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13452 Ogunquit Avenue Poway, CA 92064

3 Beds 2 Baths 993 sqft Built 1960

$615,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $619.34
  • 2 Days on Market
  • MLS # : 200050530
  • Updated Date : 11/02/2020 at 21:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 993 sqft
  • Baths : 2 full
Listing Agent

Mountain Trust Realty Services

Listing Agent's Description

Come See this beautiful Poway home on a large oversized corner lot with lots of room to grow. This upgraded 3 bed / 2 bath home includes a large kitchen with granite countertops with hickory cabinets, beautiful well kept flooring, Bathrooms have been upgraded, and new solar was just added! This property has has a covered patio and a gated fence for RV parking. Close to Poway schools, train park, biking, and horse trails.

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
Garden Road Elementary School Primary Regular 440 18 9
Twin Peaks Middle School Middle Regular 1,192 46 7
Poway High School High Regular 2,252 82 9

Garden Road Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 18
9
GreatSchools Rating

Twin Peaks Middle School

  • Education Level: Middle
  • # of students: 1,192
  • # of teachers: 46
7
GreatSchools Rating

Poway High School

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

$553,500$676,500$615,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$2,269
Property Tax -$575
Property Insurance -$52
Property Management Fees -$129
CASH FLOW
-$886

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.

$615,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.35%

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$10k

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$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,006

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
  • $2,363

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,395
$2,395
RENT COMPS ANALYSIS
  • 13452 Ogunquit Avenue Poway, CA 1
    • 3 beds 2 baths ∙ 993 Sqft ∙ Built 1960 3 beds 2 baths ∙ 993 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 13019 Ashgate Place Poway, CA 2
    • 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1972
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $2.38
    •  
PROPERTY LISTING DETAILS
Gary Cooper
1.858.376.1299
Mountain Trust Realty Services
BESbswy