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10307 Red Cedar Pl San Diego, CA 92131

3 Beds 2 Baths 1,251 sqft Built 1973

$899,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $718.63
  • 5 Days on Market
  • MLS # : 210006874
  • Updated Date : 03/17/2021 at 21:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,251 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Nested on a corner lot in a cul-de-sac, this single story Scripps Ranch charmer is move-in ready! This home has been completely renovated the past few years inside & out! Beautiful kitchen upgrades include a deep farmer’s sink, stainless steel appliances, brand new countertops & modern tile backsplash. The bathrooms have also been luxuriously redone with beautiful stone backsplash & dual sinks in the master suite. You’ll fall in love with the functional layout filled with natural lighting peaking through your dual pane windows & plantation shutters. Access your beautiful backyard from both the dining area & master bedroom. Outside you'll find your own personal forest oasis to relax and unwind surrounded by trees & lush landscaping - perfect for entertaining. Come see this captivating home before it’s gone! Only moments away to parks, trails, shopping, Miramar Lake, Scripps Ranch Library, top rated schools, restaurants and more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Scripps Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $233k858k

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

Neighborhood: Scripps Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16273600

* 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
Miramar Ranch Elementary School Primary Regular 759 27 10
Marshall Middle School Middle Regular 1,611 59 9
Scripps Ranch High School High Regular 2,232 83 10

Miramar Ranch Elementary School

  • Education Level: Primary
  • # of students: 759
  • # of teachers: 27
10
GreatSchools Rating

Marshall Middle School

  • Education Level: Middle
  • # of students: 1,611
  • # of teachers: 59
9
GreatSchools Rating

Scripps Ranch High School

  • Education Level: High
  • # of students: 2,232
  • # of teachers: 83
10
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$3,123
Property Tax -$879
Property Insurance -$59
Property Management Fees -$129
CASH FLOW
-$1,560

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.

$899,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.4%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$80

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • $2,408

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,6303$2,750
$2,750
RENT COMPS ANALYSIS
  • 10307 Red Cedar Pl San Diego, CA 2
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $2.10
    •  
  • 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
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.82
    •  
  • 10020 Scripps Vista Way #65 San Diego, CA 3
    • 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1993
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.03
    •  
PROPERTY LISTING DETAILS
Emma Lefkowitz
1.858.880.5989
Compass
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210006874
Last Updated: 03/17/2021
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