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12860 Orangeburg Ave San Diego, CA 92129

3 Beds 3 Baths 2,223 sqft Built 1982

$885,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $398.11
  • 6 Days on Market
  • MLS # : 200052905
  • Updated Date : 12/01/2020 at 22:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,223 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Connections

Listing Agent's Description

Welcome to your delightful home in the sought after Rancho Peñasquitos Community and Poway Unified School District. This 2- story detached family residence has ample room for raising your family. This grand 3 bedroom optional 4th, 2 full and one 1/2 bathroom. Approx. 2223 sq. ft. Home on a 12,626 sqft lot provides a lovely, distinguished feel. This “partially upgraded” home has an grand entry, spacious/vaulted ceiling living room, abundant windows and skylight

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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: Ridgewood

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $233k798k

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

Neighborhood: Ridgewood

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
Canyon View Elementary School Primary Regular 524 22 10
Mesa Verde Middle School Middle Regular 1,273 48 9
Westview High School High Regular 2,283 56 10

Canyon View Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 22
10
GreatSchools Rating

Mesa Verde Middle School

  • Education Level: Middle
  • # of students: 1,273
  • # of teachers: 48
9
GreatSchools Rating

Westview High School

  • Education Level: High
  • # of students: 2,283
  • # of teachers: 56
10
GreatSchools Rating
 

$796,500$973,500$885,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$3,265
Property Tax -$817
Property Insurance -$83
Property Management Fees -$129
CASH FLOW
-$894

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.

$885,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$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$240,275

INVESTMENT

$240,275

Down Payment
$221,250
Rehab Estimate
$5,750
Closing Costs
$13,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,265

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $221,250
Loan Amount $663,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$13,177

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $3,812

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4003$3,4504$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 12860 Orangeburg Ave San Diego, CA 2
    • 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.53
    •  
  • 12915 Amaranth San Diego, CA 1
    • 4 beds 3 baths ∙ 1,970 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,970 Sqft ∙ Built 1987
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.68
    •  
  • 12996 Isocoma San Diego, CA 3
    • 4 beds 3 baths ∙ 1,970 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,970 Sqft ∙ Built 1986
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.75
    •  
  • 11891 Westview Pkwy San Diego, CA 4
    • 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 2001
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.74
    •  
  • 12648 Ragweed St. San Diego, CA 5
    • 4 beds 3 baths ∙ 2,125 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,125 Sqft ∙ Built 1990
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.69
    •  
PROPERTY LISTING DETAILS
Bob Adams
1.858.603.0738
Re/max Connections
BESbswy