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12071 Sterling Hill Ln Lakeside, CA 92040

3 Beds 2 Baths 1,354 sqft Built 1999

$638,999

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $471.93
  • 7 Days on Market
  • MLS # : 200053942
  • Updated Date : 12/15/2020 at 19:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,354 sqft
  • Baths : 2 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Seller to entertain offers between $599,999 - $638,999 Inviting spacious one story home in a desirable cul-de-sac setting features 3 car garage set on a large 13,921 sq. ft. lot with paid off Solar energy panels. Home features a covered front porch into a huge great room with fireplace. Kitchen features a walk in pantry. Master suite includes huge walk in closet. Huge yard area for entertaining, beautiful city mountain hill views on a peaceful street location.

SEE MORE

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: Winter Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Winter Gardens

NeighborhoodNIR 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
Lemon Crest Elementary School Primary Regular 589 24 3
Lakeside Middle School Middle Regular 816 32 7
El Capitan High School High Regular 1,649 72 6

Lemon Crest Elementary School

  • Education Level: Primary
  • # of students: 589
  • # of teachers: 24
3
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 32
7
GreatSchools Rating

El Capitan High School

  • Education Level: High
  • # of students: 1,649
  • # of teachers: 72
6
GreatSchools Rating
 

$575,099$702,899$638,999

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,358
Property Tax -$704
Property Insurance -$61
Property Management Fees -$129
CASH FLOW
-$812

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.

$638,999

PROJECTED PRICE

$2,440

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,358

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $159,750
Loan Amount $479,249
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,508

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
  • $2,536

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,5004$2,850
$2,850
RENT COMPS ANALYSIS
  • 12071 Sterling Hill Ln Lakeside, CA 1
    • 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 11904 Rocky Home Dr Lakeside, CA 2
    • 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1989
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.87
    •  
  • 11916 Rocky Home Dr Lakeside, CA 3
    • 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1989
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.87
    •  
  • 9204 Sombria Rd Lakeside, CA 4
    • 4 beds 2 baths ∙ 1,518 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,518 Sqft ∙ Built 1998
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.88
    •  
PROPERTY LISTING DETAILS
Dan Conway
1.858.243.0873
Pacific Sotheby's Int'l Realty
BESbswy