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468 Borden Circle San Marcos, CA 92069

4 Beds 2 Baths 1,479 sqft Built 1979

$639,900

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $432.66
  • 5 Days on Market
  • MLS # : 200050389
  • Updated Date : 10/31/2020 at 22:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,479 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Carmel Valley

Listing Agent's Description

Don't miss this STUNNING QUALITY REMODEL for your wonderful family to enjoy! Single level 4 bedroom home on oversized, PRIVATE lot, complete with new kitchen, new flooring, new electrical and plumbing fixtures, new water heater, RV PARKING, extra space with VIEWS in back for pool/entertainment area, ?? Nestled in the hills with view from front and back. No one behind you and boasts a .34 acre lot! Too much to list, please hurry to come and view this spectacular home!

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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: 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
 

$575,910$703,890$639,900

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,361
Property Tax -$592
Property Insurance -$64
Property Management Fees -$129
CASH FLOW
-$246

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.

$639,900

PROJECTED PRICE

$2,900

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.6%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,324

INVESTMENT

$175,324

Down Payment
$159,975
Rehab Estimate
$5,750
Closing Costs
$9,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $159,975
Loan Amount $479,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$43,418

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $2,973

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,9003$3,200
$3,200
RENT COMPS ANALYSIS
  • 468 Borden Circle San Marcos, CA 2
    • 4 beds 2 baths ∙ 1,479 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,479 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.96
    •  
  • 432 Placer Ave San Marcos, CA 1
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1986
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.15
    •  
  • 801 River Run Cir San Marcos, CA 3
    • 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1999
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.87
    •  
PROPERTY LISTING DETAILS
Libby Rogers
1.619.203.6597
Keller Williams Carmel Valley
BESbswy