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907 Candlelite Drive San Marcos, CA 92069

3 Beds 3 Baths 1,927 sqft Built 1978

INVESTimate

$715,000

List Price

$2,730

$2,480 - $2,980

Rent Est.

$755,326  ( +5.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $371.04
  • 6 Days on Market
  • MLS # : 200040538
  • Updated Date : 08/23/2020 at 21:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,927 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tenxrealty

Listing Agent's Description

Beautiful 3-bedroom 2 1/2 bath home on large lot with huge gated driveway. RV parking, remodeled kitchen, extra large bonus room (sun room) plus laundry room. Plantation shutters, whole house fan, beautiful landscaping includes flagstone paths, fruit trees, garden. Solar panels installed.

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: San Marcos

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $223k599k

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

Neighborhood: San Marcos

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000250030003500400045005000Rent in $15145208

* 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
Richland Elementary School Primary Regular 850 32 7
Woodland Park Middle School Middle Regular 1,305 44 6
Mission Hills High School High Regular 2,530 91 8

Richland Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 32
7
GreatSchools Rating

Woodland Park Middle School

  • Education Level: Middle
  • # of students: 1,305
  • # of teachers: 44
6
GreatSchools Rating

Mission Hills High School

  • Education Level: High
  • # of students: 2,530
  • # of teachers: 91
8
GreatSchools Rating
 

$643,500$786,500$715,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

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-$15k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,638
Property Tax -$661
Property Insurance -$76
Property Management Fees -$129
CASH FLOW
-$774

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.

$715,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.64%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$195,225

INVESTMENT

$195,225

Down Payment
$178,750
Rehab Estimate
$5,750
Closing Costs
$10,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $178,750
Loan Amount $536,250
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$9,289

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
  • $2,813

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6953$2,7504$2,995
$2,995
RENT COMPS ANALYSIS
  • 907 Candlelite Drive San Marcos, 1
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 337 Camino Mateo Escondido, 2
    • 4 beds 2 baths ∙ 1,799 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,799 Sqft ∙ Built 1977
    LEASED 03/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.50
    •  
  • 798 Pebble Beach Dr San Marcos, 3
    • 4 beds 3 baths ∙ 1,902 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,902 Sqft ∙ Built 1996
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.45
    •  
  • 598 Silver Shadow Dr. San Marcos, 4
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1989
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.43
    •  
PROPERTY LISTING DETAILS
Irv Erdos
1.760.390.2727
Tenxrealty
BESbswy