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815 Spindrift Ln Carlsbad, CA 92011

3 Beds 2 Baths 1,404 sqft Built 1989

$899,000

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $640.31
  • 3 Days on Market
  • MLS # : 210003783
  • Updated Date : 02/12/2021 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 2 full
Listing Agent

Homesmart Realty West

Listing Agent's Description

Harbor Pointe gated community beauty! Spectacular remodeled beach home with open floor plan in one of the best gated communities in Carlsbad. Walking distance to the beach (.5 miles) Excellent schools including the award winning top rated Pacific Rim Elementary. Recently remodeled with new kitchen and appliances. New Engineer Hardwood flooring, shipslab walls, fresh exterior paint and much more. Patio bi-folding doors with new backyard landscaping. Gated community offers heated pool and hot tub.

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: Poinsettia

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $240k892k

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

Neighborhood: Poinsettia

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16273922

* 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
Pacific Rim Elementary School Primary Regular 866 29 10
Aviara Oaks Middle School Middle Regular 1,093 37 9
Carlsbad High School High Regular 2,685 101 9

Pacific Rim Elementary School

  • Education Level: Primary
  • # of students: 866
  • # of teachers: 29
10
GreatSchools Rating

Aviara Oaks Middle School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 37
9
GreatSchools Rating

Carlsbad High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 101
9
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$3,123
Property Tax -$803
Property Insurance -$63
HOA -$160
Property Management Fees -$129
CASH FLOW
-$1,287

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.

$899,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$421

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
  • $3,201

    COMP ESTIMATED VALUE
  • $2.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1003$3,400
$3,400
RENT COMPS ANALYSIS
  • 815 Spindrift Ln Carlsbad, CA 1
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1323 Statice Ct Carlsbad, CA 2
    • 3 beds 3 baths ∙ 1,207 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,207 Sqft ∙ Built 2000
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.57
    •  
  • 7033 Surfbird Circle Carlsbad, CA 3
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1997
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.99
    •  
PROPERTY LISTING DETAILS
Cesar Lopez
1.916.316.9671
Homesmart Realty West
BESbswy