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3002 Corte Baldre Carlsbad, CA 92009

5 Beds 5 Baths 3,255 sqft Built 2000

$1,399,000

List Price

$5,550

$5.3K - $5.8K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $429.80
  • 3 Days on Market
  • MLS # : 200054911
  • Updated Date : 01/03/2021 at 01:20
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,255 sqft
  • Baths : 4 full , 1 half
Listing Agent

Homesmart Realty West

Listing Agent's Description

South facing house in the very desirable La Costa Valley Community. Large quarter acre corner lot. Owner never lived in this property. One family of three rented and lived in this house close to 20 years. Tenants moved out in Dec. 2020. Carlsbad is a wonderful city to live in and bring up children. House is not far from the ocean. Needs a little TLC. Do not go on the balcony, it's not safe.

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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: Rancho la Costa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $240k892k

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

Neighborhood: Rancho la Costa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $16274026

* 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
El Camino Creek Elementary School Primary Regular 705 27 9
El Camino Creek Elementary School Middle Regular 705 27 9
La Costa Canyon High School High Regular 2,013 79 9

El Camino Creek Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 27
9
GreatSchools Rating

El Camino Creek Elementary School

  • Education Level: Middle
  • # of students: 705
  • # of teachers: 27
9
GreatSchools Rating

La Costa Canyon High School

  • Education Level: High
  • # of students: 2,013
  • # of teachers: 79
9
GreatSchools Rating
 

$1,259,100$1,538,900$1,399,000

PURCHASE PRICE

$4,995$6,105$5,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,550
EXPENSES Loan Payment -$5,162
Property Tax -$1,356
Property Insurance -$109
HOA -$125
Property Management Fees -$129
CASH FLOW
-$1,331

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.

$1,399,000

PROJECTED PRICE

$5,550

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.6%
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-$20k-$10k$0.0$10k$20k$30k$40k

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$376,485

INVESTMENT

$376,485

Down Payment
$349,750
Rehab Estimate
$5,750
Closing Costs
$20,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,750
Loan Amount $1,049,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$23,842

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
  • $5,968

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,8003$5,1004$8,250
$8,250
RENT COMPS ANALYSIS
  • 3002 Corte Baldre Carlsbad, CA 1
    • 5 beds 5 baths ∙ 3,255 Sqft ∙ Built 2000 5 beds 5 baths ∙ 3,255 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7886 Sitio Abeto Carlsbad, CA 2
    • 4 beds 4 baths ∙ 2,921 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,921 Sqft ∙ Built 2002
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $1.64
    •  
  • 7294 Sitio Lirio Carlsbad, CA 3
    • 4 beds 4 baths ∙ 3,489 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,489 Sqft ∙ Built 2005
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,100
    • $1.46
    •  
  • 3022 Camino Del Rancho Encinitas, CA 4
    • 4 beds 3 baths ∙ 3,432 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,432 Sqft ∙ Built 1988
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $8,250
    • $2.40
    •  
PROPERTY LISTING DETAILS
Roger Lee
1.760.607.5900
Homesmart Realty West
BESbswy