Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3346 Elmwood St. San Marcos, CA 92078

3 Beds 3 Baths 1,646 sqft Built 1996

$699,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $424.67
  • 5 Days on Market
  • MLS # : 200051382
  • Updated Date : 11/13/2020 at 22:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,646 sqft
  • Baths : 2 full , 1 half
Listing Agent

Farwest Realty Inc

Listing Agent's Description

Welcome to Mayberry! Quintessential California living at it's finest occupying the BEST lot and location in the neighborhood. End of the street, ample guest parking with Large parcel and park like setting. House is completely upgraded with New kitchen cabinets and Vanities topped with Quartz Counters, SS Appliances, Laminate wood flooring and new carpet upstairs. Relax in the shaded, private, over-sized backyard next to the fire pit. Just minutes from trendy Bressi Ranch Promenade and Freeways.

SEE MORE

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: San Marcos

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $223k636k

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

Neighborhood: San Marcos

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000250030003500400045005000Rent in $15145208

* 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
Alvin Dunn Elementary School Primary Regular 760 32 4
San Marcos Middle School Middle Regular 1,331 48 5
San Marcos High School High Regular 2,776 101 9

Alvin Dunn Elementary School

  • Education Level: Primary
  • # of students: 760
  • # of teachers: 32
4
GreatSchools Rating

San Marcos Middle School

  • Education Level: Middle
  • # of students: 1,331
  • # of teachers: 48
5
GreatSchools Rating

San Marcos High School

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

$629,100$768,900$699,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,579
Property Tax -$685
Property Insurance -$69
HOA -$80
Property Management Fees -$129
CASH FLOW
-$692

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.

$699,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.6%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$12,229

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
  • $3,111

    COMP ESTIMATED VALUE
  • $1.89

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7453$2,8004$2,8755$2,895
$2,895
RENT COMPS ANALYSIS
  • 3346 Elmwood St. San Marcos, CA 1
    • 3 beds 3 baths ∙ 1,646 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,646 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6108 Citracado Cir Carlsbad, CA 2
    • 3 beds 3 baths ∙ 1,445 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,445 Sqft ∙ Built 2001
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,745
    • $1.90
    •  
  • 1646 Waterlily Way San Marcos, CA 3
    • 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 2014
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.93
    •  
  • 6095 Paseo Carreta Carlsbad, CA 4
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2000
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $1.80
    •  
  • 6540 Calle Valperizo Carlsbad, CA 5
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1983
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.93
    •  
PROPERTY LISTING DETAILS
Jason Singleton
1.619.964.6575
Farwest Realty Inc
BESbswy