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9360 Lake Country Dr Santee, CA 92071

3 Beds 2 Baths 1,075 sqft Built 1982

$649,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $603.72
  • 4 Days on Market
  • MLS # : 210000496
  • Updated Date : 01/08/2021 at 18:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,075 sqft
  • Baths : 2 full
Listing Agent

Allison James Estates & Homes

Listing Agent's Description

Welcome Home to your Beautifully Remodeled Santee Home.This wonderful open floorplan is an entertainers delight! Prepare delicious meals for family and friends in your Designer inspired kitchen with new SS appliances. Plenty of outdoor living space with wrap around Stamped Concrete patio in front and large deck in back. Relax and unwind in your spacious Master Suite.Take the kids and dogs for a walks to Santee Lakes Recreation Area,only 1/2 mile away in this family/pet friendly neighborhood. A Must See!

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: East Elliott

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $205k594k

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

Neighborhood: East Elliott

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14312885

* 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
Sycamore Canyon Elementary School Primary Regular 329 13 6
Sycamore Canyon Elementary School Middle Regular 329 13 6
West Hills High School High Regular 1,958 73 8

Sycamore Canyon Elementary School

  • Education Level: Primary
  • # of students: 329
  • # of teachers: 13
6
GreatSchools Rating

Sycamore Canyon Elementary School

  • Education Level: Middle
  • # of students: 329
  • # of teachers: 13
6
GreatSchools Rating

West Hills High School

  • Education Level: High
  • # of students: 1,958
  • # of teachers: 73
8
GreatSchools Rating
 

$584,100$713,900$649,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,254
Property Tax -$662
Property Insurance -$54
Property Management Fees -$129
CASH FLOW
-$739

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.

$649,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.6%
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-$10k-$5.0k$0.0$5.0k$10k$15k

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$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,143

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,360

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $2,317

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3603$2,399
$2,399
RENT COMPS ANALYSIS
  • 9360 Lake Country Dr Santee, CA 2
    • 3 beds 2 baths ∙ 1,075 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,075 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $2.20
    •  
  • 9539 Cottonwood Ave #f Santee, CA 1
    • 3 beds 2 baths ∙ 1,116 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,116 Sqft ∙ Built 1974
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.97
    •  
  • 10121 Peaceful Ct. Santee, CA 3
    • 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1974
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $2.34
    •  
PROPERTY LISTING DETAILS
Mitchell Lopez
1.619.602.5619
Allison James Estates & Homes
BESbswy