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344 Cerro St Encinitas, CA 92024

4 Beds 3 Baths 2,175 sqft Built 1975

$1,150,000

List Price

$4,350

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $528.74
  • 5 Days on Market
  • MLS # : 210004770
  • Updated Date : 02/28/2021 at 03:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,175 sqft
  • Baths : 3 full
Listing Agent

Glasshouse Properties

Listing Agent's Description

Encinitas Paradise! The home you've been looking for awaits you in this sunny Encinitas Estates neighborhood.Take advantage of the fully paid-for solar system to enjoy the heated pool and spa year-round! This spacious home has newer dual-pane windows, a newer water heater, and a newer tile roof. It boasts a 3 car garage and a huge attic storage space. This home is in a highly desirable neighborhood, yet close to all the shopping on El Camino Real and easy freeway access. Bring your personal touches to customize your dream in this idyllic coastal community. Please email andreaaltona@gmail.com or call 760-402-2485 with questions or for showing.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Olivenhain

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $240k1055k

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

Neighborhood: Olivenhain

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $16274241

* 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
Oak Crest Middle School Middle Regular 852 36 8
La Costa Canyon High School High Regular 2,013 79 9

Oak Crest Middle School

  • Education Level: Middle
  • # of students: 852
  • # of teachers: 36
8
GreatSchools Rating

La Costa Canyon High School

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

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,915$4,785$4,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,350
EXPENSES Loan Payment -$3,994
Property Tax -$1,097
Property Insurance -$82
Property Management Fees -$129
CASH FLOW
-$952

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.

$1,150,000

PROJECTED PRICE

$4,350

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,994

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$20,422

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $4,350

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $4,974

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,3503$5,3004$6,000
$6,000
RENT COMPS ANALYSIS
  • 344 Cerro St Encinitas, CA 2
    • 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $2.00
    •  
  • 285 Via Palacio Encinitas, CA 1
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1984
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.15
    •  
  • 1548 Calle Violetas Encinitas, CA 3
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 1977
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,300
    • $2.32
    •  
  • 2142 Edinburg Ave Cardiff By The Sea, CA 4
    • 3 beds 3 baths ∙ 2,506 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,506 Sqft ∙ Built 1989
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $2.39
    •  
PROPERTY LISTING DETAILS
Andrea Altona
1.760.402.2485
Glasshouse Properties
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210004770
Last Updated: 02/28/2021
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