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2150 Rebecca Way Lemon Grove, CA 91945

3 Beds 3 Baths 1,507 sqft Built 1991

$599,900

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $398.08
  • 13 Days on Market
  • MLS # : 210001836
  • Updated Date : 01/24/2021 at 01:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,507 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Sd Metro

Listing Agent's Description

Will Sell Fast. Act now! Beautiful & Highly Desirable home located in quiet Cul de Sac. This property features newer dual paned windows, sliding glass doors & blinds. Brand new water heater! Newer A/C, just serviced. Attractive and easy to manage turf in back yard. Recently remodeled baths/flooring. Ceiling fans in every room.Walk-in pantry. Washer and Dryer+ 2 car garage w/custom shelving. Home security system wiring installed, only need to order ADT (Approx. $50 per mo.)

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: Lemon Grove

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Lemon Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12812885

* 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
Bancroft Elementary School Primary Regular 652 21 2
La Presa Middle School Middle Regular 530 17 4
Mount Miguel High School High Regular 1,483 68 4

Bancroft Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 21
2
GreatSchools Rating

La Presa Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 17
4
GreatSchools Rating

Mount Miguel High School

  • Education Level: High
  • # of students: 1,483
  • # of teachers: 68
4
GreatSchools Rating
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,084
Property Tax -$738
Property Insurance -$65
HOA -$150
Property Management Fees -$129
CASH FLOW
-$616

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.

$599,900

PROJECTED PRICE

$2,550

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,263

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
  • $2,562

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4453$2,795
$2,795
RENT COMPS ANALYSIS
  • 2150 Rebecca Way Lemon Grove, CA 1
    • 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9115 Valencia St. Spring Valley, CA 2
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 1981
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $1.69
    •  
  • 7508 Easthill Dr San Diego, CA 3
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.71
    •  
PROPERTY LISTING DETAILS
Karla Kiernan
1.619.800.8636
Keller Williams Sd Metro
BESbswy