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PROPERTY INFO
FACTS
- Single Family
- Built In 1969
- Price/Sqft : $404.28
- 4 Days on Market
- MLS # : 200051432
- Updated Date : 11/14/2020 at 21:00
CONSTRUCTION
- Beds : 3
- Floor Size : 2,058 sqft
- Baths : 3 full
Listing Agent
Q1 Real Estate
Listing Agent's Description
Located In The Desired SAN CARLOS Neighborhood Close To Lake Murray, Cowels Mnt, I-8/125, & 10Mins from DT LA MESA; This Gorgeous Home Has EVERYTHING You Are Looking For w/ Laminate Wood Flooring Throughout & Plush Carpet In The Sun Room! Quaint Gourmet Kitchen w/ Granite Counter Tops, Stainless Steel Appliances, And Plenty Of Cabinet Space. Huge Living & Family Room Area w/ Tiled Gas Fireplace, Wood Beam Vaulted Ceilings, And Skylights w/ Plenty Of Natural Lighting. Large Master Suite w/ Walk-In Closet.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Lake Murray
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Murray
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,020 |
| EXPENSES | Loan Payment | -$3,070 |
| Property Tax | -$824 | |
| Property Insurance | -$79 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$1,082
|
||
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.
$832,000
PROJECTED PRICE
$3,020
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.41% |
| Appreciation Year (1-5) | 5.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.56% |
| 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
$226,230
LOAN DETAILS
$3,070
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $208,000 |
| Loan Amount | $624,000 |
0.83
YEARS SAVED
$3,260
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,020
LIST RENT -
$1.47
LIST RENT PER SQFT
-
$3,046
COMP ESTIMATED VALUE -
$1.48
COMP AVG. RENT PER SQFT
Comps Range
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6322 Lake Leven Dr La Mesa, CA 2
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- $3,020
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7415 Rondel San Carlos, CA 1
- 3 beds 4 baths ∙ 2,061 Sqft ∙ Built 1981 3 beds 4 baths ∙ 2,061 Sqft ∙ Built 1981
LEASED 10/21/19- Rent
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- $3,000
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7844 Lake Tahoe Ave San Diego, CA 3
- 4 beds 2 baths ∙ 1,961 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,961 Sqft ∙ Built 1968
LEASED 07/21/20- Rent
- Rent Per SQFT
- $3,200
- $1.63
-
6259 Oakridge San Diego, CA 4
- 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 1972
LEASED 09/03/20- Rent
- Rent Per SQFT
- $3,200
- $1.41
-
6919 Birchcreek Rd San Carlos, CA 5
- 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 1981
LEASED 02/20/20- Rent
- Rent Per SQFT
- $3,350
- $1.42
PROPERTY LISTING DETAILS
1.850.685.0267
Q1 Real Estate
