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11055 Weatherwood Terrace San Diego, CA 92131

3 Beds 3 Baths 1,664 sqft Built 1991

$869,000

List Price

$3,090

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $522.24
  • 2 Days on Market
  • MLS # : 210001970
  • Updated Date : 01/24/2021 at 04:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,664 sqft
  • Baths : 2 full , 1 half
Listing Agent

Douglas Elliman Of California

Listing Agent's Description

Welcome to this wonderful cul-de-sac home located in the highly desirable Scripps Ranch community. Open bright floor-plan with vaulted ceilings, new paint throughout & luxury vinyl floors. Completely upgraded kitchen with quartz countertops, Samsung smart vent microwave, Bosch dishwasher and 'induction' cooktop. Other features include new sink with Hansgrohe pull out faucet, soft close doors & drawers. Low maintenance front & backyard equipped w/ artificial turf. Close to top ranked schools, parks & more!

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: 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
Jerabek Elementary School Primary Regular 647 24 10
Marshall Middle School Middle Regular 1,611 59 9
Scripps Ranch High School High Regular 2,232 83 10

Jerabek Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 24
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
 

$782,100$955,900$869,000

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$3,018
Property Tax -$850
Property Insurance -$69
Property Management Fees -$129
CASH FLOW
-$977

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.

$869,000

PROJECTED PRICE

$3,090

PROJECTED RENT

0.36%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$236,035

INVESTMENT

$236,035

Down Payment
$217,250
Rehab Estimate
$5,750
Closing Costs
$13,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,018

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $217,250
Loan Amount $651,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,948

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
  • $3,241

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6003$2,6504$2,8505$3,400
$3,400
RENT COMPS ANALYSIS
  • 11055 Weatherwood Terrace San Diego, CA 1
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 11891 Spruce Run Drive #c San Diego, CA 2
    • 3 beds 3 baths ∙ 1,335 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,335 Sqft ∙ Built 1998
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.95
    •  
  • 11878 Scripps Creek Dr. #c San Diego, CA 3
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1996
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.89
    •  
  • 12357 Caminito Sereno San Diego, CA 4
    • 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1994
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.04
    •  
  • 10928 Caminito Cerezo San Diego, CA 5
    • 4 beds 3 baths ∙ 1,784 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,784 Sqft ∙ Built 1996
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.91
    •  
PROPERTY LISTING DETAILS
Mia Parsons
1.802.291.0461
Douglas Elliman Of California
BESbswy