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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $719.95
- 2 Days on Market
- MLS # : 210004488
- Updated Date : 02/20/2021 at 19:33
CONSTRUCTION
- Beds : 4
- Floor Size : 2,221 sqft
- Baths : 2 full , 1 half
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
Once in a lifetime opportunity!! One of the best backyards in all of Encinitas- mini fruit orchard, swing set,playhouse,trampoline,sport court,hot tub,sand box, & Swiss Family Robinson style fort complete with a zipline basket transporter to send toys & fort supplies back and forth!Single story home on a cul de sac, impeccably decorated; from the white washed wide plank oak hardwood floors,Viking appliances,wainscoting, and shiplap accent walls, to the glass door knobs, no detail was overlooked. Enjoy your morning cup of coffee in your porch swing as you look out onto the nearly 1/3 acre, low maintenance astro turf yard or look forward to entertaining again around the built-in gas fire pit on your paver patio. This light and airy home with its functional floor plan and contemporary farmhouse finishes is one of a kind.Large pie shaped lot provides plenty of room for a pool.One of the best neighborhoods in Encinitas with multiple cul de sacs and close to all schools, shops and restaurants.
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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: Olivenhain
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Olivenhain
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,550 |
| EXPENSES | Loan Payment | -$5,554 |
| Property Tax | -$1,489 | |
| Property Insurance | -$83 | |
| HOA | -$36 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$2,741
|
||
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.
$1,599,000
PROJECTED PRICE
$4,550
PROJECTED RENT
0.28%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.41% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.56% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$429,485
LOAN DETAILS
$5,554
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $399,750 |
| Loan Amount | $1,199,250 |
0.17
YEARS SAVED
$144
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$4,597
COMP ESTIMATED VALUE -
$2.07
COMP AVG. RENT PER SQFT
Comps Range
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1224 Green Orchard Pl Encinitas, CA 1
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- $3,995
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- 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1984
LEASED 01/28/20- Rent
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- $4,200
- $2.15
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2251 Paseo Saucedal Carlsbad, CA 4
- 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1999
LEASED 03/15/20- Rent
- Rent Per SQFT
- $4,350
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1284 Meadow Wood Place Encinitas, CA 5
- 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 1990
LEASED 01/09/21- Rent
- Rent Per SQFT
- $4,700
- $1.96
PROPERTY LISTING DETAILS
1.858.775.9918
Berkshire Hathaway Homeservice
MLS #: 210004488
Last Updated: 02/20/2021
