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13421 Utopia Rd Poway, CA 92064

2 Beds 2 Baths 907 sqft Built 1972

$549,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $605.29
  • 13 Days on Market
  • MLS # : 200051645
  • Updated Date : 11/15/2020 at 02:40
CONSTRUCTION
  • Beds : 2
  • Floor Size : 907 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to your new single level home, located in the heart of Poway with no HOA or Mello-Roos. Enjoy every bit of this charming home that features an inviting floor plan, private backyard, & an updated kitchen with quartz countertops, shaker cabinets, & stylish backsplash. This home will also help you settle into the modern amenities with ample storage & and an updated master bath. Out back you can relax under the large covered patio and enjoy the cool evening breezes or even entertain your friends &

SEE MORE

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
Pomerado Elementary School Primary Regular 440 18 7
Meadowbrook Middle School Middle Regular 1,343 53 7
Poway High School High Regular 2,252 82 9

Pomerado Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 18
7
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
 

$494,100$603,900$549,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$2,026
Property Tax -$517
Property Insurance -$50
Property Management Fees -$129
CASH FLOW
-$851

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.

$549,000

PROJECTED PRICE

$1,870

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$342

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $1,968

    COMP ESTIMATED VALUE
  • $2.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,870
$1,870
RENT COMPS ANALYSIS
  • 13421 Utopia Rd Poway, CA 2
    • 2 beds 2 baths ∙ 907 Sqft ∙ Built 1972 2 beds 2 baths ∙ 907 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $2.06
    •  
  • 12609 Robison Blvd #205 Poway, CA 1
    • 2 beds 2 baths ∙ 761 Sqft ∙ Built 1976 2 beds 2 baths ∙ 761 Sqft ∙ Built 1976
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $2.17
    •  
PROPERTY LISTING DETAILS
Wendy Carter
1.858.716.6750
Keller Williams Realty
BESbswy