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8432 Blossom Hill Dr Lemon Grove, CA 91945

4 Beds 3 Baths 2,066 sqft Built 1976

$699,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $338.33
  • 7 Days on Market
  • MLS # : 210000890
  • Updated Date : 01/15/2021 at 20:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,066 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp Real Estate & Mortgage Inc.

Listing Agent's Description

Spacious home located in a nice, quiet neighborhood. The property feature 4 bedrooms, 2.5 baths, upgraded bathrooms, walking closet, 2066sqft, 2 stories, fruit trees, lease solar about $85/monthly...and many more.

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

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
Bancroft Elementary School Primary Regular 652 21 2
La Presa Middle School Middle Regular 530 17 4
Mount Miguel High School High Regular 1,483 68 4

Bancroft Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 21
2
GreatSchools Rating

La Presa Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 17
4
GreatSchools Rating

Mount Miguel High School

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

$629,100$768,900$699,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,428
Property Tax -$825
Property Insurance -$79
Property Management Fees -$129
CASH FLOW
-$381

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.

$699,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.44%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$26,029

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
  • $3,677

    COMP ESTIMATED VALUE
  • $1.78

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,095
$3,095
RENT COMPS ANALYSIS
  • 8432 Blossom Hill Dr Lemon Grove, CA 1
    • 4 beds 3 baths ∙ 2,066 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,066 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1426 San Bernardino Avenue Spring Valley, CA 2
    • 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 1988
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.78
    •  
PROPERTY LISTING DETAILS
Lan Calvano
1.619.362.6098
Jp Real Estate & Mortgage Inc.
BESbswy