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11065 Watkins Ct San Diego, CA 92131

5 Beds 3 Baths 2,715 sqft Built 1996

$1,249,000

List Price

$4,110

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $460.04
  • 24 Days on Market
  • MLS # : 200050765
  • Updated Date : 11/12/2020 at 23:02
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,715 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Stunning 2-story home on a quiet cul-de-sac in the Prominence community of Scripps Ranch! ***Owned solar! Produces more energy than needed! ***Entry level bedroom & full bath. ***Whole house water filtration system. ***Bright and open living area with soaring ceilings and great natural light. ***The heart of the home is the amazing kitchen and family room! ***Large center island, granite countertops, stainless steel appliances, walk-in pantry, and big windows overlooking the backyard. (See Supplement)

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: Miramar Ranch North

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $233k845k

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

Neighborhood: Miramar Ranch North

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16273855

* 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
Dingeman Elementary School Primary Regular 832 28 10
Marshall Middle School Middle Regular 1,611 59 9
Scripps Ranch High School High Regular 2,232 83 10

Dingeman Elementary School

  • Education Level: Primary
  • # of students: 832
  • # of teachers: 28
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
 

$1,124,100$1,373,900$1,249,000

PURCHASE PRICE

$3,699$4,521$4,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,110
EXPENSES Loan Payment -$4,608
Property Tax -$1,222
Property Insurance -$95
HOA -$42
Property Management Fees -$129
CASH FLOW
-$1,987

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.

$1,249,000

PROJECTED PRICE

$4,110

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

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$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$336,735

INVESTMENT

$336,735

Down Payment
$312,250
Rehab Estimate
$5,750
Closing Costs
$18,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,608

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $312,250
Loan Amount $936,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,110

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $4,425

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,1103$4,500
$4,500
RENT COMPS ANALYSIS
  • 11065 Watkins Ct San Diego, CA 2
    • 5 beds 3 baths ∙ 2,715 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,715 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $4,110
    • $1.51
    •  
  • 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
    •  
PROPERTY LISTING DETAILS
Daniel Beer
1.858.755.1999
Exp Realty Of California Inc
BESbswy