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3418 Kenora Drive Spring Valley, CA 91977

4 Beds 3 Baths 2,202 sqft Built 1967

$799,000

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
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

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $201k594k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13612885

* 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
Highlands Elementary School Primary Regular 512 19 4
Highlands Elementary School Middle Regular 512 19 4
Monte Vista High School High Regular 1,657 76 7

Highlands Elementary School

  • Education Level: Primary
  • # of students: 512
  • # of teachers: 19
4
GreatSchools Rating

Highlands Elementary School

  • Education Level: Middle
  • # of students: 512
  • # of teachers: 19
4
GreatSchools Rating

Monte Vista High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 76
7
GreatSchools Rating
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

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.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,567

    COMP ESTIMATED VALUE
  • $1.62

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1953$3,500
$3,500
RENT COMPS ANALYSIS
  • 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
Erika Wedemeyer
1.619.719.7768
Palisade Realty, Inc
BESbswy