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9149 Gideon Circle N Lakeside, CA 92040

4 Beds 2 Baths 1,352 sqft Built 1972

$485,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $358.73
  • 3 Days on Market
  • MLS # : 200053321
  • Updated Date : 12/05/2020 at 23:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,352 sqft
  • Baths : 2 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Cosmetic fixer in the desirable Lakeview area of Lakeside, just around the corner from Lakeview Elementary. Private, yet welcoming front yard with brick covered patio welcomes you to this single-level 4BR/2BA home. Built in the 70s with many features still in original condition. Spacious living room with brick wood-burning fireplace and French doors leading to the 16x12 covered brick patio. Plenty of room for RV or boat both in the 2nd driveway and behind the gate in the backyard, cleanout too!

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: 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
Lakeview Elementary School Primary Regular 706 28 8
Tierra Del Sol Middle School Middle Regular 595 24 5
El Capitan High School High Regular 1,649 72 6

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 28
8
GreatSchools Rating

Tierra Del Sol Middle School

  • Education Level: Middle
  • # of students: 595
  • # of teachers: 24
5
GreatSchools Rating

El Capitan High School

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

$436,500$533,500$485,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,789
Property Tax -$548
Property Insurance -$61
Property Management Fees -$129
CASH FLOW
-$8

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.

$485,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.52%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$52,443

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
  • $2,690

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,925
$2,925
RENT COMPS ANALYSIS
  • 9149 Gideon Circle N Lakeside, CA 1
    • 4 beds 2 baths ∙ 1,352 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,352 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10034 River St. #2 Lakeside, CA 2
    • 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1972
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.92
    •  
  • 13616 Avenida Del Charro El Cajon, CA 3
    • 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
Jenniffer Taylor
1.619.892.6773
Pacific Sotheby's Int'l Realty
BESbswy