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1046 La Reina Drive San Marcos, CA 92078

3 Beds 2 Baths 2,041 sqft Built 1966

$975,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1966
  • Price/Sqft : $477.71
  • 6 Days on Market
  • MLS # : 200050142
  • Updated Date : 11/03/2020 at 00:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,041 sqft
  • Baths : 2 full
Listing Agent

Jerry Mendelsohn & Associates

Listing Agent's Description

Welcome to this freshly renovated golf course home, located in the family friendly, unique, & established Lake San Marcos community! Ideally located on one of the quietest streets in the neighborhood, this home sits on the 12th hole of St. Mark GC. Quartz countertops in the kitchen & baths, engineered wood flooring throughout, all new dual pane windows, ceiling fans throughout, & new exterior/interior paint are just a handful of the new features that await! Optional Lake/Lodge membership, SEE SUPP!!

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: Lake San Marcos

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $223k645k

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

Neighborhood: Lake San Marcos

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $15033094

* 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
Discovery Elementary School Primary Regular 982 37 8
San Elijo Middle School Middle Regular 1,850 61 9
San Marcos High School High Regular 2,776 101 9

Discovery Elementary School

  • Education Level: Primary
  • # of students: 982
  • # of teachers: 37
8
GreatSchools Rating

San Elijo Middle School

  • Education Level: Middle
  • # of students: 1,850
  • # of teachers: 61
9
GreatSchools Rating

San Marcos High School

  • Education Level: High
  • # of students: 2,776
  • # of teachers: 101
9
GreatSchools Rating
 

$877,500$1,072,500$975,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$3,597
Property Tax -$896
Property Insurance -$79
Property Management Fees -$129
CASH FLOW
-$1,431

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.

$975,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.8%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$264,125

INVESTMENT

$264,125

Down Payment
$243,750
Rehab Estimate
$5,750
Closing Costs
$14,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,597

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $243,750
Loan Amount $731,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,382

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 1046 La Reina Drive San Marcos, CA
    • 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 1966 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Jeff Mendelsohn
1.619.339.2166
Jerry Mendelsohn & Associates
BESbswy