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10117 Star Magnolia Ln Santee, CA 92071

4 Beds 4 Baths 1,830 sqft Built 2010

$579,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $316.39
  • 3 Days on Market
  • MLS # : 200050960
  • Updated Date : 11/07/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,830 sqft
  • Baths : 3 full , 1 half
Listing Agent

Corcoran Global Living

Listing Agent's Description

Wonderful opportunity to own this well maintained, light & bright row home located in the desirable, centrally located, Riverwalk development. Outstanding floor plan features a wonderful main living space w/ vaulted ceilings, an upgraded kitchen, and bedrooms on each floor. Master suite is on the main floor - 2 bedrooms, computer nook & full bath upstairs - one large bedroom full bathroom, laundry room, and garage on the lower floor. Community pool/spa & short walk to YMCA and Sportsplex. Low HOA.

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: Riverwalk

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $205k594k

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

Neighborhood: Riverwalk

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14702974

* 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
 

$521,100$636,900$579,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,136
Property Tax -$567
Property Insurance -$73
HOA -$115
Property Management Fees -$129
CASH FLOW
-$341

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.

$579,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.4%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$26,888

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $2,885

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,680
1$2,6802$2,7503$2,9004$2,925
$2,925
RENT COMPS ANALYSIS
  • 10117 Star Magnolia Ln Santee, CA 1
    • 4 beds 4 baths ∙ 1,830 Sqft ∙ Built 2010 4 beds 4 baths ∙ 1,830 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.46
    •  
  • 9504 Paseo De Los Castillos Santee, CA 2
    • 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2006
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.57
    •  
  • 10147 Star Magnolia Santee, CA 3
    • 4 beds 4 baths ∙ 1,869 Sqft ∙ Built 2010 4 beds 4 baths ∙ 1,869 Sqft ∙ Built 2010
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.55
    •  
  • 10012 Merry Brooke Trail Santee, CA 4
    • 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 2007
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,925
    • $1.61
    •  
PROPERTY LISTING DETAILS
Scott Waid
1.858.945.4004
Corcoran Global Living
BESbswy