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2890 Rancho Cortes Carlsbad, CA 92009

4 Beds 5 Baths 3,758 sqft Built 2003

$1,495,000

List Price

$5,600

$5.4K - $5.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $397.82
  • 6 Days on Market
  • MLS # : 200050280
  • Updated Date : 10/31/2020 at 23:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,758 sqft
  • Baths : 4 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Breathtaking VIEWS, amazing location and great floor plan make this Rancho Carrillo home a must see. As you approach the private front entry way, you will notice all of the custom hardscape and attention to detail. Once you enter this masterpiece, you will be immersed into the rich Tuscan inspired design with dark faux wood beams, tile floor inlays, custom stenciling up the iron staircase, solid wood cabinets, huge master bedroom w/retreat. Back yard and courtyard are perfect for entertaining too.

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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

Neighborhood: Rancho Carillo

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $240k892k

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

Neighborhood: Rancho Carillo

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16273971

* 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
Carrillo Elementary School Primary Regular 1,058 40 9
San Elijo Middle School Middle Regular 1,850 61 9
San Marcos High School High Regular 2,776 101 9

Carrillo Elementary School

  • Education Level: Primary
  • # of students: 1,058
  • # of teachers: 40
9
GreatSchools Rating

San Elijo Middle School

  • Education Level: Middle
  • # of students: 1,850
  • # of teachers: 61
9
GreatSchools Rating

San Marcos High School

  • Education Level: High
  • # of students: 2,776
  • # of teachers: 101
9
GreatSchools Rating
 

$1,345,500$1,644,500$1,495,000

PURCHASE PRICE

$5,040$6,160$5,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,600
EXPENSES Loan Payment -$5,516
Property Tax -$1,718
Property Insurance -$122
HOA -$107
Property Management Fees -$129
CASH FLOW
-$1,991

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.

$1,495,000

PROJECTED PRICE

$5,600

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.7%
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

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$401,925

INVESTMENT

$401,925

Down Payment
$373,750
Rehab Estimate
$5,750
Closing Costs
$22,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,516

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $373,750
Loan Amount $1,121,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$3,646

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
  • $6,514

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,7503$6,2504$7,000
$7,000
RENT COMPS ANALYSIS
  • 2890 Rancho Cortes Carlsbad, CA 1
    • 4 beds 5 baths ∙ 3,758 Sqft ∙ Built 2003 4 beds 5 baths ∙ 3,758 Sqft ∙ Built 2003
    • 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
    •  
  • 3218 Sitio Oceano Carlsbad, CA 3
    • 4 beds 5 baths ∙ 3,641 Sqft ∙ Built 2009 4 beds 5 baths ∙ 3,641 Sqft ∙ Built 2009
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,250
    • $1.72
    •  
  • 7293 Calle Conifera Carlsbad, CA 4
    • 5 beds 6 baths ∙ 3,610 Sqft ∙ Built 2005 5 beds 6 baths ∙ 3,610 Sqft ∙ Built 2005
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $7,000
    • $1.94
    •  
PROPERTY LISTING DETAILS
Darin Charp
1.858.395.1009
Compass
BESbswy