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1026 Portola Ave Spring Valley, CA 91977

4 Beds 4 Baths 1,577 sqft Built 1980

INVESTimate

$650,000

List Price

$2,440

$2,196 - $2,684

Rent Est.

$699,270  ( +7.58%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $412.18
  • 7 Days on Market
  • MLS # : 200040407
  • Updated Date : 08/25/2020 at 17:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,577 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Sitting on over 5000 SF. on Dictionary Hill is this Charming 2 story fully renovated, with a single unit down stairs. Total 4 bed/ 3.5 bath with optional bed/ office in 2nd unit. This main home with 3 bedroom and 2.5 bath has been newly updated with a new kitchen, new counter tops, new appliances, new bathrooms, new flooring, new carpet, freshly painted inside and out. Please see supplement for additional remarks

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: La Presa

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: La Presa

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
Sweetwater Springs Elementary School Primary Regular 572 19 6
Sweetwater Springs Elementary School Middle Regular 572 19 6
Monte Vista High School High Regular 1,657 76 7

Sweetwater Springs Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 19
6
GreatSchools Rating

Sweetwater Springs Elementary School

  • Education Level: Middle
  • # of students: 572
  • # of teachers: 19
6
GreatSchools Rating

Monte Vista High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 76
7
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,398
Property Tax -$693
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$847

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.

$650,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.58%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $2,534

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,440
1$2,4402$2,6503$2,9004$2,900
$2,900
RENT COMPS ANALYSIS
  • 1026 Portola Ave Spring Valley, 1
    • 4 beds 4 baths ∙ 1,577 Sqft ∙ Built 1980 4 beds 4 baths ∙ 1,577 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.55
    •  
  • 1623 Cuyamaca Avenue Spring Valley, 2
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1988
    property image
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.39
    •  
  • 9891 Avenida Ricardo Spring Valley, 3
    • 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1993
    property image
    LEASED 03/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.66
    •  
  • 10331 Moorpark St Spring Valley, 4
    • 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 1980
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.77
    •  
PROPERTY LISTING DETAILS
Peter Lustria
1.858.204.1595
Keller Williams Realty
BESbswy