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946 N Niagara Street Burbank, CA 91505

3 Beds 2 Baths 2,032 sqft Built 1941

$1,210,900

List Price

$4,220

$4K - $4.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $595.92
  • 5 Days on Market
  • MLS # : SR21007344
  • Updated Date : 01/13/2021 at 19:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,032 sqft
  • Baths : 2 full
Listing Agent

Johnhart Corp.

Listing Agent's Description

Gorgeous 3 bedroom, 2 bathroom, 2,000+ square foot pool home for sale in Burbank! Upon arrival it becomes immediately clear that this home is something special. From the arched windows and entryway to the stone tiled walkway, this home has great curb appeal. Entering the property we are greeted by high end engineered hardwood floors, and recessed lighting that flows throughout the formal living room, dinning room, and den. Heading into the kitchen we find stunning stone tile flooring, granite countertops, a granite island with cooktop and a stainless steel range hood. Custom cabinetry and a full suite of high-end stainless steel appliances round take this kitchen from standard to luxe! Passing into the den we find a vaulted ceiling with exposed beams, a fireplace, and double French doors leading out to the backyard. The guest bedrooms are large and one features custom cabinetry and a built-in Murphy bed, making it perfect for an office if so desired. The primary bedroom is huge and features a walk in closet and en suite bathrooms - with dual vanities and a full size bathtub and shower. The backyard is perfect for entertaining, featuring a gorgeous pool, jacuzzi, and a pergola! As if that wasn’t enough this home has a tankless water heater and paid-off solar! Located in Burbank and very near the Chandler Bike Path, this home has it all!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Magnolia Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Magnolia Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Theodore Roosevelt Elementary School Primary Regular 633 22 9
David Starr Jordan Middle School Middle Regular 1,080 41 6
John Burroughs High School High Regular 2,649 108 8

Theodore Roosevelt Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 22
9
GreatSchools Rating

David Starr Jordan Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 41
6
GreatSchools Rating

John Burroughs High School

  • Education Level: High
  • # of students: 2,649
  • # of teachers: 108
8
GreatSchools Rating
 

$1,089,810$1,331,990$1,210,900

PURCHASE PRICE

$3,798$4,642$4,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,220
EXPENSES Loan Payment -$4,206
Property Tax -$1,129
Property Insurance -$76
Property Management Fees -$207
CASH FLOW
-$1,398

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.

$1,210,900

PROJECTED PRICE

$4,220

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$326,639

INVESTMENT

$326,639

Down Payment
$302,725
Rehab Estimate
$5,750
Closing Costs
$18,164

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,206

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $302,725
Loan Amount $908,175
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,460

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,220

    LIST RENT
  • $2.08

    LIST RENT PER SQFT
  • $4,211

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6003$4,0004$4,2005$4,220
$4,220
RENT COMPS ANALYSIS
  • 946 N Niagara Street Burbank, CA 5
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1941 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $4,220
    • $2.08
    •  
  • 1438 N Pepper Street Burbank, CA 1
    • 3 beds 1 baths ∙ 1,794 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,794 Sqft ∙ Built 1953
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.01
    •  
  • 927 N Lima Street Burbank, CA 2
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1925 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1925
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.80
    •  
  • 1105 N Lima Street Burbank, CA 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1943
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.35
    •  
  • 805 N Brighton Street Burbank, CA 4
    • 3 beds 3 baths ∙ 1,969 Sqft ∙ Built 1940 3 beds 3 baths ∙ 1,969 Sqft ∙ Built 1940
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.13
    •  
PROPERTY LISTING DETAILS
John Maseredjian
Johnhart Corp.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21007344
Last Updated: 01/13/2021
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