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7020 Oak Glenn Ct Lemon Grove, CA 91945

3 Beds 3 Baths 1,506 sqft Built 1991

$589,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $391.10
  • 3 Days on Market
  • MLS # : 210000575
  • Updated Date : 01/09/2021 at 19:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,506 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dt America Realty

Listing Agent's Description

Beautiful single-family home in Lemon Grove. Low maintenance front/back yard, large driveway. Features: Open floor plan with skylights in family room & dining room & interior with new paint. Kitchen features like-new appliances, new granite counter tops, & like new cabinets. Washer+dryer included. Updated bathrooms with tile enclosure in shower & new granite countertops. Master bedroom includes large, stained mirror closet with dual vanity sinks. All tile on 1st floor & new laminate on 2nd.No Mello-Roos

SEE MORE

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: Lemon Grove

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Lemon Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12812885

* 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
San Altos Elementary School Primary Regular 428 17 6
San Altos Elementary School Middle Regular 428 17 6
Mount Miguel High School High Regular 1,483 68 4

San Altos Elementary School

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 17
6
GreatSchools Rating

San Altos Elementary School

  • Education Level: Middle
  • # of students: 428
  • # of teachers: 17
6
GreatSchools Rating

Mount Miguel High School

  • Education Level: High
  • # of students: 1,483
  • # of teachers: 68
4
GreatSchools Rating
 

$530,100$647,900$589,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,046
Property Tax -$690
Property Insurance -$65
HOA -$80
Property Management Fees -$129
CASH FLOW
-$360

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.

$589,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,046

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$18,758

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
  • $2,856

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4883$2,7904$2,795
$2,795
RENT COMPS ANALYSIS
  • 7020 Oak Glenn Ct Lemon Grove, CA 1
    • 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2389 Ravenwood Drive Lemon Grove, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1987
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,488
    • $2.07
    •  
  • 7202 Jacmar Avenue San Diego, CA 3
    • 4 beds 2 baths ∙ 1,461 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,461 Sqft ∙ Built 1981
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.91
    •  
  • 7508 Easthill Dr San Diego, CA 4
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.71
    •  
PROPERTY LISTING DETAILS
Denny Tran
1.619.582.4232
Dt America Realty
BESbswy