Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1196 Larkspur Ln Carlsbad, CA 92008

3 Beds 3 Baths 1,575 sqft Built 1961

$899,000

List Price

$3,220

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $570.79
  • 6 Days on Market
  • MLS # : 210002131
  • Updated Date : 01/28/2021 at 04:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,575 sqft
  • Baths : 3 full
Listing Agent

Re/max United

Listing Agent's Description

Sparkling clean superb Olde Carlsbad location ranch style home on LARGE lot at the end of a double cul-de-sac. Roomy floor plan with 2 sets of sliders to the wonderful backyard. Covered patio with ocean view per owner. Enjoy fresh citrus from your own trees! Solid surface counters in kitchen and baths. White cabinetry. Double sinks in main bath and cedar lined closet in main bedroom. Home is being sold in its current condition with no repairs to be made by the seller.

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

Neighborhood: Olde Carlsbad

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900kPrice in $240k979k

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

Neighborhood: Olde Carlsbad

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16273922

* 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
Magnolia Elementary School Primary Regular 476 17 9
Valley Middle School Middle Regular 1,027 37 8
Carlsbad High School High Regular 2,685 101 9

Magnolia Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 17
9
GreatSchools Rating

Valley Middle School

  • Education Level: Middle
  • # of students: 1,027
  • # of teachers: 37
8
GreatSchools Rating

Carlsbad High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 101
9
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$3,123
Property Tax -$801
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$899

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.

$899,000

PROJECTED PRICE

$3,220

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.4%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,998

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
  • $3,239

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7503$3,2954$3,299
$3,299
RENT COMPS ANALYSIS
  • 1196 Larkspur Ln Carlsbad, CA 1
    • 3 beds 3 baths ∙ 1,575 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,575 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2511 Via Sorbete Carlsbad, CA 2
    • 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 1978
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.84
    •  
  • 4315 La Portalada Dr Carlsbad, CA 3
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1976
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.04
    •  
  • 3149 Jefferson St. #b Carlsbad, CA 4
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1978
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,299
    • $2.29
    •  
PROPERTY LISTING DETAILS
Lela Hankins
1.760.809.4627
Re/max United
BESbswy