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PROPERTY INFO
FACTS
- Single Family
- Built In 1967
- Price/Sqft : $362.85
- 4 Days on Market
- MLS # : 210001778
- Updated Date : 01/22/2021 at 19:51
CONSTRUCTION
- Beds : 4
- Floor Size : 2,202 sqft
- Baths : 3 full
Listing Agent
Palisade Realty, Inc
Listing Agent's Description
Must See Gorgeous 4 Bedroom 3 Bath Remodeled Home w/ Over 2200 SF of Living Space on 9606 SF Lot! No Detail Left Untouched! Light & Bright Throughout. Gourmet Open Kitchen w/ Quartz Counters & Stainless Appliances. Open concept Living Room w/ Fire Place, Large Family Room w/ Bathroom leading to Backyard/Pool Area. Large Private Master Bedroom Located Upstairs w/ Views of Pool. Remaining 3 Bedrooms Downstairs w/ One Having Attached Full Bathroom! Owned Solar Panels. See Supplement For More Upgrades
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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: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,280 |
| EXPENSES | Loan Payment | -$2,775 |
| Property Tax | -$870 | |
| Property Insurance | -$83 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$577
|
||
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.
$799,000
PROJECTED PRICE
$3,280
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 8.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.80% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$217,485
LOAN DETAILS
$2,775
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $199,750 |
| Loan Amount | $599,250 |
3.25
YEARS SAVED
$20,721
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$3,567
COMP ESTIMATED VALUE -
$1.62
COMP AVG. RENT PER SQFT
Comps Range
-
3418 Kenora Drive Spring Valley, CA 1
- 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1967
![property image]()
- Rent
- Rent Per SQFT
- $0
- $0.00
-
3705 Avenida Johanna La Mesa, CA 2
- 4 beds 3 baths ∙ 1,856 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,856 Sqft ∙ Built 1979
![property image]()
LEASED 05/26/20- Rent
- Rent Per SQFT
- $3,195
- $1.72
-
9324 Carmichael Dr La Mesa, CA 3
- 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1957 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1957
![property image]()
LEASED 11/18/19- Rent
- Rent Per SQFT
- $3,500
- $1.52
PROPERTY LISTING DETAILS
1.619.719.7768
Palisade Realty, Inc
