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9476 Medina Dr Santee, CA 92071

3 Beds 2 Baths 1,200 sqft Built 1972

$599,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1972
  • Price/Sqft : $499.17
  • 13 Days on Market
  • MLS # : 200049933
  • Updated Date : 11/05/2020 at 15:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Active Realty

Listing Agent's Description

Welcome to this gorgeous single story, 3 bedroom, 2 bath home located close to Santee Lakes. Offering hardwood flooring, trendy paint throughout with natural sunlight and ceiling fans in every room. Equipped with tons of kitchen cabinets, AC & 2 car garage with extra driveway space. Relax in your low maintenance backyard or make memories around the play structure.

SEE MORE

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: 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
Carlton Oaks Elementary School Primary Regular 815 31 7
Carlton Oaks Elementary School Middle Regular 815 31 7
West Hills High School High Regular 1,958 73 8

Carlton Oaks Elementary School

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 31
7
GreatSchools Rating

Carlton Oaks Elementary School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 31
7
GreatSchools Rating

West Hills High School

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

$539,100$658,900$599,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,210
Property Tax -$608
Property Insurance -$57
Property Management Fees -$129
CASH FLOW
-$514

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.

$599,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.42%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$15,727

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $2.08

    LIST RENT PER SQFT
  • $2,492

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,5753$2,6004$2,700
$2,700
RENT COMPS ANALYSIS
  • 9476 Medina Dr Santee, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $2.08
    •  
  • 8524 Dobyns Dr Santee, CA 2
    • 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 1960
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $2.30
    •  
  • 8431 Carlton Oaks Dr. Santee, CA 3
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1972
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.99
    •  
  • 9343 Nalini Court Santee, CA 4
    • 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 1977
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.94
    •  
PROPERTY LISTING DETAILS
Kamal Sandhu
1.619.228.6780
Active Realty
BESbswy