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

410 Richland Rd San Marcos, CA 92069

3 Beds 2 Baths 1,344 sqft Built 1973

INVESTimate

$529,000

List Price

$2,490

$2,241 - $2,739

Rent Est.

$558,836  ( +5.64%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1973
  • Price/Sqft : $393.60
  • 15 Days on Market
  • MLS # : 200038796
  • Updated Date : 08/21/2020 at 15:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This delightful starter home provides country style and warmth in a basic three-bedroom plan. With a large, flat lot, there is room for expansion as well as parking your RV, boat or other adult toys you may have. Walking into this farmhouse setting you are greeted by an ample living room w/ space for dining, leading into the kitchen. In its original state, the kitchen has good counter space, country charm cabinets and enough room to create your dream cooking space.

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: San Marcos

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $223k599k

* 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
Richland Elementary School Primary Regular 850 32 7
Woodland Park Middle School Middle Regular 1,305 44 6
Mission Hills High School High Regular 2,530 91 8

Richland Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 32
7
GreatSchools Rating

Woodland Park Middle School

  • Education Level: Middle
  • # of students: 1,305
  • # of teachers: 44
6
GreatSchools Rating

Mission Hills High School

  • Education Level: High
  • # of students: 2,530
  • # of teachers: 91
8
GreatSchools Rating
 

$476,100$581,900$529,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,952
Property Tax -$489
Property Insurance -$61
Property Management Fees -$129
CASH FLOW
-$141

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.

$529,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.64%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,935

INVESTMENT

$145,935

Down Payment
$132,250
Rehab Estimate
$5,750
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$42,625

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $2,500

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,700
$2,700
RENT COMPS ANALYSIS
  • 410 Richland Rd San Marcos, 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.85
    •  
  • 1506 Indian Summer Ct. San Marcos, 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.86
    •  
PROPERTY LISTING DETAILS
Bonnie Maloney
1.760.613.6889
Keller Williams Realty
BESbswy