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2244 Casa Alta Spring Valley, CA 91977

4 Beds 2 Baths 1,720 sqft Built 1976

$659,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $383.14
  • 4 Days on Market
  • MLS # : 210006995
  • Updated Date : 03/20/2021 at 22:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,720 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

AH! Home Sweet Home! This BEAUTIFUL single story home, nestled on a cul-de-sac on a sizable lot w/ serene mountain views is sure to CAPTIVATE you from the moment you enter the delightful courtyard and through the gorgeous front beveled-glass doors. The bright open floor plan, updated interior w/vaulted ceilings and a soft monochromatic palette is brimming with character & charm. Newly installed laminate wood flooring graces most living spaces and is complemented by the earthy terra cotta tones of the Saltillo tile. The kitchen shines bright w/new Quartz countertops, new appliances & the most gorgeous designer tile flooring! *See supplement for add'l info...

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $201k594k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13612885

* 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
Spring Valley Middle School Middle Regular 506 22 3
Monte Vista High School High Regular 1,657 76 7
Monte Vista High School High Unknown NA

Spring Valley Middle School

  • Education Level: Middle
  • # of students: 506
  • # of teachers: 22
3
GreatSchools Rating

Monte Vista High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 76
7
GreatSchools Rating

Monte Vista High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$593,100$724,900$659,000

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,289
Property Tax -$724
Property Insurance -$70
HOA -$135
Property Management Fees -$129
CASH FLOW
-$527

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.

$659,000

PROJECTED PRICE

$2,820

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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

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$180,385

INVESTMENT

$180,385

Down Payment
$164,750
Rehab Estimate
$5,750
Closing Costs
$9,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,289

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $164,750
Loan Amount $494,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$13,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.64

    LIST RENT PER SQFT
  • $3,001

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5753$2,8204$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 2244 Casa Alta Spring Valley, CA 3
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.64
    •  
  • 2390 Bar Bit Rd Spring Valley, CA 1
    • 4 beds 2 baths ∙ 1,445 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,445 Sqft ∙ Built 1974
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.73
    •  
  • 3799 Kenwood Ct Spring Valley, CA 2
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1987
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $1.74
    •  
  • 10331 Moorpark St Spring Valley, CA 4
    • 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 1980
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.77
    •  
  • 10008 Ledgeside St Spring Valley, CA 5
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1976
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
PROPERTY LISTING DETAILS
Cathy Palme
1.619.200.7518
Berkshire Hathaway Homeservice
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210006995
Last Updated: 03/20/2021
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