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10237 Fallglen Ct San Diego, CA 92126

3 Beds 2 Baths 1,282 sqft Built 1974

$699,900

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $545.94
  • 14 Days on Market
  • MLS # : 200052456
  • Updated Date : 12/04/2020 at 21:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,282 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

This is the home you have been waiting for! Situated in a quiet cul de sac this pool home has a private, gated front yard with new landscaping and a large backyard with a enclosed pool. Surrounding the home is 12 fruit trees, sit and relax in one of the many serene sitting areas and enjoy a glass of lemonade made from your own tree.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $225k746k

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

Neighborhood: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14823384

* 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
Mason Elementary School Primary Regular 824 32 7
Wangenheim Middle School Middle Regular 912 39 7
Mira Mesa High School High Regular 2,453 106 9

Mason Elementary School

  • Education Level: Primary
  • # of students: 824
  • # of teachers: 32
7
GreatSchools Rating

Wangenheim Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 39
7
GreatSchools Rating

Mira Mesa High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 106
9
GreatSchools Rating
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,582
Property Tax -$685
Property Insurance -$59
Property Management Fees -$129
CASH FLOW
-$845

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.

$699,900

PROJECTED PRICE

$2,610

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.4%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $2,429

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,6103$2,7504$2,7505$2,825
$2,825
RENT COMPS ANALYSIS
  • 10237 Fallglen Ct San Diego, CA 2
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $2.04
    •  
  • 9587 Caminito Tirada San Diego, CA 1
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1975
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.82
    •  
  • 10263 Baroness Avenue San Diego, CA 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.90
    •  
  • 10880 Buckhurst Ave San Diego, CA 4
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1974
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.85
    •  
  • 10284 Caminito Rio Branco San Diego, CA 5
    • 3 beds 3 baths ∙ 1,407 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,407 Sqft ∙ Built 1977
    property image
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,825
    • $2.01
    •  
PROPERTY LISTING DETAILS
Ixie Weber
1.310.801.2366
Redfin Corporation
BESbswy