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12023 Cotorro Way San Diego, CA 92128

4 Beds 2 Baths 1,946 sqft Built 1978

$864,900

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $444.45
  • 3 Days on Market
  • MLS # : 200052677
  • Updated Date : 11/27/2020 at 18:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,946 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Nicely maintained single story, 4-bedroom home in The Greens of Rancho Bernardo. Remodeled kitchen with granite counters, built-in stainless oven and microwave opens to family room. Remodeled bathrooms, inside laundry room, vinyl dual paned windows/sliders. Beautifully landscaped backyard with south/westerly views and covered brick patio. Community Swim & Tennis Club, $489/year for unlimited use, $330/yr. for limited use. Poway School District, Chaparral Elem., Bernardo Heights Middle, and RB High.

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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: Rancho Bernardo

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $233k746k

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

Neighborhood: Rancho Bernardo

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16273384

* 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
Chaparral Elementary School Primary Regular 839 32 9
Bernardo Heights Middle School Middle Regular 1,449 55 8
Rancho Bernardo High School High Regular 2,183 80 9

Chaparral Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 32
9
GreatSchools Rating

Bernardo Heights Middle School

  • Education Level: Middle
  • # of students: 1,449
  • # of teachers: 55
8
GreatSchools Rating

Rancho Bernardo High School

  • Education Level: High
  • # of students: 2,183
  • # of teachers: 80
9
GreatSchools Rating
 

$778,410$951,390$864,900

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$3,191
Property Tax -$799
Property Insurance -$76
Property Management Fees -$129
CASH FLOW
-$915

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.

$864,900

PROJECTED PRICE

$3,280

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.0%
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$234,949

INVESTMENT

$234,949

Down Payment
$216,225
Rehab Estimate
$5,750
Closing Costs
$12,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,191

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $216,225
Loan Amount $648,675
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$10,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $1.69

    LIST RENT PER SQFT
  • $3,503

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,2804$3,4955$3,495
$3,495
RENT COMPS ANALYSIS
  • 12023 Cotorro Way San Diego, CA 3
    • 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $1.69
    •  
  • 18990 Caminito Cantilena #51 San Diego, CA 1
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 1996
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.72
    •  
  • 18761 Caminito Pasadero #119 San Diego, CA 2
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 1998
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.72
    •  
  • 10969 Matinal Circle San Diego, CA 4
    • 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 1986
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.88
    •  
  • 17606 Azucar Way San Diego, CA 5
    • 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 1986
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.88
    •  
PROPERTY LISTING DETAILS
Diana Webber
1.858.735.4463
Coldwell Banker Realty
BESbswy