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10026 Woodpark Dr Santee, CA 92071

3 Beds 2 Baths 1,032 sqft Built 1973

$589,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $570.74
  • 2 Days on Market
  • MLS # : 200053869
  • Updated Date : 12/12/2020 at 15:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,032 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautifully updated and move-in ready home situated in the desired Woodglen neighborhood of Santee. This 3 bedroom 2 bath home features great indoor/outdoor living with new turf plus additional boat/rv parking. Updated with new paint, flooring, low maintenance landscape, new kitchen cabinets, backsplash and bathrooms. Enjoy this quiet location all within close proximity to parks, great schools and shopping! Don't miss out!

SEE MORE

MARKET HIGHLIGHTS

  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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 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)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.
  • 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: Santee

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $205k594k

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

Neighborhood: Santee

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14702885

* 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
Rio Seco Elementary School Primary Regular 980 38 8
Rio Seco Elementary School Middle Regular 980 38 8
Santana High School High Regular 1,509 58 8

Rio Seco Elementary School

  • Education Level: Primary
  • # of students: 980
  • # of teachers: 38
8
GreatSchools Rating

Rio Seco Elementary School

  • Education Level: Middle
  • # of students: 980
  • # of teachers: 38
8
GreatSchools Rating

Santana High School

  • Education Level: High
  • # of students: 1,509
  • # of teachers: 58
8
GreatSchools Rating
 

$530,100$647,900$589,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$2,173
Property Tax -$601
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$617

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.

$589,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$8,894

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,224

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,399
$2,399
RENT COMPS ANALYSIS
  • 10026 Woodpark Dr Santee, CA 1
    • 3 beds 2 baths ∙ 1,032 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,032 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9539 Cottonwood Ave #f Santee, CA 2
    • 3 beds 2 baths ∙ 1,116 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,116 Sqft ∙ Built 1974
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.97
    •  
  • 10121 Peaceful Ct. Santee, CA 3
    • 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1974
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $2.34
    •  
PROPERTY LISTING DETAILS
Nick Taylor
1.619.838.4049
Coldwell Banker Realty
BESbswy