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16992 Dominican Dr San Diego, CA 92128

2 Beds 2 Baths 1,402 sqft Built 1964

$729,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $519.97
  • 3 Days on Market
  • MLS # : 200053843
  • Updated Date : 12/13/2020 at 01:18
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,402 sqft
  • Baths : 2 full
Listing Agent

Windermere Homes & Estates

Listing Agent's Description

Working at home now? Finally writing that novel ? Well this is the place where you would choose to spend night and day, even if you weren’t required to by Covid. The Family room is a spacious office combo. One year new kitchen with all stainless appliances , quartz counter tops , farm sink, new cabinets with sliders, all ready for those Holiday recipes. Serve the feast in the dining room, or gawking at the splendid panoramic view outside. Tired of all the hoopla? Slip away. See Supplements below

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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: Rancho Bernardo

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $233k746k

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

Neighborhood: Rancho Bernardo

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16273384

* 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
Highland Ranch Elementary School Primary Regular 745 27 7
Bernardo Heights Middle School Middle Regular 1,449 55 8
Rancho Bernardo High School High Regular 2,183 80 9

Highland Ranch Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 27
7
GreatSchools Rating

Bernardo Heights Middle School

  • Education Level: Middle
  • # of students: 1,449
  • # of teachers: 55
8
GreatSchools Rating

Rancho Bernardo High School

  • Education Level: High
  • # of students: 2,183
  • # of teachers: 80
9
GreatSchools Rating
 

$656,100$801,900$729,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,690
Property Tax -$671
Property Insurance -$62
HOA -$33
Property Management Fees -$129
CASH FLOW
-$1,175

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.

$729,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$169

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
  • $2,411

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,3504$2,4755$2,500
$2,500
RENT COMPS ANALYSIS
  • 16992 Dominican Dr San Diego, CA 1
    • 2 beds 2 baths ∙ 1,402 Sqft ∙ Built 1964 2 beds 2 baths ∙ 1,402 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 12512 Rios Rd San Diego, CA 2
    • 2 beds 2 baths ∙ 1,358 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,358 Sqft ∙ Built 1970
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.66
    •  
  • 16523 Roca Dr San Diego, CA 3
    • 2 beds 2 baths ∙ 1,402 Sqft ∙ Built 1964 2 beds 2 baths ∙ 1,402 Sqft ∙ Built 1964
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.68
    •  
  • 16621 San Salvador Ct San Diego, CA 4
    • 2 beds 2 baths ∙ 1,450 Sqft ∙ Built 1968 2 beds 2 baths ∙ 1,450 Sqft ∙ Built 1968
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.71
    •  
  • 11898 Paseo Lucido #131 San Diego, CA 5
    • 2 beds 3 baths ∙ 1,368 Sqft ∙ Built 1982 2 beds 3 baths ∙ 1,368 Sqft ∙ Built 1982
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.83
    •  
PROPERTY LISTING DETAILS
Nancy Canfield
1.619.871.9333
Windermere Homes & Estates
BESbswy