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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $543.93
- 4 Days on Market
- MLS # : 210003029
- Updated Date : 02/04/2021 at 23:40
CONSTRUCTION
- Beds : 4
- Floor Size : 1,764 sqft
- Baths : 2 full , 1 half
Listing Agent
Lepe Tendwell Properties
Listing Agent's Description
This gorgeous home features 4 bedrooms, 2.5 bathrooms and is located in the highly sought out neighborhood of Scripps Ranch. The white kitchen features quartz countertops, full wall backsplash, stainless steel appliances with a view of the tropical inspired back yard. The beautifully landscaped back yard includes a waterfall pool and spa surrounded by palm trees. Enjoy tranquil mountain views from the bedroom windows. This upgraded home is also within walking distance from coffee shops, stores, and parks.
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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: Miramar Ranch North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Miramar Ranch North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,110 |
| EXPENSES | Loan Payment | -$3,333 |
| Property Tax | -$939 | |
| Property Insurance | -$72 | |
| HOA | -$42 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$1,404
|
||
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.
$959,500
PROJECTED PRICE
$3,110
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.41% |
| Appreciation Year (1-5) | 6.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.56% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$260,018
LOAN DETAILS
$3,333
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $239,875 |
| Loan Amount | $719,625 |
0.25
YEARS SAVED
$300
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$3,325
COMP ESTIMATED VALUE -
$1.89
COMP AVG. RENT PER SQFT
Comps Range
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- $2,995
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10948 Ivy Hill Dr ##6 San Diego, CA 3
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- $3,000
- $1.91
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10872 Hasbrook Rd San Diego, CA 4
- 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1996
LEASED 10/30/20- Rent
- Rent Per SQFT
- $3,150
- $1.91
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11106 Ivy Hill Dr San Diego, CA 5
- 4 beds 3 baths ∙ 1,734 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,734 Sqft ∙ Built 1998
LEASED 06/24/20- Rent
- Rent Per SQFT
- $3,400
- $1.96
PROPERTY LISTING DETAILS
1.619.389.6750
Lepe Tendwell Properties
