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11417 Heartwood Ct San Diego, CA 92131

3 Beds 3 Baths 2,540 sqft Built 2000

$993,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $390.94
  • 4 Days on Market
  • MLS # : 200052656
  • Updated Date : 11/29/2020 at 03:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,540 sqft
  • Baths : 2 full , 1 half
Listing Agent

House In Sd Inc.

Listing Agent's Description

Welcome home to The Willows, one of the most sought after neighborhoods in all of Scripps Ranch. The home is located at quiet cul-de-sac, beautiful curb apeal, appealing east-west facing. The floorplan features a rare downstairs master suite & office. Light and bright interior, granite countertops, neutral tile flooring, fomal dining, family and living rooms, two spacious bedrooms upstairs with Jack & Jill bath. Master bedroom has wide sliding door to the backyard. Excellent San Diego Unified Schools.

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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: Scripps Highlands

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $233k881k

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

Neighborhood: Scripps Highlands

ZipNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16273780

* 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
Miramar Ranch Elementary School Primary Regular 759 27 10
Marshall Middle School Middle Regular 1,611 59 9
Scripps Ranch High School High Regular 2,232 83 10

Miramar Ranch Elementary School

  • Education Level: Primary
  • # of students: 759
  • # of teachers: 27
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
 

$893,700$1,092,300$993,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$3,664
Property Tax -$971
Property Insurance -$91
HOA -$42
Property Management Fees -$129
CASH FLOW
-$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.

$993,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 3.9%
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-$20k-$10k$0.0$10k$20k$30k

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$268,895

INVESTMENT

$268,895

Down Payment
$248,250
Rehab Estimate
$5,750
Closing Costs
$14,895

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $248,250
Loan Amount $744,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$15,140

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
  • $4,267

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5903$3,6504$4,1005$4,500
$4,500
RENT COMPS ANALYSIS
  • 11417 Heartwood Ct San Diego, CA 1
    • 3 beds 3 baths ∙ 2,540 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,540 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10187 Avenida Magnifica San Diego, CA 2
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1983
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $1.61
    •  
  • 11963 Cypress Valley Drive San Diego, CA 3
    • 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 2000
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.61
    •  
  • 11686 Wannacut San Diego, CA 4
    • 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 1999
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.72
    •  
  • 11470 Cortina Pl San Diego, CA 5
    • 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
Jennifer Zheng
1.858.344.8478
House In Sd Inc.
BESbswy