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425 Garfield Ave El Cajon, CA 92020

4 Beds 2 Baths 1,444 sqft Built 1950

INVESTimate

$575,000

List Price

$2,620

$2,370 - $2,870

Rent Est.

$609,270  ( +5.96%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1950
  • Price/Sqft : $398.20
  • 12 Days on Market
  • MLS # : 200039476
  • Updated Date : 08/25/2020 at 09:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,444 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful home, centrally located in the Fletcher Hills community with easy access to 125, 52 and 8 Fwy as well as shopping and dining. This home features an open concept kitchen with quartz counter-tops, large stainless steel sink and tons of storage. Natural light flows through the living room and dining room with views of Cowles Mountain. Updated bathrooms, recessed lighting, tankless water heater and dual pane windows. Bonus room perfect for home office, yoga room or home schooling.

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

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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,358$2,882$2,620

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$1.8M

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$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,122
Property Tax -$553
Property Insurance -$64
Property Management Fees -$129
CASH FLOW
-$247

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.

$575,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 5.96%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$35,421

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
  • $2,671

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4953$2,950
$2,950
RENT COMPS ANALYSIS
  • 425 Garfield Ave El Cajon, 1
    • 4 beds 2 baths ∙ 1,444 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,444 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6350 Severin Dr. La Mesa, 2
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1955
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.90
    •  
  • 7260 Cowles Mountain Blvd. San Diego, 3
    • 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1966
    LEASED 05/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.80
    •  
PROPERTY LISTING DETAILS
Stephanie Rivera
1.760.702.4693
Keller Williams Realty
BESbswy