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1032 Ramona Avenue Spring Valley, CA 91977

4 Beds 2 Baths 1,432 sqft Built 1979

$540,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $377.09
  • 4 Days on Market
  • MLS # : 200051523
  • Updated Date : 11/13/2020 at 03:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,432 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

VIEWS! VIEWS! VIEWS! Lovely 4 bdrm home perfectly situated on lower part of Ramona Ave, yet high enough to enjoy panoramic views of the city, stretching as far as Coronado Islands on a clear day! HUGE upgraded "eat-in" kitchen w/plenty of cabinetry, SS appliances, recessed lights & subway tile backsplash. Lv Rm opens to large view deck - perfect for al fresco dining while enjoying the GORGEOUS sunset & splendid evening city lights. This home has a LARGE backyard - RARE to have both views AND backyard.

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: 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
 

$486,000$594,000$540,000

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 -$1,992
Property Tax -$576
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
-$290

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.

$540,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.6%
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$25k

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$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$27,265

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
  • $2,513

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9003$3,000
$3,000
RENT COMPS ANALYSIS
  • 1032 Ramona Avenue Spring Valley, CA 1
    • 4 beds 2 baths ∙ 1,432 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,432 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10331 Moorpark St Spring Valley, CA 2
    • 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 1980
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.77
    •  
  • 10008 Ledgeside St Spring Valley, CA 3
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1976
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
PROPERTY LISTING DETAILS
Cathy Palme
1.619.200.7518
Berkshire Hathaway Homeservice
BESbswy