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8718 Granite House Lane Santee, CA 92071

4 Beds 3 Baths 1,697 sqft Built 1987

$675,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $397.76
  • 33 Days on Market
  • MLS # : 200053186
  • Updated Date : 12/05/2020 at 19:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,697 sqft
  • Baths : 3 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Great Santee home on a quiet Cul-de-Sac! Original owners selling this 4 bed/3 bath home with a bedroom and full bathroom downstairs. Vaulted ceilings, fireplace with 2 sheds outside. Updated kitchen, new carpet, paint and laminate flooring in kitchen & family room. The home includes Central A/C, Solar Hot Water-Gylco System, dual pane windows and a spacious two car garage. Beautiful backyard with patio cover and mature fruit trees and garden. Side yard with dog run. Come and make this your home! See Supp

SEE MORE

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: 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
Pride Academy At Prospect Avenue Elementary School Primary Regular 572 21 7
Pride Academy At Prospect Avenue Elementary School Middle Regular 572 21 7
West Hills High School High Regular 1,958 73 8

Pride Academy At Prospect Avenue Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 21
7
GreatSchools Rating

Pride Academy At Prospect Avenue Elementary School

  • Education Level: Middle
  • # of students: 572
  • # of teachers: 21
7
GreatSchools Rating

West Hills High School

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

$607,500$742,500$675,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,490
Property Tax -$668
Property Insurance -$70
Property Management Fees -$129
CASH FLOW
-$697

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.

$675,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.39%

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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $2,630

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$2,660
1$2,6602$2,7503$2,9254$3,000
$3,000
RENT COMPS ANALYSIS
  • 8718 Granite House Lane Santee, CA 1
    • 4 beds 3 baths ∙ 1,697 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,697 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.57
    •  
  • 9504 Paseo De Los Castillos Santee, CA 2
    • 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2006
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.57
    •  
  • 10012 Merry Brooke Trail Santee, CA 3
    • 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 2007
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,925
    • $1.61
    •  
  • 9772 San Remo Court Santee, CA 4
    • 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 1991
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.47
    •  
PROPERTY LISTING DETAILS
Gay Valdivieso
1.619.654.0078
Pacific Sotheby's Int'l Realty
BESbswy