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13521 Brett Harte Dr. Lakeside, CA 92040

3 Beds 2 Baths 1,120 sqft Built 1973

$560,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $500.00
  • 18 Days on Market
  • MLS # : 200054834
  • Updated Date : 01/14/2021 at 20:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,120 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Sd Metro

Listing Agent's Description

Start the new year off by owning a beautiful home! This Lakeside beauty has had the same owners for the last 30 years and has been cared for with love. French doors in each room, with two sets in the primary bedroom for a cool breeze. Features include, hardwood floors, tiled bedrooms, new carpet in the primary, and upgraded bathrooms. Enjoy your large, enclosed front patio and huge backyard, with enough space for RV parking, gardening, bbq's and all the outdoor activities.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lakeside

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $213k594k

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

Neighborhood: Lakeside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14502885

* 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
Lindo Park Elementary School Primary Regular 566 23 4
Tierra Del Sol Middle School Middle Regular 595 24 5
El Capitan High School High Regular 1,649 72 6

Lindo Park Elementary School

  • Education Level: Primary
  • # of students: 566
  • # of teachers: 23
4
GreatSchools Rating

Tierra Del Sol Middle School

  • Education Level: Middle
  • # of students: 595
  • # of teachers: 24
5
GreatSchools Rating

El Capitan High School

  • Education Level: High
  • # of students: 1,649
  • # of teachers: 72
6
GreatSchools Rating
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,945
Property Tax -$641
Property Insurance -$55
Property Management Fees -$129
CASH FLOW
-$530

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$560,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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-$10k-$5.0k$0.0$5.0k$10k$15k

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$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,753

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
  • $2,229

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,925
$2,925
RENT COMPS ANALYSIS
  • 13521 Brett Harte Dr. Lakeside, CA 1
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10034 River St. #2 Lakeside, CA 2
    • 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1972
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.92
    •  
  • 13616 Avenida Del Charro El Cajon, CA 3
    • 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 1970
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,925
    • $2.06
    •  
PROPERTY LISTING DETAILS
Gina Maxwell
1.858.367.7202
Keller Williams Sd Metro
BESbswy