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4193 Panorama Dr La Mesa, CA 91941

4 Beds 3 Baths 2,169 sqft Built 1994

$800,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $368.83
  • 7 Days on Market
  • MLS # : 200051130
  • Updated Date : 11/10/2020 at 03:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,169 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Situated on a huge, hillside lot, this expansive home is complete w/ a family room that's perfect for entertaining. The 0.35 acre lot ensures there's plenty of room for parking, RV space & possible ADU or second home addition. The home is close to major freeways yet is tucked away on the hillside hidden behind large, mature trees. Lots of fruit trees await as well as large spaces for gardening. Updated granite countertops in the kitchen, skylights in the family room, walk in closet in the master & more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Casa de Oro - Mount Helix

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650kPrice in $222k682k

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

Neighborhood: Casa de Oro - Mount Helix

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $15143140

* 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
Glen E Murdock Elementary School Primary Regular 730 24 9
Glen E Murdock Elementary School Middle Regular 730 24 9
Monte Vista High School High Regular 1,657 76 7

Glen E Murdock Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 24
9
GreatSchools Rating

Glen E Murdock Elementary School

  • Education Level: Middle
  • # of students: 730
  • # of teachers: 24
9
GreatSchools Rating

Monte Vista High School

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

$720,000$880,000$800,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$2,952
Property Tax -$832
Property Insurance -$82
Property Management Fees -$129
CASH FLOW
-$595

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.

$800,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $200,000
Loan Amount $600,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$27,188

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
  • $3,774

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,750
$3,750
RENT COMPS ANALYSIS
  • 4193 Panorama Dr La Mesa, CA 1
    • 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9307 Diane Ave Spring Valley, CA 2
    • 5 beds 2 baths ∙ 2,155 Sqft ∙ Built 1997 5 beds 2 baths ∙ 2,155 Sqft ∙ Built 1997
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.74
    •  
PROPERTY LISTING DETAILS
Adam Sussely-house
1.858.774.2726
Exp Realty Of California Inc
BESbswy