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902 La Fiesta Pl San Marcos, CA 92078

2 Beds 2 Baths 1,300 sqft Built 1964

$524,900

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $403.77
  • 6 Days on Market
  • MLS # : 210001167
  • Updated Date : 01/17/2021 at 02:07
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,300 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This adorable 2 br / 2ba ranch-style home is located in the 55+ Sun Park Community of Lake San Marcos and situated on a quaint cul-de-sac. The larger-than-most (for this neighborhood) pie-shaped lot backs to a lovely greenbelt & pathway that leads to the community center & lake. Enjoy views out the front door/windows of Double Peak Mtn. Completely updated & move-in ready… Kitchen features newer soft-closing cabinets, solid-surface countertops, decorator glass tile backsplash & stainless steel appliances

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: Lake San Marcos

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $223k645k

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

Neighborhood: Lake San Marcos

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $15033094

* 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
Discovery Elementary School Primary Regular 982 37 8
San Elijo Middle School Middle Regular 1,850 61 9
San Marcos High School High Regular 2,776 101 9

Discovery Elementary School

  • Education Level: Primary
  • # of students: 982
  • # of teachers: 37
8
GreatSchools Rating

San Elijo Middle School

  • Education Level: Middle
  • # of students: 1,850
  • # of teachers: 61
9
GreatSchools Rating

San Marcos High School

  • Education Level: High
  • # of students: 2,776
  • # of teachers: 101
9
GreatSchools Rating
 

$472,410$577,390$524,900

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,823
Property Tax -$483
Property Insurance -$60
HOA -$103
Property Management Fees -$129
CASH FLOW
-$378

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.

$524,900

PROJECTED PRICE

$2,220

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,823

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$13,901

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
  • $2,366

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9503$2,2004$2,700
$2,700
RENT COMPS ANALYSIS
  • 902 La Fiesta Pl San Marcos, CA 1
    • 2 beds 2 baths ∙ 1,300 Sqft ∙ Built 1964 2 beds 2 baths ∙ 1,300 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 525 Beverly Pl. San Marcos, CA 2
    • 2 beds 2 baths ∙ 1,068 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,068 Sqft ∙ Built 1980
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.83
    •  
  • 924 La Fiesta Court San Marcos, CA 3
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1963 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1963
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.83
    •  
  • 1171 Los Corderos San Marcos, CA 4
    • 2 beds 2 baths ∙ 1,500 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,500 Sqft ∙ Built 1978
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.80
    •  
PROPERTY LISTING DETAILS
Desiree Kates
1.858.967.8858
Keller Williams Realty
BESbswy