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1520 Sara Marie Place Ramona, CA 92065

4 Beds 3 Baths 2,354 sqft Built 2007

$738,999

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $313.93
  • 12 Days on Market
  • MLS # : 210006226
  • Updated Date : 03/19/2021 at 18:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,354 sqft
  • Baths : 3 full
Listing Agent

The Home Team

Listing Agent's Description

Paid for solar! This 2 story, 2354 sq foot, 4 bedroom, 3 bath property is equipped to store RV or toys and perfect for parties! In the heart of town, the location provides easy access to shopping, dining, and entertainment. Floorplan boasts an upgraded kitchen with granite countertops, stainless appliances, wood-toned laminate flooring, custom bathrooms with travertine tile, 9 ft ceilings and a cozy fireplace. Backyard is low maintenance with artificial turf and aluminum-wood patio cover. The new spa with cabana is the perfect place to relax! Fun Fact: The annual Ramona fireworks show will literally be displayed over your home! Front row seating in the cul-de-sac! Come take a tour!

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: Ramona

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $210k594k

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

Neighborhood: Ramona

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13692885

* 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
Olive Peirce Middle School Middle Regular 847 33 6
Ramona High School High Regular 1,689 63 7

Olive Peirce Middle School

  • Education Level: Middle
  • # of students: 847
  • # of teachers: 33
6
GreatSchools Rating

Ramona High School

  • Education Level: High
  • # of students: 1,689
  • # of teachers: 63
7
GreatSchools Rating
 

$665,099$812,899$738,999

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$2,567
Property Tax -$811
Property Insurance -$86
Property Management Fees -$129
CASH FLOW
-$613

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$738,999

PROJECTED PRICE

$2,980

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,585

INVESTMENT

$201,585

Down Payment
$184,750
Rehab Estimate
$5,750
Closing Costs
$11,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,567

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,750
Loan Amount $554,249
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$14,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,990

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,980
1$2,9802$2,995
$2,995
RENT COMPS ANALYSIS
  • 1520 Sara Marie Place Ramona, CA 1
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.27
    •  
  • 1508 Sara Marie Pl Ramona, CA 2
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2007
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.27
    •  
PROPERTY LISTING DETAILS
Jon Erro
1.760.525.8690
The Home Team
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210006226
Last Updated: 03/19/2021
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