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595 Downer Ave El Cajon, CA 92020

4 Beds 2 Baths 1,508 sqft Built 1957

$670,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $444.30
  • 2 Days on Market
  • MLS # : 200054970
  • Updated Date : 01/02/2021 at 23:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,508 sqft
  • Baths : 2 full
Listing Agent

Homes With My Realty

Listing Agent's Description

Welcome to Helix Park neighborhood! This is the only four bedroom, 2 bath, corner home for blocks. Built in 1965, the home is spacious with a fireplace, bonus room, central ac and heat, and much more to offer. Close to all shopping, trolley station, schools and hospitals, but still far enough to enjoy the peace and quiet of beautiful El Cajon.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: El Cajon

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $170k594k

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

Neighborhood: El Cajon

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13462885

* 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
Chase Avenue Elementary School Primary Regular 755 27 2
Emerald Stem Magnet Middle School Middle Magnet 537 23 1
Grossmont High School High Regular 2,394 92 7

Chase Avenue Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 27
2
GreatSchools Rating

Emerald Stem Magnet Middle School

  • Education Level: Middle
  • # of students: 537
  • # of teachers: 23
1
GreatSchools Rating

Grossmont High School

  • Education Level: High
  • # of students: 2,394
  • # of teachers: 92
7
GreatSchools Rating
 

$603,000$737,000$670,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,472
Property Tax -$681
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$687

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.

$670,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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

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$183,300

INVESTMENT

$183,300

Down Payment
$167,500
Rehab Estimate
$5,750
Closing Costs
$10,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $167,500
Loan Amount $502,500
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,256

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
  • $2,797

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9003$3,000
$3,000
RENT COMPS ANALYSIS
  • 595 Downer Ave El Cajon, CA 1
    • 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10242 Challenge Blvd La Mesa, CA 2
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1976
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.97
    •  
  • 1159 Benjamin Pl El Cajon, CA 3
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1967
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
PROPERTY LISTING DETAILS
Myeshia Abdul-hakeem
1.619.887.4969
Homes With My Realty
BESbswy