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2784 Lakeview Dr. Julian, CA 92036

3 Beds 2 Baths 1,600 sqft Built 1973

$649,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1973
  • Price/Sqft : $405.63
  • 12 Days on Market
  • MLS # : 200050421
  • Updated Date : 11/01/2020 at 18:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Orchard Realty, Inc.

Listing Agent's Description

This charming 3BR, 2BA, home built in 1973, has is nestled in one of Julian's most family-friendly neighborhoods. It boasts 16' vaulted cedar ceilings, a wood burning stove, an attached greenhouse/Jacuzzi room, a cozy gazebo covered patio, and an attached garage with plenty of storage space. Detached 2-car garage has a workshop & darkroom. Both the house and garage have been retrofitted with rooftop sprinkler system for fire safety/prevention. Includes an additional parcel w/ water meter. A must see.

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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

Zip Code: 92036

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $160k594k

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

Zip Code: 92036

ZipNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $10932885

* 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
Julian Elementary School Primary Regular 200 9 4
Julian Junior High School Middle Regular 109 5 5
Julian High School High Regular 153 9 8

Julian Elementary School

  • Education Level: Primary
  • # of students: 200
  • # of teachers: 9
4
GreatSchools Rating

Julian Junior High School

  • Education Level: Middle
  • # of students: 109
  • # of teachers: 5
5
GreatSchools Rating

Julian High School

  • Education Level: High
  • # of students: 153
  • # of teachers: 9
8
GreatSchools Rating
 

$584,100$713,900$649,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$2,395
Property Tax -$601
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$1,162

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.

$649,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.6%
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-$15k-$10k-$5.0k$0.0$5.0k

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$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$76

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,680

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,030
$2,030
RENT COMPS ANALYSIS
  • 2784 Lakeview Dr. Julian, CA 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.27
    •  
  • 813 Woodlawn Drive Julian, CA 1
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1979
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
PROPERTY LISTING DETAILS
Deborah Kerch
1.760.579.3716
Orchard Realty, Inc.
BESbswy