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113 Bearing Ln El Cajon, CA 92019

4 Beds 2 Baths 1,283 sqft Built 1974

$585,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $455.96
  • 4 Days on Market
  • MLS # : 200050880
  • Updated Date : 11/06/2020 at 06:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,283 sqft
  • Baths : 2 full
Listing Agent

Top Notch Realty, Inc.

Listing Agent's Description

This stunningly remodeled 4b/2b single-story home welcomes you. Completely renovated from the inside-out. Everything is new and tastefully done with no details spared. This home features open concept floorplan, spacious kitchen/dining combo, cozy living room with custom-made stone fireplace. It also offers granite countertops, high-end SS Samsung appliances, recessed lighting, central AC/heating system & walk-in shower. Amazing fenced-in large backyard for you to entertain and enjoy.

SEE MORE

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

Zip Code: 92019

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $222k594k

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

Zip Code: 92019

ZipNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $15143009

* 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
Madison Avenue Elementary School Primary Regular 488 20 4
Montgomery Middle School Middle Magnet 815 32 4
Granite Hills High School High Regular 2,478 97 6

Madison Avenue Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 20
4
GreatSchools Rating

Montgomery Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 32
4
GreatSchools Rating

Granite Hills High School

  • Education Level: High
  • # of students: 2,478
  • # of teachers: 97
6
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$2,158
Property Tax -$591
Property Insurance -$59
Property Management Fees -$129
CASH FLOW
-$378

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.

$585,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$24,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $2,699

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,3003$2,4004$2,560
$2,560
RENT COMPS ANALYSIS
  • 113 Bearing Ln El Cajon, CA 4
    • 4 beds 2 baths ∙ 1,283 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,283 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $2.00
    •  
  • 947 Greenfield Drive #unit G El Cajon, CA 1
    • 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1973
    property image
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.58
    •  
  • 805 N 3rd St #1 & 3 El Cajon, CA 2
    • 3 beds 1 baths ∙ 975 Sqft ∙ Built 1969 3 beds 1 baths ∙ 975 Sqft ∙ Built 1969
    property image
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.36
    •  
  • 1378 Ivory Ct El Cajon, CA 3
    • 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1958
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.37
    •  
PROPERTY LISTING DETAILS
Andrew Jia
1.508.726.0899
Top Notch Realty, Inc.
BESbswy