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2146 Furner St El Cajon, CA 92020

3 Beds 2 Baths 1,992 sqft Built 1985

INVESTimate

$829,900

List Price

$2,810

$2,560 - $3,060

Rent Est.

$879,777  ( +6.01%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1985
  • Price/Sqft : $416.62
  • 9 Days on Market
  • MLS # : 200039814
  • Updated Date : 08/25/2020 at 21:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,992 sqft
  • Baths : 2 full
Listing Agent

Douglas Elliman Of California

Listing Agent's Description

Welcome Home to this Amazing, Fletcher Hills, single story, VIEW HOME, on a Cul-De-Sac! This Pinterest worthy view home has been totally decked out w/ New laminate flooring and tile throughout. New bath and kitchen cabinets, beautiful designer quartz counter-tops, fancy new fixtures and appliances. Did I mention the view from the large-oversized private backyard?! This pad has a 3 car garage and plenty of parking. Several interior walls have been accented w/ white wood panels for added dimension!

SEE MORE

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: Santee

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $205k594k

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

Neighborhood: Santee

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14752885

* 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
Pride Academy At Prospect Avenue Elementary School Primary Regular 572 21 7
Pride Academy At Prospect Avenue Elementary School Middle Regular 572 21 7
West Hills High School High Regular 1,958 73 8

Pride Academy At Prospect Avenue Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 21
7
GreatSchools Rating

Pride Academy At Prospect Avenue Elementary School

  • Education Level: Middle
  • # of students: 572
  • # of teachers: 21
7
GreatSchools Rating

West Hills High School

  • Education Level: High
  • # of students: 1,958
  • # of teachers: 73
8
GreatSchools Rating
 

$746,910$912,890$829,900

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$3,062
Property Tax -$800
Property Insurance -$77
HOA -$30
Property Management Fees -$129
CASH FLOW
-$1,288

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.

$829,900

PROJECTED PRICE

$2,810

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.01%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,674

INVESTMENT

$225,674

Down Payment
$207,475
Rehab Estimate
$5,750
Closing Costs
$12,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,475
Loan Amount $622,425
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$511

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $2,789

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,810
1$2,8102$2,850
$2,850
RENT COMPS ANALYSIS
  • 2146 Furner St El Cajon, 1
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $1.41
    •  
  • 9433 Calle Del Lago Santee, 2
    • 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 1986
    property image
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.40
    •  
PROPERTY LISTING DETAILS
Dan Tomasi
1.858.344.3782
Douglas Elliman Of California
BESbswy