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12117 Lomica Dr San Diego, CA 92128

2 Beds 2 Baths 1,265 sqft Built 1965

$635,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $501.98
  • 3 Days on Market
  • MLS # : 200052328
  • Updated Date : 11/21/2020 at 16:06
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,265 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Please send PEAD-V form before showing -

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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
Highland Ranch Elementary School Primary Regular 745 27 7
Bernardo Heights Middle School Middle Regular 1,449 55 8
Rancho Bernardo High School High Regular 2,183 80 9

Highland Ranch Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 27
7
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
 

$571,500$698,500$635,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$2,343
Property Tax -$586
Property Insurance -$59
HOA -$33
Property Management Fees -$129
CASH FLOW
-$960

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.

$635,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.34%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$174,025

INVESTMENT

$174,025

Down Payment
$158,750
Rehab Estimate
$5,750
Closing Costs
$9,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,343

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $158,750
Loan Amount $476,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$480

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
  • $2,188

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0953$2,2504$2,3505$2,475
$2,475
RENT COMPS ANALYSIS
  • 12117 Lomica Dr San Diego, CA 1
    • 2 beds 2 baths ∙ 1,265 Sqft ∙ Built 1965 2 beds 2 baths ∙ 1,265 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 12116 Rancho Bernardo Road San Diego, CA 2
    • 2 beds 2 baths ∙ 1,119 Sqft ∙ Built 1969 2 beds 2 baths ∙ 1,119 Sqft ∙ Built 1969
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.87
    •  
  • 12512 Rios Rd San Diego, CA 3
    • 2 beds 2 baths ∙ 1,358 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,358 Sqft ∙ Built 1970
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.66
    •  
  • 16523 Roca Dr San Diego, CA 4
    • 2 beds 2 baths ∙ 1,402 Sqft ∙ Built 1964 2 beds 2 baths ∙ 1,402 Sqft ∙ Built 1964
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.68
    •  
  • 16621 San Salvador Ct San Diego, CA 5
    • 2 beds 2 baths ∙ 1,450 Sqft ∙ Built 1968 2 beds 2 baths ∙ 1,450 Sqft ∙ Built 1968
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.71
    •  
PROPERTY LISTING DETAILS
Kimberlee Wood
1.619.997.9177
Berkshire Hathaway Homeservice
BESbswy