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920 Verdugo Circle Drive Glendale, CA 91206

3 Beds 2 Baths 1,380 sqft Built 1941

$879,000

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $636.96
  • 5 Days on Market
  • MLS # : 21691860
  • Updated Date : 02/12/2021 at 21:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,380 sqft
  • Baths : 1 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Occasionally a home comes to the market on a street you've never heard of, in a location you hadn't considered. These are often the gems that get scooped up and prized by savvy buyers. That street is Verdugo Circle: a tree-lined horseshoe-shaped street north of Glenoaks dotted with lovingly maintained homes. This home is a 1941 traditional with large double-hung original windows and wood floors throughout. Featuring a proper entryway into the bright living room with a fireplace, the home is a wonderful example of the fine craftsmanship of 1940s homes. The formal dining room is detailed with wainscoting and the kitchen, with original tiles, has a breakfast area overlooking the backyard. The ideal floorplan features three bedrooms and an original den that opens up to the outdoors. The flagstone patio leads to the sizable backyard with plenty of room for a pool. To the rear of the property is the detached garage with side door access, making it the perfect beginnings of an ADU. Updated with central air and heating and a beautiful newer bathroom, this home has been well taken care of for 80 years.

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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: Woodbury

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k911k

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

Neighborhood: Woodbury

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17843874

* 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
Richardson D. White Elementary School Primary Regular 935 34 8
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6

Richardson D. White Elementary School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 34
8
GreatSchools Rating

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students: 1,183
  • # of teachers: 46
8
GreatSchools Rating

Glendale Senior High School

  • Education Level: High
  • # of students: 2,582
  • # of teachers: 101
6
GreatSchools Rating
 

$791,100$966,900$879,000

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$3,053
Property Tax -$845
Property Insurance -$60
Property Management Fees -$155
CASH FLOW
-$944

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.

$879,000

PROJECTED PRICE

$3,170

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.4%
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-$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$238,685

INVESTMENT

$238,685

Down Payment
$219,750
Rehab Estimate
$5,750
Closing Costs
$13,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,053

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $219,750
Loan Amount $659,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$4,137

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,170

    LIST RENT
  • $2.3

    LIST RENT PER SQFT
  • $3,171

    COMP ESTIMATED VALUE
  • $2.3

    COMP AVG. RENT PER SQFT
Comps Range
$3,170
1$3,1702$3,2003$3,3204$3,5005$3,800
$3,800
RENT COMPS ANALYSIS
  • 920 Verdugo Circle Drive Glendale, CA 1
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $2.30
    •  
  • 1115 Stanley Avenue Glendale, CA 2
    • 3 beds 3 baths ∙ 1,351 Sqft ∙ Built 1922 3 beds 3 baths ∙ 1,351 Sqft ∙ Built 1922
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.37
    •  
  • 1143 N Jackson Street Glendale, CA 3
    • 3 beds 0 baths ∙ 1,515 Sqft ∙ Built 1927 3 beds 0 baths ∙ 1,515 Sqft ∙ Built 1927
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,320
    • $2.19
    •  
  • 733 N Glendale Avenue Glendale, CA 4
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1931
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.29
    •  
  • 520 N Howard Street Glendale, CA 5
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1936 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1936
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.34
    •  
PROPERTY LISTING DETAILS
David Robles
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21691860
Last Updated: 02/12/2021
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