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8586 Atlas View Dr Santee, CA 92071

3 Beds 2 Baths 1,330 sqft Built 1985

$599,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $450.38
  • 6 Days on Market
  • MLS # : 210007553
  • Updated Date : 03/26/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,330 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc.

Listing Agent's Description

Updated single-story home is Santee on a private lane. ***Owned Solar! ***Light filled living room with a gas fireplace. ***Large, open kitchen with new cabinets, quartz countertops, new appliances, and opens to the outdoor pergola-covered patio. ***Spacious Master bedroom and updated ensuite bathroom. ***New vanities and quartz countertops in the bathrooms. ***Crown molding and ceiling fans throughout. ***Freshly painted interior, newer roof and rain gutters. ***Central air conditioning and heating throughout, including the garage. ***Whole house fan. ***RV parking with electrical hookups. ***Attached, finished 2-car garage. ***Large, fully-fenced backyard. ***Walk to the local Elementary School.. ***Minutes to great shopping and dining.

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: Santee

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $205k594k

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

Neighborhood: Santee

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14702885

* 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
West Hills High School High Regular 1,958 73 8
West Hills High School High Unknown NA

West Hills High School

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

West Hills High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$2,081
Property Tax -$601
Property Insurance -$61
Property Management Fees -$129
CASH FLOW
-$231

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.

$599,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.0%
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$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$25k

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 50% 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

5.17

YEARS SAVED

$31,710

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,640

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $2,727

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,6403$3,500
$3,500
RENT COMPS ANALYSIS
  • 8586 Atlas View Dr Santee, CA 2
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $1.98
    •  
  • 9539 Cottonwood Ave #f Santee, CA 1
    • 3 beds 2 baths ∙ 1,116 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,116 Sqft ∙ Built 1974
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.97
    •  
  • 7150 Bobhird Dr. San Diego, CA 3
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1967
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.13
    •  
PROPERTY LISTING DETAILS
Krystine Perron
1.858.775.2233
Exp Realty Of California Inc.
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210007553
Last Updated: 03/26/2021
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