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401 Silvery Ln El Cajon, CA 92020

3 Beds 2 Baths 1,488 sqft Built 1947

$579,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $389.11
  • 8 Days on Market
  • MLS # : 200051768
  • Updated Date : 11/17/2020 at 20:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,488 sqft
  • Baths : 2 full
Listing Agent

Mt. Helix Lifestyles R.e. Serv

Listing Agent's Description

CHARMING COLONIAL CORNER LOT HOME IN ROLLING HILLS, EL CAJON. FEATURES 3-BEDROOMS AND 2-BATH WITH BONUS FAMILY ROOM AND ATTACHED 2-CAR GARAGE WITH CARPORT AND RV/BOAT PARKING. UPGRADED KITCHEN WITH LARGE LIVING ROOM WITH NATURAL LIGHT AND FIREPLACE. HOME SITS BACK FROM ROAD AND HAS A COVERED BACKYARD PATIO WITH MATURE TREES. THIS IS A TRUST SALE AND HOME HAS TONS OF POTENTIAL TO DO A MINOR REMODEL OR POSSIBLY DO A MAJOR RENOVATION ON THIS LARGE MOSTLY FLAT LOT. CLOSE TO SCHOOL, LIBRARY, & SHOPPING.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 92020

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Zip Code: 92020

ZipNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
Fletcher Hills Elementary School Primary Regular 684 24 9
Fletcher Hills Elementary School Middle Regular 684 24 9
West Hills High School High Regular 1,958 73 8

Fletcher Hills Elementary School

  • Education Level: Primary
  • # of students: 684
  • # of teachers: 24
9
GreatSchools Rating

Fletcher Hills Elementary School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 24
9
GreatSchools Rating

West Hills High School

  • Education Level: High
  • # of students: 1,958
  • # of teachers: 73
8
GreatSchools Rating
 

$521,100$636,900$579,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,136
Property Tax -$557
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$487

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$579,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$15,473

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.61

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,400
$2,400
RENT COMPS ANALYSIS
  • 401 Silvery Ln El Cajon, CA
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.61
    •  
PROPERTY LISTING DETAILS
Jason Kardos
1.619.347.6337
Mt. Helix Lifestyles R.e. Serv
BESbswy