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1585 White Horese Ct Bonita, CA 91902

4 Beds 3 Baths 2,895 sqft Built 1990

INVESTimate

$1,089,900

List Price

$3,550

$3,300 - $3,800

Rent Est.

$1,137,747  ( +4.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $376.48
  • 7 Days on Market
  • MLS # : 200040259
  • Updated Date : 08/24/2020 at 22:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,895 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker West

Listing Agent's Description

VIEW/VIEW/VIEW-GORGEOUS HACIENDA-SINGLE STORY MONTALVO-BEST CUL-DE-SAC-VIEW LOT-HAS NOT BEEN AVAILABLE FOR 17 YEARS-GREAT OPPORTUNITY TO GET THE BEAUTIFUL SINGLE STORY YOU HAVE ALWAYS DREAMED OF-LARGE PIE-SHAPED LOT-NO NEIGHBORS BEHIND-WALKING PATHS LARGE SIDE YARDS-GATED COURTYARD ENTRY-BEAUTIFUL DRAMATIC ENTRY- DRAMATIC VAULTED CEILINGS IN LIVING+DINING AREA-REMODELED KITCHEN-NEWER APPLIANCES-DOUBLE OVEN MICROWAVE-WINE FRIDGE-LARGE CENTER ISLAND-GORGEOUS TRENDY KITCHEN CABINETRY-SUNNY NOOK

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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: Bonita Long Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $240k751k

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

Neighborhood: Bonita Long Canyon

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15943384

* 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
Tiffany, Burton C Elementary School Primary Regular 568 23 7
Tiffany, Burton C Elementary School Middle Regular 568 23 7
Bonita Vista High School High Regular 2,487 88 8

Tiffany, Burton C Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 23
7
GreatSchools Rating

Tiffany, Burton C Elementary School

  • Education Level: Middle
  • # of students: 568
  • # of teachers: 23
7
GreatSchools Rating

Bonita Vista High School

  • Education Level: High
  • # of students: 2,487
  • # of teachers: 88
8
GreatSchools Rating
 

$980,910$1,198,890$1,089,900

PURCHASE PRICE

$3,195$3,905$3,550

RENT

DOWN PAYMENT
FINANCING

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-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,550
EXPENSES Loan Payment -$4,021
Property Tax -$1,090
Property Insurance -$100
Property Management Fees -$129
CASH FLOW
-$1,791

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.

$1,089,900

PROJECTED PRICE

$3,550

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 4.39%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$294,574

INVESTMENT

$294,574

Down Payment
$272,475
Rehab Estimate
$5,750
Closing Costs
$16,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,021

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $272,475
Loan Amount $817,425
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$173

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 1585 White Horese Ct Bonita,
    • 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Patti Mckelvey
1.619.271.8300
Coldwell Banker West
BESbswy