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14382 Carnitas St Poway, CA 92064

4 Beds 2 Baths 2,068 sqft Built 1986

$1,200,000

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $580.27
  • 12 Days on Market
  • MLS # : 210019510
  • Updated Date : 07/12/2021 at 19:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,068 sqft
  • Baths : 2 full
Listing Agent

Homesmart Realty West

Listing Agent's Description

Beautiful Single level Home on a quiet street. Large 1/2 acre + lot with private back yard! Views of tooth rock mountain & twin peaks mountain! No HOA no Mello Roos! Open floor plan with lots of light! Dual vinyl windows through out entire house including 2 newer sliding dual glass doors! Kitchen upgraded 2018 with all new cabinets, Granite counters, gas stove top, microwave & oven built in. sink and faucets & garbage disposal and pantry! Newer paint exterior and interior in 2018. Newer forced gas heater & A/C in 2019! Brand new carpet in Living room. Large concrete patio in back yard and exterior sidewalk surrounds the home. Large front drive way parking with possible RV parking! SOLAR installed July 2014 is leased, buyer must assume lease. Ceiling light fixtures upgraded through out home. Complete revamp of landscaping includes drought tolerant plants/ rocks/ hardscapes/ micro sprinklers for low water usage. New fire ring & flagstone sitting area. Garden box and orchard trees of 1 tangerine, 1 Valencia orange , 1 lemon and 1 apple! Master bathroom remodeled/upgraded 2018 with tile shower, tile flooring and new vanity. Newer back patio wood shade cover!

SEE MORE

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

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
Tierra Bonita Elementary School Primary Regular 489 20 6
Twin Peaks Middle School Middle Regular 1,192 46 7
Poway High School High Regular 2,252 82 9

Tierra Bonita Elementary School

  • Education Level: Primary
  • # of students: 489
  • # of teachers: 20
6
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
 

$1,080,000$1,320,000$1,200,000

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$4,168
Property Tax -$1,110
Property Insurance -$79
Property Management Fees -$129
CASH FLOW
-$2,306

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.

$1,200,000

PROJECTED PRICE

$3,180

PROJECTED RENT

0.27%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,750

INVESTMENT

$323,750

Down Payment
$300,000
Rehab Estimate
$5,750
Closing Costs
$18,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,168

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $300,000
Loan Amount $900,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$61

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
  • $3,433

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,3003$3,5904$3,750
$3,750
RENT COMPS ANALYSIS
  • 14382 Carnitas St Poway, CA 1
    • 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 13558 Aldrin Ave Poway, CA 2
    • 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1981
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.49
    •  
  • 13672 Quiet Hills Dr Poway, CA 3
    • 5 beds 3 baths ∙ 2,301 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,301 Sqft ∙ Built 1990
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $1.56
    •  
  • 14747 Dash Way Poway, CA 4
    • 4 beds 2 baths ∙ 1,941 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,941 Sqft ∙ Built 1975
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.93
    •  
PROPERTY LISTING DETAILS
Phil Jones
1.858.722.6902
Homesmart Realty West
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210019510
Last Updated: 07/12/2021
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