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1193 Tres Lomas El Cajon, CA 92021

4 Beds 4 Baths 2,847 sqft Built 1980

$999,999

List Price

$3,520

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $351.25
  • 20 Days on Market
  • MLS # : 210002760
  • Updated Date : 02/19/2021 at 17:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,847 sqft
  • Baths : 3 full , 1 half
Listing Agent

San Diego Home Search Realty

Listing Agent's Description

Very quiet and private, no homes behind! Endless opportunities with this single story first time listed! In dead end street on over flat one acre, 3000SF + home with pool and spa,fruit trees,Circular driveway and oversize enormous 3 car garage. 2 Master bedrooms, 2 more well sized beds and 3.5 Bathrooms.Family room with fireplace overlooking the pool and spa, With patio off the family room. Granny flat attached with private entrance.Huge 3 car garage that can be ADU if desired.

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: 92021

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Zip Code: 92021

ZipNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
W. D. Hall Elementary School Primary Regular 482 20 2
Greenfield Middle School Middle Regular 670 28 2
Granite Hills High School High Regular 2,478 97 6

W. D. Hall Elementary School

  • Education Level: Primary
  • # of students: 482
  • # of teachers: 20
2
GreatSchools Rating

Greenfield Middle School

  • Education Level: Middle
  • # of students: 670
  • # of teachers: 28
2
GreatSchools Rating

Granite Hills High School

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

$899,999$1,099,999$999,999

PURCHASE PRICE

$3,168$3,872$3,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,520
EXPENSES Loan Payment -$3,473
Property Tax -$1,009
Property Insurance -$99
Property Management Fees -$129
CASH FLOW
-$1,190

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$999,999

PROJECTED PRICE

$3,520

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,750

INVESTMENT

$270,750

Down Payment
$250,000
Rehab Estimate
$5,750
Closing Costs
$15,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $250,000
Loan Amount $749,999
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$4,358

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
  • $4,014

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,900
$3,900
RENT COMPS ANALYSIS
  • 1193 Tres Lomas El Cajon, CA 1
    • 4 beds 4 baths ∙ 2,847 Sqft ∙ Built 1980 4 beds 4 baths ∙ 2,847 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 748 N 4th El Cajon, CA 2
    • 5 beds 3 baths ∙ 2,764 Sqft ∙ Built 1960 5 beds 3 baths ∙ 2,764 Sqft ∙ Built 1960
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.41
    •  
PROPERTY LISTING DETAILS
Manny Behar
1.858.335.2320
San Diego Home Search Realty
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210002760
Last Updated: 02/19/2021
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