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1021 Cajon Greens Dr El Cajon, CA 92021

3 Beds 2 Baths 1,248 sqft Built 1982

$579,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $463.94
  • 5 Days on Market
  • MLS # : 210002230
  • Updated Date : 01/30/2021 at 16:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 2 full
Listing Agent

Realty Executives Dillon

Listing Agent's Description

Beautifully upgraded single story home located in a desirable neighborhood. Outdoor entertaining area w/ a covered patio and hard-lined fire pit. New landscaping, artificial turf, storage shed & RV PARKING! This home has it all -updated kitchen w/ granite countertops, stainless steel appliances, breakfast nook, and AC.Features include new luxury vinyl flooring, recessed lighting, shutters, fireplace, built-in sound system & SOLAR! Convenient location- close to schools, shopping & freeways.VA/FHA Approved!

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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: Bostonia

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Bostonia

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
Magnolia Elementary School Primary Regular 653 27 2
Greenfield Middle School Middle Regular 670 28 2
El Cajon Valley High School High Regular 1,720 80 4

Magnolia Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 27
2
GreatSchools Rating

Greenfield Middle School

  • Education Level: Middle
  • # of students: 670
  • # of teachers: 28
2
GreatSchools Rating

El Cajon Valley High School

  • Education Level: High
  • # of students: 1,720
  • # of teachers: 80
4
GreatSchools Rating
 

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

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$2,011
Property Tax -$585
Property Insurance -$59
Property Management Fees -$129
CASH FLOW
-$314

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$579,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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

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.

$2,011

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$22,387

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
  • $2,440

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1453$2,300
$2,300
RENT COMPS ANALYSIS
  • 1021 Cajon Greens Dr El Cajon, CA 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 309 Graves Court El Cajon, CA 2
    • 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1974
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $1.89
    •  
  • 1628 Summertime Dr El Cajon, CA 3
    • 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1974
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.02
    •  
PROPERTY LISTING DETAILS
Huda Diab Helton
1.619.850.3630
Realty Executives Dillon
BESbswy