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2365 Mica Road Carlsbad, CA 92009

3 Beds 4 Baths 3,688 sqft Built 2012

$1,599,000

List Price

$5,180

$4.9K - $5.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $433.57
  • 3 Days on Market
  • MLS # : 210005815
  • Updated Date : 03/05/2021 at 23:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,688 sqft
  • Baths : 3 full , 1 half
Listing Agent

Corcoran Global Living

Listing Agent's Description

Stunning La Costa Greens Estate with open southerly views! Perfect location next to small neighborhood park and only one neighbor for incredible privacy! Lovingly maintained by its original owners, this home offers a flexible floorplan perfect for working at home w a huge family room, large gourmet kitchen, formal living room, dining room, downstairs office, optional 4th bedroom/loft, and master retreat. This home surrounds you with elegance with its highly upgraded interior and Tuscan exterior. Enjoy outdoor living in the cozy side courtyard w CA room w outdoor fireplace and dining area. The large spacious rear patio w firepit has plenty of room to relax and enjoy the beautiful views & sunsets.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: La Costa Greens

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $240k1224k

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

Neighborhood: La Costa Greens

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000250030003500400045005000Rent in $16275479

* 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
Poinsettia Elementary School Primary Regular 552 20 7
Aviara Oaks Middle School Middle Regular 1,093 37 9
Carlsbad High School High Regular 2,685 101 9

Poinsettia Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 20
7
GreatSchools Rating

Aviara Oaks Middle School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 37
9
GreatSchools Rating

Carlsbad High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 101
9
GreatSchools Rating
 

$1,439,100$1,758,900$1,599,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,180
EXPENSES Loan Payment -$5,554
Property Tax -$1,625
Property Insurance -$120
HOA -$219
Property Management Fees -$129
CASH FLOW
-$2,466

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.

$1,599,000

PROJECTED PRICE

$5,180

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.4%
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$2.5M$3.0M$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$429,485

INVESTMENT

$429,485

Down Payment
$399,750
Rehab Estimate
$5,750
Closing Costs
$23,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,554

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $399,750
Loan Amount $1,199,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$172

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
  • $5,680

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,750
$5,750
RENT COMPS ANALYSIS
  • 2365 Mica Road Carlsbad, CA 1
    • 3 beds 4 baths ∙ 3,688 Sqft ∙ Built 2012 3 beds 4 baths ∙ 3,688 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6258 Paseo Elegancia Carlsbad, CA 2
    • 4 beds 4 baths ∙ 3,743 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,743 Sqft ∙ Built 2001
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,750
    • $1.54
    •  
PROPERTY LISTING DETAILS
Amy Cook
1.858.414.7962
Corcoran Global Living
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005815
Last Updated: 03/05/2021
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