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13303 Greenstone Ct San Diego, CA 92131

5 Beds 5 Baths 4,720 sqft Built 2006

$1,550,000

List Price

$7,000

$6.8K - $7.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $328.39
  • 3 Days on Market
  • MLS # : 210003829
  • Updated Date : 02/13/2021 at 03:32
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,720 sqft
  • Baths : 4 full , 1 half
Listing Agent

The Avenue Home Collective

Listing Agent's Description

Stunning Stonebridge Estates resort-like home with everything one could need. Ultimate entertainer's backyard with gorgeous pool & gazebo, overlooking the private, serene open space. This estate features dual master bedrooms, one of which on entry level with direct access to backyard. Harwood flooring, house & pool solar system. Elegant kitchen overlooking huge family room. Large and versatile loft area. Walking distance to playground & park. Located within Poway Unified Schools district.

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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: Montecito

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $233k1088k

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

Neighborhood: Montecito

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000250030003500400045005000Rent in $16275144

* 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
Morning Creek Elementary School Primary Regular 823 30 8
Meadowbrook Middle School Middle Regular 1,343 53 7
Mt. Carmel High School High Regular 2,014 47 9

Morning Creek Elementary School

  • Education Level: Primary
  • # of students: 823
  • # of teachers: 30
8
GreatSchools Rating

Meadowbrook Middle School

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

Mt. Carmel High School

  • Education Level: High
  • # of students: 2,014
  • # of teachers: 47
9
GreatSchools Rating
 

$1,395,000$1,705,000$1,550,000

PURCHASE PRICE

$6,300$7,700$7,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $7,000
EXPENSES Loan Payment -$5,384
Property Tax -$1,864
Property Insurance -$146
HOA -$145
Property Management Fees -$129
CASH FLOW
-$668

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.

$1,550,000

PROJECTED PRICE

$7,000

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.1%
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$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k$40k$50k$60k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$416,500

INVESTMENT

$416,500

Down Payment
$387,500
Rehab Estimate
$5,750
Closing Costs
$23,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$5,384

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $387,500
Loan Amount $1,162,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$67,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $7,000

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $7,505

    COMP ESTIMATED VALUE
  • $1.59

    COMP AVG. RENT PER SQFT
Comps Range
$7,000
1$7,0002$7,500
$7,500
RENT COMPS ANALYSIS
  • 13303 Greenstone Ct San Diego, CA 1
    • 5 beds 5 baths ∙ 4,720 Sqft ∙ Built 2006 5 beds 5 baths ∙ 4,720 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $7,000
    • $1.48
    •  
  • 13342 Mahogany Cv San Diego, CA 2
    • 5 beds 5 baths ∙ 4,720 Sqft ∙ Built 2005 5 beds 5 baths ∙ 4,720 Sqft ∙ Built 2005
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,500
    • $1.59
    •  
PROPERTY LISTING DETAILS
Melissa Sofia
1.858.705.1922
The Avenue Home Collective
BESbswy