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6389 Paseo Descanso Carlsbad, CA 92009

3 Beds 4 Baths 3,102 sqft Built 2002

INVESTimate

$1,297,000

List Price

$4,120

$3,870 - $4,370

Rent Est.

$1,371,318  ( +5.73%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $418.12
  • 13 Days on Market
  • MLS # : 200039543
  • Updated Date : 08/26/2020 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,102 sqft
  • Baths : 3 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Enjoy panoramic ocean views from this truly special cul-de-sac home situated on a fully usable 1/3 acre lot in desirable Rancho Carrillo. This remarkable gem features owned solar, an over-sized Master suite w/ viewing deck and incredible Master bath, two additional upstairs bedrooms plus loft (could be enclosed to make a bedroom), downstairs office, HUGE gourmet kitchen that flows into the large family room, formal living and dining rooms, and an unbelievable backyard with garden PLUS huge side yard.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: Rancho Carillo

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $240k892k

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

Neighborhood: Rancho Carillo

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16273971

* 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
Carrillo Elementary School Primary Regular 1,058 40 9
San Elijo Middle School Middle Regular 1,850 61 9
San Marcos High School High Regular 2,776 101 9

Carrillo Elementary School

  • Education Level: Primary
  • # of students: 1,058
  • # of teachers: 40
9
GreatSchools Rating

San Elijo Middle School

  • Education Level: Middle
  • # of students: 1,850
  • # of teachers: 61
9
GreatSchools Rating

San Marcos High School

  • Education Level: High
  • # of students: 2,776
  • # of teachers: 101
9
GreatSchools Rating
 

$1,167,300$1,426,700$1,297,000

PURCHASE PRICE

$3,708$4,532$4,120

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,120
EXPENSES Loan Payment -$4,785
Property Tax -$1,461
Property Insurance -$105
HOA -$107
Property Management Fees -$129
CASH FLOW
-$2,468

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.

$1,297,000

PROJECTED PRICE

$4,120

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.73%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,455

INVESTMENT

$349,455

Down Payment
$324,250
Rehab Estimate
$5,750
Closing Costs
$19,455

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$4,785

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,250
Loan Amount $972,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$115

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
  • $4,529

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,0003$4,8004$5,250
$5,250
RENT COMPS ANALYSIS
  • 6389 Paseo Descanso Carlsbad, 1
    • 3 beds 4 baths ∙ 3,102 Sqft ∙ Built 2002 3 beds 4 baths ∙ 3,102 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6233 Paseo Privado Carlsbad, 2
    • 3 beds 4 baths ∙ 3,060 Sqft ∙ Built 2002 3 beds 4 baths ∙ 3,060 Sqft ∙ Built 2002
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.31
    •  
  • 2968 Rancho Brasado Carlsbad, 3
    • 4 beds 4 baths ∙ 3,259 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,259 Sqft ∙ Built 2001
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $1.47
    •  
  • 7090 Sitio Corazon Carlsbad, 4
    • 4 beds 4 baths ∙ 3,273 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,273 Sqft ∙ Built 2013
    property image
    LEASED 03/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,250
    • $1.60
    •  
PROPERTY LISTING DETAILS
Bryan Devore
1.760.908.3838
Berkshire Hathaway Homeservice
BESbswy