Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1975
- Price/Sqft : $404.27
- 1 Days on Market
- MLS # : 210019592
- Updated Date : 07/13/2021 at 19:39
CONSTRUCTION
- Beds : 3
- Floor Size : 1,781 sqft
- Baths : 2 full
Listing Agent
Exp Realty Of California Inc
Listing Agent's Description
Quiet street, great location! Enjoy the spacious benefits of this 3 bed 2 bath Santee home. This 1,781 Sq Ft abode boasts a living room and family room, private master suite, remodeled bathrooms, recessed lights, wood laminate floors, fireplace, wifi thermostat, and OTA antenna to all the rooms for free HDTV of local channels! Outside you will love the landscaped/hardscaped gated front and back yards, perfect for entertaining! This home is a must see!
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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]
PRICE & RENT TRENDS
Neighborhood: Santee
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Santee
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,270 |
| EXPENSES | Loan Payment | -$2,501 |
| Property Tax | -$728 | |
| Property Insurance | -$72 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$159
|
||
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.
$720,000
PROJECTED PRICE
$3,270
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$196,550
LOAN DETAILS
$2,501
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $180,000 |
| Loan Amount | $540,000 |
6
YEARS SAVED
$49,313
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
-
$3,794
COMP ESTIMATED VALUE -
$2.13
COMP AVG. RENT PER SQFT
Comps Range
-
8600 Placid View Dr Santee, CA 1
- 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1975
- Rent
- Rent Per SQFT
- $0
- $0.00
-
7150 Bobhird Dr. San Diego, CA 2
- 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
1.619.204.9593
Exp Realty Of California Inc
MLS #: 210019592
Last Updated: 07/13/2021
