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10232 Timberlane Way Santee, CA 92071

3 Beds 2 Baths 1,032 sqft Built 1971

$580,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $562.02
  • 3 Days on Market
  • MLS # : 210001963
  • Updated Date : 01/23/2021 at 20:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,032 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Great home in desirable neighborhood of Santee. Nicely updated kitchen with corian counter tops and oak cabinets. Updated bathrooms including flooring. Cozy travertine fireplace with glass doors. Dual pain windows throughout. Newer HVAC. Restucco in 2003. Large fenced backyard and fenced front yard. Large concrete back patio. RV parking. Close to schools, shopping and parks.

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
 

$522,000$638,000$580,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$2,015
Property Tax -$592
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$589

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.

$580,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.38%

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$159,450

INVESTMENT

$159,450

Down Payment
$145,000
Rehab Estimate
$5,750
Closing Costs
$8,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,015

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $145,000
Loan Amount $435,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,285

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
  • 10232 Timberlane Way Santee, CA 1
    • 3 beds 2 baths ∙ 1,032 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,032 Sqft ∙ Built 1971
    • 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
Tina Wright
1.760.703.6318
Keller Williams Realty
BESbswy