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9254 Fairlawn St. Santee, CA 92071

3 Beds 2 Baths 1,374 sqft Built 1960

$590,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $429.40
  • 4 Days on Market
  • MLS # : 200052345
  • Updated Date : 11/21/2020 at 22:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,374 sqft
  • Baths : 2 full
Listing Agent

Re/max Hometown Realtors

Listing Agent's Description

CHARMING MID-CENTURY STYLE IN SANTEE!! PERFECT FOR THE BUYER WHO WANTS A FRONT YARD, BACKYARD & GARAGE! THIS HOME HAS THE CHARM AND APPPEAL ANY FAMILY COULD ASK FOR!! FLOOR PLAN FEATURES SPACIOUS ROOMS! OPEN-HUGE FAMILY ROOM W/ GORGEOUS WOOD CEILING!! COZY WOOD BURNING FIREPLACE & LARGE PICTURE WINDOWS IN SPACIOUS LIVING ROOM-VERY LIGHT AND BRIGHT! OPEN-COUNTRY KITCHEN & DINING! INSIDE LAUNDRY, CENTRAL HEAT, AIR CONDITIONING & ATTACHED GARAGE! GOOD SIZE BACKYARD & PATIO-GREAT FOR OUTDOOR ENTERTAINING!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Pepper Drive Elementary School Primary Regular 828 30 7
Pepper Drive Elementary School Middle Regular 828 30 7
Santana High School High Regular 1,509 58 8

Pepper Drive Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 30
7
GreatSchools Rating

Pepper Drive Elementary School

  • Education Level: Middle
  • # of students: 828
  • # of teachers: 30
7
GreatSchools Rating

Santana High School

  • Education Level: High
  • # of students: 1,509
  • # of teachers: 58
8
GreatSchools Rating
 

$531,000$649,000$590,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$2,177
Property Tax -$593
Property Insurance -$62
Property Management Fees -$129
CASH FLOW
-$580

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.

$590,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.40%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,849

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 9254 Fairlawn St. Santee, CA
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
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PROPERTY LISTING DETAILS
Karen Whitfield
1.619.846.5730
Re/max Hometown Realtors
BESbswy