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PROPERTY INFO
FACTS
- Single Family
- Built In 1978
- Price/Sqft : $308.79
- 3 Days on Market
- MLS # : 210001256
- Updated Date : 01/16/2021 at 18:24
CONSTRUCTION
- Beds : 3
- Floor Size : 1,616 sqft
- Baths : 2 full
Listing Agent
Keller Williams Sd Metro
Listing Agent's Description
Welcome to this fabulous split level 3BR 2BA family home on top of Dictionary Hill in Spring Valley. This property, with its huge lot and amazing unobstructed views as far as the eye can see, has big ticket improvements such as new leased solar, new roof, windows, HVAC, water heater and exterior paint. Hurry as this property is perfect for those looking for a great family home or investment property located on the top of the world!
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: La Presa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: La Presa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,470 |
| EXPENSES | Loan Payment | -$1,733 |
| Property Tax | -$532 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$8
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$499,000
PROJECTED PRICE
$2,470
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.15% |
| Appreciation Year (1-5) | 7.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.16% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$137,985
LOAN DETAILS
$1,733
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $124,750 |
| Loan Amount | $374,250 |
7.33
YEARS SAVED
$45,218
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,704
COMP ESTIMATED VALUE -
$1.67
COMP AVG. RENT PER SQFT
Comps Range
-
1626 La Mesa Avenue Spring Valley, CA 1
- 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1978
- Rent
- Rent Per SQFT
- $0
- $0.00
-
2390 Bar Bit Rd Spring Valley, CA 2
- 4 beds 2 baths ∙ 1,445 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,445 Sqft ∙ Built 1974
LEASED 05/30/20- Rent
- Rent Per SQFT
- $2,495
- $1.73
-
1214 Cuyamaca Ave Spring Valley, CA 3
- 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 1988
LEASED 08/26/20- Rent
- Rent Per SQFT
- $2,550
- $1.55
-
10008 Ledgeside St Spring Valley, CA 4
- 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1976
LEASED 04/28/20- Rent
- Rent Per SQFT
- $3,000
- $1.74
PROPERTY LISTING DETAILS
1.619.850.5390
Keller Williams Sd Metro
