baths ∙ 1,955 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,955 Sqft ∙ Built 2002
    property image
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.17
    •  
PROPERTY LISTING DETAILS
Meg Middleman
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-5701
Last Updated: 07/13/2021
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