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620 N Pierce St El Cajon, CA 92020

3 Beds 2 Baths 1,585 sqft Built 1952

$669,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $422.08
  • 6 Days on Market
  • MLS # : 210006046
  • Updated Date : 03/09/2021 at 18:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,585 sqft
  • Baths : 2 full
Listing Agent

Realty Source, Inc.

Listing Agent's Description

Welcome home to this move in ready 3 bed, 2 bath ranch in El Cajon! This home has been completed renovated including new flooring, kitchens, bathrooms, paint, windows and HVAC. Features include an open concept with kitchen with bar seating, large living room with fireplace, master suite with en-suite bathroom and walk in closet that opens to your massive flat backyard, perfect for BBQ, kids play area, or a pool! All new landscaping and solar panels make this a home you don't want to miss!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.

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
Cajon Valley Middle School Middle Regular 882 39 3
Grossmont High School High Regular 2,394 92 7
Cajon Valley Middle School Middle Unknown NA

Cajon Valley Middle School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 39
3
GreatSchools Rating

Grossmont High School

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

Cajon Valley Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$602,100$735,900$669,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$2,324
Property Tax -$677
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$626

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.

$669,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 6.0%
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$183,035

INVESTMENT

$183,035

Down Payment
$167,250
Rehab Estimate
$5,750
Closing Costs
$10,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,250
Loan Amount $501,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$9,221

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
  • $2,758

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,000
$3,000
RENT COMPS ANALYSIS
  • 620 N Pierce St El Cajon, CA 1
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1159 Benjamin Pl El Cajon, CA 2
    • 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
Taylor Robertson
1.858.255.1722
Realty Source, Inc.
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210006046
Last Updated: 03/09/2021
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