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616 Saltgrass Ave Carlsbad, CA 92011

4 Beds 3 Baths 2,468 sqft Built 2004

$1,495,000

List Price

$4,960

$4.7K - $5.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $605.75
  • 3 Days on Market
  • MLS # : 210001308
  • Updated Date : 01/16/2021 at 07:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,468 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

CASUAL ELEGANCE IN IMPECCABLE CONDITION! Located West of I-5 and situated on a generous corner lot with extraordinary inside-outside living and lush gardens. One of only a few homes which features abundant natural light that truly showcases this well appointed home. You'll love the gorgeous oil rubbed Oak Flooring throughout, Chic Cabinetry in the Dining Rm and Family Rm, Shutters, Custom Lighting, Fabulous Kitchen w/oversized Island, Granite, Fireclay tile backsplash, Stainless Appliances & so much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: South Beach

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100kPrice in $240k1181k

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

Neighborhood: South Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $16274668

* 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
Pacific Rim Elementary School Primary Regular 866 29 10
Aviara Oaks Middle School Middle Regular 1,093 37 9
Carlsbad High School High Regular 2,685 101 9

Pacific Rim Elementary School

  • Education Level: Primary
  • # of students: 866
  • # of teachers: 29
10
GreatSchools Rating

Aviara Oaks Middle School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 37
9
GreatSchools Rating

Carlsbad High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 101
9
GreatSchools Rating
 

$1,345,500$1,644,500$1,495,000

PURCHASE PRICE

$4,464$5,456$4,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,960
EXPENSES Loan Payment -$5,193
Property Tax -$1,336
Property Insurance -$89
HOA -$225
Property Management Fees -$129
CASH FLOW
-$2,012

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,495,000

PROJECTED PRICE

$4,960

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$401,925

INVESTMENT

$401,925

Down Payment
$373,750
Rehab Estimate
$5,750
Closing Costs
$22,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$5,193

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $373,750
Loan Amount $1,121,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,479

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
  • $5,016

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,5003$5,0004$5,0005$5,050
$5,050
RENT COMPS ANALYSIS
  • 616 Saltgrass Ave Carlsbad, CA 1
    • 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 607 Sandside Ct. Carlsbad, CA 2
    • 3 beds 3 baths ∙ 2,314 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,314 Sqft ∙ Built 2004
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.94
    •  
  • 6489 Franciscan Road Carlsbad, CA 3
    • 4 beds 4 baths ∙ 2,559 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,559 Sqft ∙ Built 2001
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $1.95
    •  
  • 6921 Catamaran Drive Carlsbad, CA 4
    • 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 2002
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.11
    •  
  • 640 Sand Shell Ave Carlsbad, CA 5
    • 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 2003
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,050
    • $2.13
    •  
PROPERTY LISTING DETAILS
Debbi Houshar
1.619.865.6521
Keller Williams Realty
BESbswy