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PROPERTY INFO
FACTS
- Single Family
- Built In 2016
- Price/Sqft : $555.18
- 23 Days on Market
- MLS # : 210003462
- Updated Date : 02/19/2021 at 22:19
CONSTRUCTION
- Beds : 5
- Floor Size : 3,059 sqft
- Baths : 4 full
Listing Agent
Exp Realty Of California Inc.
Listing Agent's Description
Immaculate home in Carmel Valley with a bedroom and full bathroom on the first floor. ***Bright and open kitchen with handsome wood cabinetry, granite countertops, pantry, and large center island. ***Accordion doors off the Family room open the entire room to the covered patio, creating a great flow of indoor/outdoor living. ***Spacious Master retreat with ensuite bath featuring dual vanities, soaking tub, separate shower, and walk-in closet. ***Three more bedrooms upstairs, all with ample closet space and a balcony off one of the bedrooms. ***Convenient second-floor laundry room. ***Large loft with built-ins. ***Private outdoor space with low-maintenance landscaping. ***Attached 3-car garage.
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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: North City
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North City
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $5,180 |
| EXPENSES | Loan Payment | -$5,899 |
| Property Tax | -$1,716 | |
| Property Insurance | -$104 | |
| HOA | -$288 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$2,956
|
||
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.
$1,698,300
PROJECTED PRICE
$5,180
PROJECTED RENT
0.31%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.65% |
| Appreciation Year (1-5) | 4.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.45% |
| 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
$455,800
LOAN DETAILS
$5,899
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $424,575 |
| Loan Amount | $1,273,725 |
0.17
YEARS SAVED
$147
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$5,162
COMP ESTIMATED VALUE -
$1.69
COMP AVG. RENT PER SQFT
Comps Range
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- $5,600
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LEASED 08/01/20- Rent
- Rent Per SQFT
- $5,700
- $1.77
PROPERTY LISTING DETAILS
1.858.755.1999
Exp Realty Of California Inc.
MLS #: 210003462
Last Updated: 02/19/2021
