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14419 Corte Morea San Diego, CA 92129

3 Beds 3 Baths 1,843 sqft Built 1988

$870,000

List Price

$3,150

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $472.06
  • 6 Days on Market
  • MLS # : 210001501
  • Updated Date : 01/20/2021 at 18:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,843 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Welcome home to this beautifully maintained property located in the renowned Poway School District. Perched on a cul-de-sac featuring loads of curb appeal this home features a functional layout, loads of natural sunlight, a formal living room, dining room & family room w/fireplace, high ceilings, vinyl plank flooring throughout, main bedroom retreat w/ample closet space, large open bathroom, private backyard, perfectly sized additional 2 bedrooms with breathtaking views, solar & more. Please see supp.

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: Sunset Hills

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $233k798k

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

Neighborhood: Sunset Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16273767

* 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
Adobe Bluffs Elementary School Primary Regular 372 15 9
Black Mountain Middle School Middle Regular 1,275 47 8
Westview High School High Regular 2,283 56 10

Adobe Bluffs Elementary School

  • Education Level: Primary
  • # of students: 372
  • # of teachers: 15
9
GreatSchools Rating

Black Mountain Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 47
8
GreatSchools Rating

Westview High School

  • Education Level: High
  • # of students: 2,283
  • # of teachers: 56
10
GreatSchools Rating
 

$783,000$957,000$870,000

PURCHASE PRICE

$2,835$3,465$3,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,150
EXPENSES Loan Payment -$3,022
Property Tax -$803
Property Insurance -$74
Property Management Fees -$129
CASH FLOW
-$878

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.

$870,000

PROJECTED PRICE

$3,150

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.7%
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-$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$236,300

INVESTMENT

$236,300

Down Payment
$217,500
Rehab Estimate
$5,750
Closing Costs
$13,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,022

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $217,500
Loan Amount $652,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$8,334

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
  • $3,170

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1003$3,1004$3,1955$3,600
$3,600
RENT COMPS ANALYSIS
  • 14419 Corte Morea San Diego, CA 1
    • 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9029 Stargaze Avenue San Diego, CA 2
    • 4 beds 3 baths ∙ 1,764 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,764 Sqft ∙ Built 1985
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.76
    •  
  • 14353 Bourgeois Way San Diego, CA 3
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1987
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.65
    •  
  • 14350 El Vestido St San Diego, CA 4
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1987
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.79
    •  
  • 9065 Westvale Rd San Diego, CA 5
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1985
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.68
    •  
PROPERTY LISTING DETAILS
Tiffany Trost
1.619.504.8264
Compass
BESbswy