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9015 Palomino Ridge Drive Lakeside, CA 92040

4 Beds 2 Baths 1,685 sqft Built 1980

$659,990

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $391.69
  • 5 Days on Market
  • MLS # : 200054781
  • Updated Date : 12/30/2020 at 20:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,685 sqft
  • Baths : 2 full
Listing Agent

Daca Financial Group

Listing Agent's Description

Come see this beautiful single level 4 bedroom, 2 bath home w/a private pool & gated RV parking on large lot. This home features a remodeled & upgraded kitchen w/quartz countertops, shutters, dual pane windows and sliders throughout, Vivant Solar Lease, drought resistant landscaping w/drip system, re-plastered pebble tech pool, outdoor fire pit, 2 sheds, one is used as a workshop. The property continues up the hill which is an empty canvas, maybe a garden or another outdoor space, don't miss your chance!

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: Lakeside

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $213k594k

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

Neighborhood: Lakeside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14502885

* 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
Blossom Valley Elementary School Primary Regular 523 21 7
Los Coches Creek Middle School Middle Regular 663 30 6
El Capitan High School High Regular 1,649 72 6

Blossom Valley Elementary School

  • Education Level: Primary
  • # of students: 523
  • # of teachers: 21
7
GreatSchools Rating

Los Coches Creek Middle School

  • Education Level: Middle
  • # of students: 663
  • # of teachers: 30
6
GreatSchools Rating

El Capitan High School

  • Education Level: High
  • # of students: 1,649
  • # of teachers: 72
6
GreatSchools Rating
 

$593,991$725,989$659,990

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$2,435
Property Tax -$757
Property Insurance -$70
Property Management Fees -$129
CASH FLOW
-$330

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.

$659,990

PROJECTED PRICE

$3,060

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.3%
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

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$180,647

INVESTMENT

$180,647

Down Payment
$164,998
Rehab Estimate
$5,750
Closing Costs
$9,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $164,998
Loan Amount $494,993
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$35,896

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
  • $3,471

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,925
$2,925
RENT COMPS ANALYSIS
  • 9015 Palomino Ridge Drive Lakeside, CA 1
    • 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 13616 Avenida Del Charro El Cajon, CA 2
    • 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 1970
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,925
    • $2.06
    •  
PROPERTY LISTING DETAILS
Stefanie Radasa
1.619.507.9720
Daca Financial Group
BESbswy