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11314 Village Ridge Rd San Diego, CA 92131

4 Beds 3 Baths 2,001 sqft Built 1997

INVESTimate

$956,000

List Price

$3,240

$2,990 - $3,490

Rent Est.

$1,013,169  ( +5.98%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $477.76
  • 8 Days on Market
  • MLS # : 200039995
  • Updated Date : 08/26/2020 at 03:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,001 sqft
  • Baths : 3 full
Listing Agent

Lighthaus Realty Inc.

Listing Agent's Description

Gorgeous Scripps Ranch Home FANTASTIC VIEWS! from the family room, kitchen, and master bedroom deck. VERY popular 4th BEDROOM DOWNSTAIRS that features double French doors, walk-in closet plus FULL BATH, Other features include oversized family room with bay windows and French doors leading into backyard, great for all gatherings, OPEN kitchen with Corian counters, maple cabinets, stainless steel appliances, walk-in pantry, plus breakfast area See Supplement

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: 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
 

$860,400$1,051,600$956,000

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,240
EXPENSES Loan Payment -$3,527
Property Tax -$1,057
Property Insurance -$78
HOA -$95
Property Management Fees -$129
CASH FLOW
-$1,645

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.

$956,000

PROJECTED PRICE

$3,240

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.98%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$259,090

INVESTMENT

$259,090

Down Payment
$239,000
Rehab Estimate
$5,750
Closing Costs
$14,340

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $239,000
Loan Amount $717,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,240

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $3,255

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2403$3,2954$3,400
$3,400
RENT COMPS ANALYSIS
  • 11314 Village Ridge Rd San Diego, 2
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $3,240
    • $1.62
    •  
  • 11694 Springside Road San Diego, 1
    • 4 beds 3 baths ∙ 1,982 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,982 Sqft ∙ Built 1992
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.61
    •  
  • 11397 Legacy Canyon Pl San Diego, 3
    • 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 1995
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.64
    •  
  • 11520 Creekstone Lane San Diego, 4
    • 4 beds 3 baths ∙ 2,092 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,092 Sqft ∙ Built 2002
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.63
    •  
PROPERTY LISTING DETAILS
Walter Chiles
1.619.249.9709
Lighthaus Realty Inc.
BESbswy