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1010 Arden Drive Encinitas, CA 92024

4 Beds 3 Baths 2,374 sqft Built 1951

$1,750,000

List Price

$5,710

$5.5K - $6K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $737.15
  • 4 Days on Market
  • MLS # : 210002365
  • Updated Date : 01/29/2021 at 16:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,374 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

ENCINITAS HIGHLANDS-2 Remodeled Detached Permitted Homes on one lot. Each home has laundry, yard space, separate electrical meters, and forced air heating. Front home is 2BR/1BA, approx 1,000 SF & back home is 2BR/2BA plus office & workspace area. Currently on month-month rentals at $3,300 and $3,400/mo. Both homes are remodeled inside and in good condition. MLS photos are from previous staging. Water & gas meters are shared. This very popular neighborhood is close to beach, town, restaurants & more!

SEE MORE

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 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cardiff

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100kPrice in $240k1158k

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

Neighborhood: Cardiff

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $16274345

* 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
Oak Crest Middle School Middle Regular 852 36 8
La Costa Canyon High School High Regular 2,013 79 9

Oak Crest Middle School

  • Education Level: Middle
  • # of students: 852
  • # of teachers: 36
8
GreatSchools Rating

La Costa Canyon High School

  • Education Level: High
  • # of students: 2,013
  • # of teachers: 79
9
GreatSchools Rating
 

$1,575,000$1,925,000$1,750,000

PURCHASE PRICE

$5,139$6,281$5,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,710
EXPENSES Loan Payment -$6,078
Property Tax -$1,640
Property Insurance -$87
Property Management Fees -$129
CASH FLOW
-$2,224

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,750,000

PROJECTED PRICE

$5,710

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$469,500

INVESTMENT

$469,500

Down Payment
$437,500
Rehab Estimate
$5,750
Closing Costs
$26,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,078

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $437,500
Loan Amount $1,312,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$3,503

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
  • $6,529

    COMP ESTIMATED VALUE
  • $2.75

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,800
$5,800
RENT COMPS ANALYSIS
  • 1010 Arden Drive Encinitas, CA 1
    • 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 1951 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1008 Hurstdale Ave Cardiff By The Sea, CA 2
    • 4 beds 4 baths ∙ 2,112 Sqft ∙ Built 1964 4 beds 4 baths ∙ 2,112 Sqft ∙ Built 1964
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,800
    • $2.75
    •  
PROPERTY LISTING DETAILS
Linda Moore
1.760.310.0234
Coldwell Banker Realty
BESbswy