Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

13683 Essence Rd San Diego, CA 92128

4 Beds 3 Baths 1,831 sqft Built 1993

$899,000

List Price

$3,310

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1993
  • Price/Sqft : $490.99
  • 11 Days on Market
  • MLS # : 200049745
  • Updated Date : 10/31/2020 at 18:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,831 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

JUST LISTED>Charming Carmel Mountain home.Open floor plan with Vaulted ceiling 2 Car garage with inside access/storage. Lovely private large pool and spa to enjoy with all family /friends. Newer fully fenced pet friendly yard facing trails and green environment.Granite kitchen with designer cabinets. Laundry room. Upgraded newly panted home. Premium artificial waterless turf to save you utilities/maintenance.Only $44 HOA. Desirable Walden Community home. Near Costco, shops, malls, Hwy 15,Poway schools.

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: Carmel Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $233k767k

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

Neighborhood: Carmel Mountain

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
Shoal Creek Elementary School Primary Regular 612 24 7
Meadowbrook Middle School Middle Regular 1,343 53 7
Rancho Bernardo High School High Regular 2,183 80 9

Shoal Creek Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 24
7
GreatSchools Rating

Meadowbrook Middle School

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

Rancho Bernardo High School

  • Education Level: High
  • # of students: 2,183
  • # of teachers: 80
9
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$3,317
Property Tax -$786
Property Insurance -$73
HOA -$44
Property Management Fees -$129
CASH FLOW
-$1,039

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.

$899,000

PROJECTED PRICE

$3,310

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.9%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$7,502

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,310

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $3,300

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,3103$3,3504$3,3505$3,450
$3,450
RENT COMPS ANALYSIS
  • 13683 Essence Rd San Diego, CA 2
    • 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $3,310
    • $1.81
    •  
  • 11962 Brewster Ct San Diego, CA 1
    • 4 beds 3 baths ∙ 1,813 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,813 Sqft ∙ Built 1992
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.79
    •  
  • 13828 Esprit Ave. San Diego, CA 3
    • 4 beds 3 baths ∙ 1,902 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,902 Sqft ∙ Built 1992
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.76
    •  
  • 14109 Via Corsini San Diego, CA 4
    • 4 beds 3 baths ∙ 1,817 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,817 Sqft ∙ Built 1991
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.84
    •  
  • 14160 Stoney Gate Place San Diego, CA 5
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1989
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.82
    •  
PROPERTY LISTING DETAILS
Anil Mavalankar
1.858.815.3596
First Team Real Estate
BESbswy