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PROPERTY INFO
FACTS
- Single Family
- Built In 1959
- Price/Sqft : $432.05
- 4 Days on Market
- MLS # : 210003015
- Updated Date : 02/04/2021 at 22:15
CONSTRUCTION
- Beds : 3
- Floor Size : 1,354 sqft
- Baths : 3 full
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
Location, location, location. This home is located in the desired neighborhood Olive Hills. Offering a great open layout with potential to grow. The yard space makes it a perfect size to entertain guests, kids, dogs or toys. Lily Ave is located close to freeway access, grocery stores and schools. The home has a "newer" roof, 16 solar panels, dual paned windows and more. This neighborhood does have sidewalks making it a safe place to walk the dogs, ride bikes, or watch the kids play. More to see!
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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
Zip Code: 92021
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92021
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,990 |
| EXPENSES | Loan Payment | -$2,032 |
| Property Tax | -$590 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$178
|
||
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.
$585,000
PROJECTED PRICE
$2,990
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.15% |
| Appreciation Year (1-5) | 7.1% |
| 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
$160,775
LOAN DETAILS
$2,032
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $146,250 |
| Loan Amount | $438,750 |
9
YEARS SAVED
$71,925
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
-
$3,209
COMP ESTIMATED VALUE -
$2.37
COMP AVG. RENT PER SQFT
Comps Range
-
1643 Lily Ave El Cajon, CA 1
- 3 beds 3 baths ∙ 1,354 Sqft ∙ Built 1959 3 beds 3 baths ∙ 1,354 Sqft ∙ Built 1959
- Rent
- Rent Per SQFT
- $0
- $0.00
-
1378 Ivory Ct El Cajon, CA 2
- 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1958
LEASED 10/28/19- Rent
- Rent Per SQFT
- $2,400
- $2.37
PROPERTY LISTING DETAILS
1.619.954.5758
Berkshire Hathaway Homeservice
