Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10665 Canyon Lake Dr San Diego, CA 92131

5 Beds 3 Baths 2,802 sqft Built 1985

$1,199,000

List Price

$4,120

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $427.91
  • 5 Days on Market
  • MLS # : 200051403
  • Updated Date : 11/13/2020 at 21:46
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,802 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max United

Listing Agent's Description

Gorgeous meticulously updated home features downstairs master suite and 4 more generous bedrooms up. Entertainers delight. Enjoy a glass of wine on the front patio or host a crowd in the backyard with pool, spa, firepit, Weber BBQ and serene canyon view. Kitchen features white cabinets, stainless appliances -stove is new- and granite counters. Family room boasts a full wall of built-ins. 2 baths remodeled, luxury vinyl plank flooring, plantation shutters, 5 doors to Hoyt Park. See supplement for 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
 

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,708$4,532$4,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,120
EXPENSES Loan Payment -$4,424
Property Tax -$1,173
Property Insurance -$98
Property Management Fees -$129
CASH FLOW
-$1,703

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.

$1,199,000

PROJECTED PRICE

$4,120

PROJECTED RENT

0.34%

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$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$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,424

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,775

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,120

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $4,465

    COMP ESTIMATED VALUE
  • $1.59

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,1203$4,5004$4,695
$4,695
RENT COMPS ANALYSIS
  • 10665 Canyon Lake Dr San Diego, CA 2
    • 5 beds 3 baths ∙ 2,802 Sqft ∙ Built 1985 5 beds 3 baths ∙ 2,802 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $4,120
    • $1.47
    •  
  • 11448 Larmier Circle San Diego, CA 1
    • 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 1990
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.48
    •  
  • 11470 Cortina Pl San Diego, CA 3
    • 4 beds 3 baths ∙ 2,533 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,533 Sqft ∙ Built 2003
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.78
    •  
  • 11430 Winding Ridge Dr San Diego, CA 4
    • 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 1999
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,695
    • $1.52
    •  
PROPERTY LISTING DETAILS
Sharon Miller
1.619.990.1645
Re/max United
BESbswy