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1372 Bluebird St El Cajon, CA 92020

3 Beds 2 Baths 1,312 sqft Built 1959

INVESTimate

$629,900

List Price

$2,370

$2,133 - $2,607

Rent Est.

$667,442  ( +5.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $480.11
  • 7 Days on Market
  • MLS # : 200040280
  • Updated Date : 08/21/2020 at 15:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,312 sqft
  • Baths : 2 full
Listing Agent

Best Homes Team

Listing Agent's Description

It's not just a home-it's the Fletcher Hills lifestyle! Gorgeous 3 bedroom/2 bath home on quiet cul-de-sac! Home sits back off street allowing for big, grassy front yard! From the time you enter you'll fall in love with the abundance of beautiful, natural, flowing light everywhere! Big living room with pristine engineered wood floors and cozy fireplace! To your left big dining area open to gourmet kitchen-ideal for entertaining! Please see supplement for more information on this one-of-a-kind home!

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MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Zip Code: 92020

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Zip Code: 92020

ZipNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
Flying Hills Elementary School Primary Magnet 533 22 6
Flying Hills Elementary School Middle Magnet 533 22 6
West Hills High School High Regular 1,958 73 8

Flying Hills Elementary School

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 22
6
GreatSchools Rating

Flying Hills Elementary School

  • Education Level: Middle
  • # of students: 533
  • # of teachers: 22
6
GreatSchools Rating

West Hills High School

  • Education Level: High
  • # of students: 1,958
  • # of teachers: 73
8
GreatSchools Rating
 

$566,910$692,890$629,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

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$1.8M

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$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$2,324
Property Tax -$637
Property Insurance -$60
Property Management Fees -$129
CASH FLOW
-$780

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$629,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 5.96%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,674

INVESTMENT

$172,674

Down Payment
$157,475
Rehab Estimate
$5,750
Closing Costs
$9,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,475
Loan Amount $472,425
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,132

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $2,283

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,3703$2,495
$2,495
RENT COMPS ANALYSIS
  • 1372 Bluebird St El Cajon, 2
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.81
    •  
  • 947 Greenfield Drive #unit G El Cajon, 1
    • 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1973
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.58
    •  
  • 6350 Severin Dr. La Mesa, 3
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1955
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.90
    •  
PROPERTY LISTING DETAILS
Robert Northrup
1.619.857.1155
Best Homes Team
BESbswy