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PROPERTY INFO
FACTS
- Single Family
- Built In 1972
- Price/Sqft : $498.08
- 5 Days on Market
- MLS # : 210000250
- Updated Date : 01/08/2021 at 21:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,305 sqft
- Baths : 2 full
Listing Agent
Exp Realty Of California Inc
Listing Agent's Description
Welcome home to this beautifully upgraded West Santee Home. You will find yourself enjoying the mature fruit trees and the wonderfully upgraded kitchen. With an open floor layout, this home has everything you've been looking for and more with Solar Installed as well. Move in Ready & Enjoy your new neighborhood
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Elliott
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,730 |
| EXPENSES | Loan Payment | -$2,258 |
| Property Tax | -$659 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$376
|
||
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.
$649,999
PROJECTED PRICE
$2,730
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$178,000
LOAN DETAILS
$2,258
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $162,500 |
| Loan Amount | $487,499 |
4
YEARS SAVED
$23,898
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,736
COMP ESTIMATED VALUE -
$2.1
COMP AVG. RENT PER SQFT
Comps Range
-
8510 Carlton Oaks Dr Santee, CA 1
- 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1972
- 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
-
9430 West Heaney Circle Santee, CA 4
- 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1960
LEASED 09/21/20- Rent
- Rent Per SQFT
- $2,895
- $2.00
PROPERTY LISTING DETAILS
1.619.961.9909
Exp Realty Of California Inc
