Address: 501 East Palmer Ave Unit A4, Glendale, CA
Bedrooms: 3
Bathrooms: 2.5
Size: 1,199 sq. ft.
Glendale is an upper middle class suburb in Los Angeles County. It is centrally located, bordering Los Angeles to the south, Burbank to the west and Pasadena to the east. This unit looks like it may require some minor work/cleanup but nothing substantial to make it move in ready.
Bedrooms: 3
Bathrooms: 2.5
Size: 1,199 sq. ft.
Glendale is an upper middle class suburb in Los Angeles County. It is centrally located, bordering Los Angeles to the south, Burbank to the west and Pasadena to the east. This unit looks like it may require some minor work/cleanup but nothing substantial to make it move in ready.
Listing price: $216,000
Down payment (20%): $43,200
Expected monthly rental income (based on Zillow.com rent estimate): $1,850
Monthly mortgage (30 year fixed @ 3.875%): $813
Monthly maintenance and repair budget: $100
Monthly vacancy budget: $100
Monthly HOA dues: $225
Monthly property tax: $243
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Monthly profit: $369
Monthly profit: $369
Annual return on down payment investment: 10%
Note that the annual return on the down payment investment does not account for any gain in equity via monthly mortgage payments. Adding up the equity makes this an even more attractive purchase from a financial standpoint.
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