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11090 Sagittarius Rd Mira Mesa, CA 92126

3 Beds 2 Baths 1,755 sqft Built 1971

$749,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $426.78
  • 8 Days on Market
  • MLS # : 200052784
  • Updated Date : 12/05/2020 at 04:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,755 sqft
  • Baths : 2 full
Listing Agent

Murfey Company, Inc.

Listing Agent's Description

As soon as you walk in to this tastefully renovated and updated home in the heart of Mira Mesa you will love the open floor plan, vaulted ceilings, & large bedrooms. You'll never want to miss a moment in your new remodeled kitchen that boasts custom countertops, clean, modern cabinetry & stainless steel appliances. The light & bright dining area has access to the oversized backyard/patio through sliding glass. The neighborhood is warm & welcoming and the home is situated next to the community park & pool.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $225k746k

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

Neighborhood: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14823384

* 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
Ericson Elementary School Primary Regular 738 28 9
Wangenheim Middle School Middle Regular 912 39 7
Mira Mesa High School High Regular 2,453 106 9

Ericson Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 28
9
GreatSchools Rating

Wangenheim Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 39
7
GreatSchools Rating

Mira Mesa High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 106
9
GreatSchools Rating
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$2,763
Property Tax -$731
Property Insurance -$71
HOA -$21
Property Management Fees -$129
CASH FLOW
-$776

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.

$749,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,763

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$10,029

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
  • $3,207

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7503$2,7504$2,9005$3,100
$3,100
RENT COMPS ANALYSIS
  • 11090 Sagittarius Rd Mira Mesa, CA 1
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10263 Baroness Avenue San Diego, CA 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.90
    •  
  • 10880 Buckhurst Ave San Diego, CA 3
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1974
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.85
    •  
  • 10292 Covina Pl San Diego, CA 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1971
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.73
    •  
  • 12565 Rideabout Court San Diego, CA 5
    • 3 beds 3 baths ∙ 1,694 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,694 Sqft ∙ Built 1987
    property image
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.83
    •  
PROPERTY LISTING DETAILS
Caz Morawski
1.858.412.7419
Murfey Company, Inc.
BESbswy