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1066 S Johnson Ave El Cajon, CA 92020

3 Beds 2 Baths 1,396 sqft Built 1957

INVESTimate

$595,000

List Price

$2,580

$2,330 - $2,830

Rent Est.

$636,829  ( +7.03%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1957
  • Price/Sqft : $426.22
  • 2 Days on Market
  • MLS # : 200041096
  • Updated Date : 08/26/2020 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,396 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautifully remodeled single story home on a corner lot with an amazing backyard & Solar! Big open kitchen with marble counter tops, SS appliances, custom cabinetry, & glass tile in kitchen & bathrooms. Light-filled open living concept with a fireplace in the living room & a separate formal dining room. Retreat to the backyard & enjoy your private pool, plenty of space to entertain, turf, a wood burning fire pit, & raised planter beds. Close to schools, parks, a dog park, & quick access to Hwy 8.

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: El Cajon

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $170k594k

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

Neighborhood: El Cajon

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13462885

* 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
Chase Avenue Elementary School Primary Regular 755 27 2
Emerald Stem Magnet Middle School Middle Magnet 537 23 1
Grossmont High School High Regular 2,394 92 7

Chase Avenue Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 27
2
GreatSchools Rating

Emerald Stem Magnet Middle School

  • Education Level: Middle
  • # of students: 537
  • # of teachers: 23
1
GreatSchools Rating

Grossmont High School

  • Education Level: High
  • # of students: 2,394
  • # of teachers: 92
7
GreatSchools Rating
 

$535,500$654,500$595,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

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$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,195
Property Tax -$604
Property Insurance -$62
Property Management Fees -$129
CASH FLOW
-$411

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.

$595,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.03%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$22,300

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
  • $2,685

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4953$3,0004$3,000
$3,000
RENT COMPS ANALYSIS
  • 1066 S Johnson Ave El Cajon, 1
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6350 Severin Dr. La Mesa, 2
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1955
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.90
    •  
  • 727 Live Oak El Cajon, 3
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1952
    LEASED 03/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.13
    •  
  • 1159 Benjamin Pl El Cajon, 4
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1967
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
PROPERTY LISTING DETAILS
Jeffrey Nix
1.619.962.2471
Redfin Corporation
BESbswy