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657 Hawthorne Ave El Cajon, CA 92020

3 Beds 2 Baths 1,532 sqft Built 1955

$779,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $508.49
  • 8 Days on Market
  • MLS # : 210007327
  • Updated Date : 03/24/2021 at 16:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,532 sqft
  • Baths : 2 full
Listing Agent

Bhgre Brush & Associates

Listing Agent's Description

Rare Turnkey Charmer in Fletcher Hills! This remodeled single-level home in Fletcher Hills has it all. 2500 sqft, 3/2 + office + rec room with huge yard and detached office/workshop. Home was remodeled in 2018 with an open kitchen, new fireplace, new entry and front door, updated electrical, window treatments, designer paint and guest bath. The detached bonus room/ home office/workshop and garage is insulated with AC and is fully permitted! Huge yard features large Trex deck ideal for entertaining and hosting large gatherings, current owners have accommodated over 100 people! The yard has plenty of space for toys, trailers, play sets & gardens. Garage has been converted into family room/playroom/ workout room. Square footage from tax records does not reflect the converted garage or detached bonus room/work shop. Located within walking distance of 50 acre Harry Griffin park, minutes from I8, 125 and 52. Enjoy the convenient location and then come home to tree-lined streets and great schools! This property will not last!

SEE MORE

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

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
Parkway Middle School Middle Regular 737 26 7
Grossmont High School High Regular 2,394 92 7
Grossmont High School High Unknown NA

Parkway Middle School

  • Education Level: Middle
  • # of students: 737
  • # of teachers: 26
7
GreatSchools Rating

Grossmont High School

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

Grossmont High School

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

$701,100$856,900$779,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,706
Property Tax -$744
Property Insurance -$66
Property Management Fees -$129
CASH FLOW
-$855

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.

$779,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.36%

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-$15k-$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$212,185

INVESTMENT

$212,185

Down Payment
$194,750
Rehab Estimate
$5,750
Closing Costs
$11,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,706

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $194,750
Loan Amount $584,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,671

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
  • $3,028

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,0004$3,895
$3,895
RENT COMPS ANALYSIS
  • 657 Hawthorne Ave El Cajon, CA 1
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1955
    • 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
    •  
  • 6070 Howell La Mesa, CA 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1955
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.00
    •  
  • 6122 Nagel St La Mesa, CA 4
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1953
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $2.19
    •  
PROPERTY LISTING DETAILS
Kelly Halfaker
1.619.348.8419
Bhgre Brush & Associates
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210007327
Last Updated: 03/24/2021
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