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848 Latisha Pl El Cajon, CA 92021

3 Beds 2 Baths 1,118 sqft Built 1970

$599,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $535.78
  • 10 Days on Market
  • MLS # : 210002439
  • Updated Date : 02/02/2021 at 22:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,118 sqft
  • Baths : 2 full
Listing Agent

Renovation Realty

Listing Agent's Description

Gorgeous updated single story in a great cul-de-sac location. House features open and bright floor plan, brand new kitchen with new quartz counter tops, white shaker cabinets, new stainless appliances and recessed lighting. New vinyl plank flooring throughout, and new carpet in bedrooms. Updated bathrooms. New dual pane windows. New interior and exterior paint. Easy care and drought tolerant landscaping. Sparkling Pool in backyard. Sunroom as additional space. This is a must see and the one to call 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

Zip Code: 92021

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Zip Code: 92021

ZipNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
Naranca Elementary School Primary Regular 817 34 2
Cajon Valley Middle School Middle Regular 882 39 3
El Cajon Valley High School High Regular 1,720 80 4

Naranca Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 34
2
GreatSchools Rating

Cajon Valley Middle School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 39
3
GreatSchools Rating

El Cajon Valley High School

  • Education Level: High
  • # of students: 1,720
  • # of teachers: 80
4
GreatSchools Rating
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$2,081
Property Tax -$608
Property Insurance -$55
Property Management Fees -$129
CASH FLOW
-$423

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.

$599,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.41%

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$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$16,073

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
  • $2,672

    COMP ESTIMATED VALUE
  • $2.39

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,3004$2,400
$2,400
RENT COMPS ANALYSIS
  • 848 Latisha Pl El Cajon, CA 1
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 12016 Winter Gardens Dr Lakeside, CA 2
    • 3 beds 1 baths ∙ 792 Sqft ∙ Built 1988 3 beds 1 baths ∙ 792 Sqft ∙ Built 1988
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $2.78
    •  
  • 1628 Summertime Dr El Cajon, CA 3
    • 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1974
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.02
    •  
  • 1378 Ivory Ct El Cajon, CA 4
    • 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1958
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.37
    •  
PROPERTY LISTING DETAILS
Zora Urieff
1.619.729.7137
Renovation Realty
BESbswy