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942 Amherst Drive Burbank, CA 91504

3 Beds 3 Baths 2,215 sqft Built 1951

$1,377,000

List Price

$4,230

$4K - $4.5K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $621.67
  • 7 Days on Market
  • MLS # : SR21020931
  • Updated Date : 02/05/2021 at 16:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,215 sqft
  • Baths : 3 full
Listing Agent

Johnhart Real Estate

Listing Agent's Description

Stop mining. You have found gold. If your search has brought you here, you already know how special this neighborhood is. Tastefully maintained and lovingly cared for this gem has been a sanctuary that anyone would pine to retreat to. The home actually hugs you when you enter. Gaze at a warm fire inside a magnificent white onyx fireplace. Large bedrooms can accommodate any taste and style, Gourmet fully updated kitchen, extra-large family room that opens up to the outdoors. The true magic happens as you make your way to the outdoor oasis. Complete with a covered kitchen under cafe lights you’ll spend hours preparing your favorite meals. Reward yourself by taking a dip into a crystal clear saltwater pool. Rest easy knowing that there is a newer roof and furnace installed. Professionally crafted closets. Your very own plumeria tree thriving in the back yard. The garage is finished and can be used as an exercise room or office. There is a separate music studio and a large attic space in the garage as well. The spring brings a spectacular profusion of color with the blooming of the bougainvillea in the back. A true gem to behold!

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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: 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
 

$1,239,300$1,514,700$1,377,000

PURCHASE PRICE

$3,807$4,653$4,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,230
EXPENSES Loan Payment -$4,783
Property Tax -$1,284
Property Insurance -$81
Property Management Fees -$207
CASH FLOW
-$2,125

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.

$1,377,000

PROJECTED PRICE

$4,230

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$4.5M

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$370,655

INVESTMENT

$370,655

Down Payment
$344,250
Rehab Estimate
$5,750
Closing Costs
$20,655

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$4,783

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $344,250
Loan Amount $1,032,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,230

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $4,242

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,750
1$3,7502$4,2303$4,2504$4,8005$4,800
$4,800
RENT COMPS ANALYSIS
  • 942 Amherst Drive Burbank, CA 2
    • 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 1951 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $4,230
    • $1.91
    •  
  • 615 E Walnut Avenue Burbank, CA 1
    • 3 beds 2 baths ∙ 2,245 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,245 Sqft ∙ Built 1951
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.67
    •  
  • 949 University Avenue Burbank, CA 3
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1951 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1951
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $1.91
    •  
  • 2504 N Keystone Street Burbank, CA 4
    • 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 1947 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 1947
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.00
    •  
  • 800 Stanford Road Burbank, CA 5
    • 3 beds 3 baths ∙ 2,310 Sqft ∙ Built 1953 3 beds 3 baths ∙ 2,310 Sqft ∙ Built 1953
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.08
    •  
PROPERTY LISTING DETAILS
George Andrianopoulos
Johnhart Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21020931
Last Updated: 02/05/2021
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