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

578 Carrie Circle San Marcos, CA 92069

2 Beds 1 Baths 1,079 sqft Built 1973

INVESTimate

$419,900

List Price

$2,010

$1,809 - $2,211

Rent Est.

$443,582  ( +5.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $389.16
  • 6 Days on Market
  • MLS # : 200040614
  • Updated Date : 08/23/2020 at 07:06
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,079 sqft
  • Baths : 1 full
Listing Agent

Snl Realty & Financial Service

Listing Agent's Description

Lowest price single family home in San Marcos. Twin home located on a quiet cul de sac. New roof with solar. New vinyl windows. New vinyl flooring throughout the house. Wood burning fireplace. Nice sized back yard with patio cover. Laundry room could be converted to half bath and still have the washer dryer as a stackable. Lots of options to really update this house with just taking down a couple of walls and opening up the whole living room dining room kitchen area.

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
Twin Oaks Elementary School Primary Regular 658 29 5
Woodland Park Middle School Middle Regular 1,305 44 6
Mission Hills High School High Regular 2,530 91 8

Twin Oaks Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 29
5
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
 

$377,910$461,890$419,900

PURCHASE PRICE

$1,809$2,211$2,010

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,549
Property Tax -$433
Property Insurance -$54
Property Management Fees -$129
CASH FLOW
-$155

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.

$419,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.48%

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$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,549

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$28,793

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
  • $2,158

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,9954$2,150
$2,150
RENT COMPS ANALYSIS
  • 578 Carrie Circle San Marcos, 1
    • 2 beds 1 baths ∙ 1,079 Sqft ∙ Built 1973 2 beds 1 baths ∙ 1,079 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 222 Woodland Pkwy #152 San Marcos, 2
    • 2 beds 2 baths ∙ 908 Sqft ∙ Built 1990 2 beds 2 baths ∙ 908 Sqft ∙ Built 1990
    property image
    LEASED 04/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.93
    •  
  • 217 Westlake Dr #6 San Marcos, 3
    • 2 beds 3 baths ∙ 913 Sqft ∙ Built 1987 2 beds 3 baths ∙ 913 Sqft ∙ Built 1987
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $2.19
    •  
  • 450 Borden San Marcos, 4
    • 2 beds 2 baths ∙ 1,146 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,146 Sqft ∙ Built 1980
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.88
    •  
PROPERTY LISTING DETAILS
Patrick Lucas
1.760.271.9705
Snl Realty & Financial Service
BESbswy