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12760 Larchmont St Poway, CA 92064

3 Beds 2 Baths 2,181 sqft Built 1978

INVESTimate

$830,000

List Price

$3,300

$3,050 - $3,550

Rent Est.

$875,152  ( +5.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $380.56
  • 6 Days on Market
  • MLS # : 200040495
  • Updated Date : 08/22/2020 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,181 sqft
  • Baths : 2 full
Listing Agent

Anna Nevares, Broker

Listing Agent's Description

No HOA! No Mello Roos! Nestled back on a cul-de-sac in desirable Poway, this single level detached home with a pool sized backyard has so much to offer. The huge sized bonus room at the entry will have you dreaming of what to do in the space - there are endless possibilities. Recently updated kitchen is light and bright. Fully paid solar will help keep energy costs down. Located within the award winning Poway School District and close to shopping, lakes, hiking trails and more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

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
Painted Rock Elementary School Primary Regular 666 25 9
Bernardo Heights Middle School Middle Regular 1,449 55 8
Poway High School High Regular 2,252 82 9

Painted Rock Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 25
9
GreatSchools Rating

Bernardo Heights Middle School

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

Poway High School

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

$747,000$913,000$830,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

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$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$3,062
Property Tax -$776
Property Insurance -$82
Property Management Fees -$129
CASH FLOW
-$750

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.

$830,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.44%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,700

INVESTMENT

$225,700

Down Payment
$207,500
Rehab Estimate
$5,750
Closing Costs
$12,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,500
Loan Amount $622,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$17,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $3,593

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0503$3,2004$3,3005$3,350
$3,350
RENT COMPS ANALYSIS
  • 12760 Larchmont St Poway, 4
    • 3 beds 2 baths ∙ 2,181 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,181 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.51
    •  
  • 15361 Avenida Rorras San Diego, 1
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1987
    LEASED 04/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.60
    •  
  • 15369 Avenida Rorras San Diego, 2
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1987
    LEASED 03/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.65
    •  
  • 14560 Rutledge Square San Diego, 3
    • 3 beds 3 baths ∙ 2,026 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,026 Sqft ∙ Built 1989
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.58
    •  
  • 13828 Esprit Ave. San Diego, 5
    • 4 beds 3 baths ∙ 1,902 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,902 Sqft ∙ Built 1992
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.76
    •  
PROPERTY LISTING DETAILS
Anna Nevares
1.760.458.1958
Anna Nevares, Broker
BESbswy