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945 Honeysuckle Dr San Marcos, CA 92078

4 Beds 3 Baths 1,911 sqft Built 1992

$750,000

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $392.46
  • 3 Days on Market
  • MLS # : 200051041
  • Updated Date : 11/07/2020 at 16:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,911 sqft
  • Baths : 2 full , 1 half
Listing Agent

Achievers Realty, Inc

Listing Agent's Description

This is the ONE!! Beautiful home on a view lot in Discovery Hills! No neighbors behind you! Featuring 3 bedrooms plus 1 optional bedroom/office (next to the primary suite) & 2.5 Baths. Open & bright plan with vaulted ceilings in living/dining rooms. Kitchen opens to family and covered porch in backyard. Prep dinner easily with double ovens/ gas cooktop in this cook's kitchen. Hard surface flooring throughout the downstairs for less indoor allergens. Generous 3-car garage plus separate laundry room.

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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: San Marcos

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $223k636k

* 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
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
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$2,767
Property Tax -$743
Property Insurance -$75
Property Management Fees -$129
CASH FLOW
-$544

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.

$750,000

PROJECTED PRICE

$3,170

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.6%
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$20k$25k$30k

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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$26,791

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
  • $3,316

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,3003$3,450
$3,450
RENT COMPS ANALYSIS
  • 945 Honeysuckle Dr San Marcos, CA 1
    • 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1708 Thorley Way San Marcos, CA 2
    • 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2004
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.66
    •  
  • 764 Poppy Road San Marcos, CA 3
    • 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 1993
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.81
    •  
PROPERTY LISTING DETAILS
Betsy Heller
1.858.583.1413
Achievers Realty, Inc
BESbswy