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2727 Athens Avenue Carlsbad, CA 92010

3 Beds 3 Baths 1,722 sqft Built 1979

INVESTimate

$889,000

List Price

$3,050

$2,800 - $3,300

Rent Est.

$940,384  ( +5.78%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $516.26
  • 6 Days on Market
  • MLS # : 200040478
  • Updated Date : 08/22/2020 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,722 sqft
  • Baths : 2 full , 1 half
Listing Agent

Helvetica Servicing, Inc

Listing Agent's Description

WELCOME HOME! NO HOA & NO MELLO-ROOS. Beautifully updated 3 Bedroom/2.5 bath-turnkey home, with 2 car garage and RV parking. Located in highly sought after neighborhood in Tamarack Point. Easy access to highly rated schools, dog parks, hiking trails, shopping and the beach. This charming home was renovated in 2013, truly is an entertainer's delight.

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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: Tamarack Point

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $240k892k

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

Neighborhood: Tamarack Point

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16273922

* 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
Hope Elementary School Primary Regular 619 22 9
Calavera Hills Middle School Middle Regular 458 18 7
Carlsbad High School High Regular 2,685 101 9

Hope Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 22
9
GreatSchools Rating

Calavera Hills Middle School

  • Education Level: Middle
  • # of students: 458
  • # of teachers: 18
7
GreatSchools Rating

Carlsbad High School

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

$800,100$977,900$889,000

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$3,280
Property Tax -$798
Property Insurance -$71
Property Management Fees -$129
CASH FLOW
-$1,227

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.

$889,000

PROJECTED PRICE

$3,050

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.78%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$241,335

INVESTMENT

$241,335

Down Payment
$222,250
Rehab Estimate
$5,750
Closing Costs
$13,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,280

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $222,250
Loan Amount $666,750
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,987

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
  • $3,177

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1003$3,1994$3,2005$3,295
$3,295
RENT COMPS ANALYSIS
  • 2727 Athens Avenue Carlsbad, 1
    • 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2968 Lexington Circle Carlsbad, 2
    • 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 1984
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.80
    •  
  • 2986 Ridgefield Carlsbad, 3
    • 4 beds 3 baths ∙ 1,906 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,906 Sqft ∙ Built 1984
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,199
    • $1.68
    •  
  • 2892 Lancaster Carlsbad, 4
    • 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 1984
    LEASED 04/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.86
    •  
  • 4315 La Portalada Dr Carlsbad, 5
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1976
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.04
    •  
PROPERTY LISTING DETAILS
Chad Mestler
1.760.607.5400
Helvetica Servicing, Inc
BESbswy