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779 Lemon Ave Vista, CA 92084

4 Beds 3 Baths 1,650 sqft Built 1963

$574,990

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $348.48
  • 23 Days on Market
  • MLS # : 200050412
  • Updated Date : 11/21/2020 at 02:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,650 sqft
  • Baths : 3 full
Listing Agent

Reef Point Realty, Inc

Listing Agent's Description

Amazing 1 story home, huge lot, detached 2 car gar, plenty of room for gardening, RV, & desert toys. The permitted new additions makes this like a new home perfect for entertaining w/laminate flooring & sunset views. The gourmet kitchen is ideal for the chef in your family with gleaming cabinets, stainless steel appliances & granite counters. The new master boasts a walk-in closet, ensuite bath, jacuzzi tub, & walk-in shower. The Jack & Jill bath, tankless water heater & laundry room make this a must see

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Vista

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13382885

* 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
Beaumont Elementary School Primary Regular 510 20 3
Rancho Minerva Middle School Middle Regular 835 43 2
Vista High School High Regular 2,567 121 6

Beaumont Elementary School

  • Education Level: Primary
  • # of students: 510
  • # of teachers: 20
3
GreatSchools Rating

Rancho Minerva Middle School

  • Education Level: Middle
  • # of students: 835
  • # of teachers: 43
2
GreatSchools Rating

Vista High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
6
GreatSchools Rating
 

$517,491$632,489$574,990

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$2,121
Property Tax -$642
Property Insurance -$69
Property Management Fees -$129
CASH FLOW
-$661

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.

$574,990

PROJECTED PRICE

$2,300

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,122

INVESTMENT

$158,122

Down Payment
$143,748
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,121

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,748
Loan Amount $431,243
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,454

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,300

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $2,657

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,650
$2,650
RENT COMPS ANALYSIS
  • 779 Lemon Ave Vista, CA 1
    • 4 beds 3 baths ∙ 1,650 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,650 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.39
    •  
  • 933 Granada Oceanside, CA 2
    • 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 1980
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.61
    •  
PROPERTY LISTING DETAILS
John Reeves
1.858.746.9214
Reef Point Realty, Inc
BESbswy