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PROPERTY INFO
FACTS
- Built In 1997
- Price/Sqft : $455.33
- 13 Days on Market
- MLS # : 200050015
- Updated Date : 11/06/2020 at 17:28
CONSTRUCTION
- Beds : 4
- Floor Size : 2,765 sqft
- Baths : 3 full
Listing Agent
Aare
Listing Agent's Description
Look no further! Panoramic views & sunsets from both levels of this beautiful canyon lot in Pacific Ridge Sorrento Valley! Spacious with Vaulted Ceilings… Remodeled Kitchen with Walk-In Pantry…Balcony off Master…Ample Closet Space with Built-Ins…Oversized Bonus Room Upstairs…1 Bedroom with full Bath Downstairs…3-Car Garage with Built-Ins…Large Laundry Room Downstairs… Low-Maintenance yard with synthetic turf, Stamped concrete, Plumerias & Hibiscus, Planter boxes …Newer AC/Furnace with Nest-see supplement
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Sorrento Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sorrento Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,480 |
| EXPENSES | Loan Payment | -$4,645 |
| Property Tax | -$1,189 | |
| Property Insurance | -$97 | |
| HOA | -$52 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$1,632
|
||
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.
$1,259,000
PROJECTED PRICE
$4,480
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.65% |
| Appreciation Year (1-5) | 6.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.45% |
| 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
$339,385
LOAN DETAILS
$4,645
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $314,750 |
| Loan Amount | $944,250 |
1
YEARS SAVED
$5,896
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
-
$4,507
COMP ESTIMATED VALUE -
$1.63
COMP AVG. RENT PER SQFT
Comps Range
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- $4,500
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- $4,500
- $1.67
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- 5 beds 3 baths ∙ 2,840 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,840 Sqft ∙ Built 2001
LEASED 05/31/20- Rent
- Rent Per SQFT
- $4,695
- $1.65
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5665 Willowmere Ln San Diego, CA 5
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LEASED 09/02/20- Rent
- Rent Per SQFT
- $5,000
- $1.64
PROPERTY LISTING DETAILS
1.619.846.0168
Aare
