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PROPERTY INFO
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.
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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: Poway
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Poway
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$168,725
LOAN DETAILS
$2,269
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $153,750 |
| Loan Amount | $461,250 |
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
-
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
1.858.376.1299
Mountain Trust Realty Services
