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2158 Merlyn Pl El Cajon, CA 92019

3 Beds 2 Baths 1,784 sqft Built 1981

$724,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $405.83
  • 8 Days on Market
  • MLS # : 200054382
  • Updated Date : 12/26/2020 at 21:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,784 sqft
  • Baths : 2 full
Listing Agent

Onpoint San Diego Realty

Listing Agent's Description

Single level home, Double Door Entry, open floor plan, vaulted ceilings, with top of line appliances, breakfast counter, Formal dinning room, Newer carpet, large Bedrooms, Newer bathrooms fully tile with Granite counters (Large), 3 Car garage, 2 Patios, Beautifully landscaped. 50 Year roof, front and back yard views of rolling hills and city lights, 3rd car garage converted. One of the most desirable Neighborhoods. Top Schools, Showings Start 12/09/2020

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: Rancho San Diego

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $222k746k

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

Neighborhood: Rancho San Diego

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15343384

* 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
Vista Grande Elementary School Primary Regular 590 23 8
Hillsdale Middle School Middle Regular 1,502 59 7
Valhalla High School High Regular 2,129 77 8

Vista Grande Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 23
8
GreatSchools Rating

Hillsdale Middle School

  • Education Level: Middle
  • # of students: 1,502
  • # of teachers: 59
7
GreatSchools Rating

Valhalla High School

  • Education Level: High
  • # of students: 2,129
  • # of teachers: 77
8
GreatSchools Rating
 

$651,600$796,400$724,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$2,671
Property Tax -$755
Property Insurance -$72
Property Management Fees -$129
CASH FLOW
-$617

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.

$724,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.3%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$197,610

INVESTMENT

$197,610

Down Payment
$181,000
Rehab Estimate
$5,750
Closing Costs
$10,860

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,671

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,000
Loan Amount $543,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$17,152

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
  • $3,390

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,300
$3,300
RENT COMPS ANALYSIS
  • 2158 Merlyn Pl El Cajon, CA 1
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1850 Sea Pines Rd El Cajon, CA 2
    • 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 1987
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.90
    •  
PROPERTY LISTING DETAILS
Soraya Pizzey
1.619.616.6455
Onpoint San Diego Realty
BESbswy