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12623 Soule St Poway, CA 92064

4 Beds 3 Baths 2,082 sqft Built 1961

$889,900

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $427.43
  • 9 Days on Market
  • MLS # : 210002562
  • Updated Date : 02/06/2021 at 18:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,082 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful single-level home located in a quiet, friendly, Poway neighborhood. Features include: upgraded & enlarged kitchen with granite countertops and all new appliances, new flooring throughout, updated bathrooms and 2 master suites! Large living room with built-in surround sound and wood-burning fireplace. New drought friendly landscape, front parking for a boat/trailer, private enclosed front patio and spacious back yard. The home also offers a bonus room which can be great for an office/play area

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Poway

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $240k754k

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

Neighborhood: Poway

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
Valley Elementary School Primary Regular 736 28 6
Meadowbrook Middle School Middle Regular 1,343 53 7
Poway High School High Regular 2,252 82 9

Valley Elementary School

  • Education Level: Primary
  • # of students: 736
  • # of teachers: 28
6
GreatSchools Rating

Meadowbrook Middle School

  • Education Level: Middle
  • # of students: 1,343
  • # of teachers: 53
7
GreatSchools Rating

Poway High School

  • Education Level: High
  • # of students: 2,252
  • # of teachers: 82
9
GreatSchools Rating
 

$800,910$978,890$889,900

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$3,091
Property Tax -$821
Property Insurance -$80
Property Management Fees -$129
CASH FLOW
-$1,051

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.

$889,900

PROJECTED PRICE

$3,070

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.4%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$241,574

INVESTMENT

$241,574

Down Payment
$222,475
Rehab Estimate
$5,750
Closing Costs
$13,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,091

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $222,475
Loan Amount $667,425
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,724

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
  • $3,008

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,3953$3,550
$3,550
RENT COMPS ANALYSIS
  • 12623 Soule St Poway, CA 1
    • 4 beds 3 baths ∙ 2,082 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,082 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 14228 Gaelyn Ct Poway, CA 2
    • 5 beds 3 baths ∙ 2,425 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,425 Sqft ∙ Built 1973
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.40
    •  
  • 12102 Poway Rd Poway, CA 3
    • 5 beds 3 baths ∙ 2,381 Sqft ∙ Built 1956 5 beds 3 baths ∙ 2,381 Sqft ∙ Built 1956
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.49
    •  
PROPERTY LISTING DETAILS
Jason Waldie
1.858.568.4950
Coldwell Banker Realty
BESbswy