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1460 Spyglass Ct Encinitas, CA 92024

5 Beds 5 Baths 4,237 sqft Built 2004

INVESTimate

$1,949,000

List Price

$7,280

$7,030 - $7,530

Rent Est.

$2,084,261  ( +6.94%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $460.00
  • 10 Days on Market
  • MLS # : 200039760
  • Updated Date : 08/23/2020 at 16:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,237 sqft
  • Baths : 4 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Expansive 5-Bed Cul-de-Sac Encinitas Ranch Home Near Golf and the Beach — Luxurious living inside and out! Enjoy 5 beds with 3 en-suite baths, 1 jack-and-jill bath, plus an office with built-ins. Hardwood floors in the soaring two-story foyer, formal dining, and living spaces with 2 fireplaces. Great wine cellar, water purification system and custom doors. Gourmet kitchen boasts granite counters, Subzero fridge, Bosch double ovens and dishwasher, and GE Monogram gas range.

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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

Neighborhood: Encinitas

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $240k1064k

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

Neighborhood: Encinitas

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $16274397

* 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
Capri Elementary School Primary Regular 705 28 7
Oak Crest Middle School Middle Regular 852 36 8
La Costa Canyon High School High Regular 2,013 79 9

Capri Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 28
7
GreatSchools Rating

Oak Crest Middle School

  • Education Level: Middle
  • # of students: 852
  • # of teachers: 36
8
GreatSchools Rating

La Costa Canyon High School

  • Education Level: High
  • # of students: 2,013
  • # of teachers: 79
9
GreatSchools Rating
 

$1,754,100$2,143,900$1,949,000

PURCHASE PRICE

$6,552$8,008$7,280

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $7,280
EXPENSES Loan Payment -$7,191
Property Tax -$2,230
Property Insurance -$134
HOA -$198
Property Management Fees -$129
CASH FLOW
-$2,602

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.

$1,949,000

PROJECTED PRICE

$7,280

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.94%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$522,235

INVESTMENT

$522,235

Down Payment
$487,250
Rehab Estimate
$5,750
Closing Costs
$29,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,191

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $487,250
Loan Amount $1,461,750
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$4,468

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
  • $8,347

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$8,500
$8,500
RENT COMPS ANALYSIS
  • 1460 Spyglass Ct Encinitas, 1
    • 5 beds 5 baths ∙ 4,237 Sqft ∙ Built 2004 5 beds 5 baths ∙ 4,237 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 617 Cypress Hills Dr Encinitas, 2
    • 4 beds 5 baths ∙ 4,318 Sqft ∙ Built 2004 4 beds 5 baths ∙ 4,318 Sqft ∙ Built 2004
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $8,500
    • $1.97
    •  
PROPERTY LISTING DETAILS
Mark Caspersen
1.858.215.4001
Compass
BESbswy