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220 Via Del Cerrito Encinitas, CA 92024

4 Beds 4 Baths 3,049 sqft Built 1992

INVESTimate

$1,870,000

List Price

$5,180

$4,930 - $5,430

Rent Est.

$1,999,778  ( +6.94%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $613.32
  • 7 Days on Market
  • MLS # : 200040237
  • Updated Date : 08/23/2020 at 16:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,049 sqft
  • Baths : 3 full , 1 half
Listing Agent

Seabreeze Coastal Properties

Listing Agent's Description

One-of-a-kind Olivenhain garden paradise awaits you here! Custom-built, single-level home in mint condition. Tucked away on private road on sprawling, level, private, pool size, corner lot. 4BR, 3.5 BA, open floor plan with formal living, dining and family rooms with garden views. Sun-drenched, spacious kitchen with eat-in dining space, desk/pc nook, wine refrige. Low-maintenance, Xeriscape water-wise garden with fruit trees. 3-car garage. OPE School Dist. Move-in-ready today! No HOA fees.

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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: Encinitas

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $240k1064k

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

Neighborhood: Encinitas

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $16274397

* 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
Park Dale Lane Elementary School Primary Regular 536 23 6
Oak Crest Middle School Middle Regular 852 36 8
La Costa Canyon High School High Regular 2,013 79 9

Park Dale Lane Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 23
6
GreatSchools Rating

Oak Crest Middle School

  • Education Level: Middle
  • # of students: 852
  • # of teachers: 36
8
GreatSchools Rating

La Costa Canyon High School

  • Education Level: High
  • # of students: 2,013
  • # of teachers: 79
9
GreatSchools Rating
 

$1,683,000$2,057,000$1,870,000

PURCHASE PRICE

$4,662$5,698$5,180

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$50k-$40k-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,180
EXPENSES Loan Payment -$6,899
Property Tax -$1,701
Property Insurance -$104
Property Management Fees -$129
CASH FLOW
-$3,653

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.

$1,870,000

PROJECTED PRICE

$5,180

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.94%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$501,300

INVESTMENT

$501,300

Down Payment
$467,500
Rehab Estimate
$5,750
Closing Costs
$28,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$6,899

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $467,500
Loan Amount $1,402,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$146

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
  • $5,641

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,8003$5,7004$6,500
$6,500
RENT COMPS ANALYSIS
  • 220 Via Del Cerrito Encinitas, 1
    • 4 beds 4 baths ∙ 3,049 Sqft ∙ Built 1992 4 beds 4 baths ∙ 3,049 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2941 Avenida Castana Carlsbad, 2
    • 3 beds 4 baths ∙ 2,797 Sqft ∙ Built 2000 3 beds 4 baths ∙ 2,797 Sqft ∙ Built 2000
    LEASED 04/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $1.72
    •  
  • 2406 La Macarena Ave Carlsbad, 3
    • 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1987 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1987
    LEASED 03/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,700
    • $1.78
    •  
  • 627 Alex Way Encinitas, 4
    • 4 beds 4 baths ∙ 3,176 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,176 Sqft ∙ Built 2003
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,500
    • $2.05
    •  
PROPERTY LISTING DETAILS
Elena Thompson
1.760.822.3873
Seabreeze Coastal Properties
BESbswy