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8309 Rumson Dr Santee, CA 92071

3 Beds 2 Baths 1,334 sqft Built 1973

$599,900

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $449.70
  • 3 Days on Market
  • MLS # : 210000599
  • Updated Date : 01/09/2021 at 02:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,334 sqft
  • Baths : 2 full
Listing Agent

Century 21 Award

Listing Agent's Description

West Hills area.. Quiet location.. Cul-de-sac end of Rumson Drive..3 Bedrooms, 2 baths + Spacious Living Room/Family Room area.. Bright and light kitchen with stainless steel appliances (refrigerator is included) + separate dining area.. Relax on covered patio overlooking fenced rear yard and enjoy relaxing view of the Valley and Mountains.. Central air-conditioning + Forced-air heating..2 car garage with direct access to home..

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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: East Elliott

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $205k594k

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

Neighborhood: East Elliott

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14312885

* 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
Carlton Oaks Elementary School Primary Regular 815 31 7
Carlton Oaks Elementary School Middle Regular 815 31 7
West Hills High School High Regular 1,958 73 8

Carlton Oaks Elementary School

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 31
7
GreatSchools Rating

Carlton Oaks Elementary School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 31
7
GreatSchools Rating

West Hills High School

  • Education Level: High
  • # of students: 1,958
  • # of teachers: 73
8
GreatSchools Rating
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,084
Property Tax -$608
Property Insurance -$61
Property Management Fees -$129
CASH FLOW
-$132

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.

$599,900

PROJECTED PRICE

$2,750

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$41,121

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
  • $2,861

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5753$2,600
$2,600
RENT COMPS ANALYSIS
  • 8309 Rumson Dr Santee, CA 1
    • 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8524 Dobyns Dr Santee, CA 2
    • 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 1960
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $2.30
    •  
  • 8431 Carlton Oaks Dr. Santee, CA 3
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1972
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.99
    •  
PROPERTY LISTING DETAILS
Ron Durrett
1.619.668.2854
Century 21 Award
BESbswy