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PROPERTY INFO
FACTS
- Single Family
- Built In 2000
- Price/Sqft : $291.63
- 7 Days on Market
- MLS # : 210000777
- Updated Date : 01/15/2021 at 21:09
CONSTRUCTION
- Beds : 4
- Floor Size : 2,294 sqft
- Baths : 2 full , 1 half
Listing Agent
Redfin Corporation
Listing Agent's Description
Move-in ready, 2-story, home at the end of a cul-de-sac and sitting on a half-acre lot features great curb appeal, new exterior paint, a spacious floorplan, new windows, high ceilings, a custom paint scheme, and PAID Solar Panels! This home has a formal living room and dining area, currently being used as an office. The family room features a beautiful stone fireplace and has sliding glass door access to the backyard.
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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: Ramona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ramona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,850 |
| EXPENSES | Loan Payment | -$2,324 |
| Property Tax | -$679 | |
| Property Insurance | -$85 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$367
|
||
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.
$669,000
PROJECTED PRICE
$2,850
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 7.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.80% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$183,035
LOAN DETAILS
$2,324
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $167,250 |
| Loan Amount | $501,750 |
4.17
YEARS SAVED
$26,073
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
-
$2,913
COMP ESTIMATED VALUE -
$1.27
COMP AVG. RENT PER SQFT
Comps Range
-
623 Rowley Way Ramona, CA 1
- 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2000
- Rent
- Rent Per SQFT
- $0
- $0.00
-
1508 Sara Marie Pl Ramona, CA 2
- 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2007
LEASED 06/26/20- Rent
- Rent Per SQFT
- $2,995
- $1.27
PROPERTY LISTING DETAILS
1.949.244.6651
Redfin Corporation
