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8600 Placid View Dr Santee, CA 92071

3 Beds 2 Baths 1,781 sqft Built 1975

$720,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
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!

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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

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
 

$648,000$792,000$720,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

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

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$196,550

INVESTMENT

$196,550

Down Payment
$180,000
Rehab Estimate
$5,750
Closing Costs
$10,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,501

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $180,000
Loan Amount $540,000
See What Happens When You Reinvest Cash Flow

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
$0
1$02$3,500
$3,500
RENT COMPS ANALYSIS
  • 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
Clayton Connolly
1.619.204.9593
Exp Realty Of California Inc
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210019592
Last Updated: 07/13/2021
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