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23915 Berryessa Ct Ramona, CA 92065

3 Beds 2 Baths 1,769 sqft Built 1990

$639,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $361.22
  • 2 Days on Market
  • MLS # : 210001332
  • Updated Date : 01/16/2021 at 19:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,769 sqft
  • Baths : 2 full
Listing Agent

The Home Team

Listing Agent's Description

Welcome Home! Beautiful 3bed/2bath single story on a quiet Cul-de-sac in SDCE. Enjoy life while relaxing in the pool and spa. Great for entertaining with very open floorplan and terraced patios. Updated lighting, HVAC, Windows, kitchen and baths make this home move-in ready. Leased solar system keeps energy bills low. Lease is $183 monthly. Open galley kitchen includes granite counters and stainless steel appliances. Tile & laminate floors throughout the home. Fresh eggs from the chicken coup! Come Enjoy!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: San Diego Country Estates

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $240k746k

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

Neighborhood: San Diego Country Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15283384

* 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
Barnett Elementary School Primary Regular 488 17 6
Barnett Elementary School Middle Regular 488 17 6
Ramona High School High Regular 1,689 63 7

Barnett Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 17
6
GreatSchools Rating

Barnett Elementary School

  • Education Level: Middle
  • # of students: 488
  • # of teachers: 17
6
GreatSchools Rating

Ramona High School

  • Education Level: High
  • # of students: 1,689
  • # of teachers: 63
7
GreatSchools Rating
 

$575,100$702,900$639,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,219
Property Tax -$685
Property Insurance -$72
HOA -$124
Property Management Fees -$129
CASH FLOW
-$600

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.

$639,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.5%
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$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$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,219

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$7,616

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $2,707

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,630
1$2,6302$2,750
$2,750
RENT COMPS ANALYSIS
  • 23915 Berryessa Ct Ramona, CA 1
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.49
    •  
  • 24420 Del Amo Rd Ramona, CA 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1989
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.53
    •  
PROPERTY LISTING DETAILS
Jon Erro
1.760.525.8690
The Home Team
BESbswy