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9530 Lutheran Way Santee, CA 92071

4 Beds 2 Baths 1,248 sqft Built 1969

$569,999

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $456.73
  • 19 Days on Market
  • MLS # : 200054738
  • Updated Date : 12/31/2020 at 18:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,248 sqft
  • Baths : 2 full
Listing Agent

Reef Point Realty, Inc

Listing Agent's Description

Much loved home is on the market for the first time in years! Make this special property your new home for 2021.Nice location, sits up high on the corner, drought tolerant landscaping, and relaxing backyard. Enjoy sitting warm by the brick fireplace in the living room. Master bedroom has its own bathroom that opens to the back patio, including a newer Jacuzzi to further relax at the beginning or end of your day. Additional bathroom and three bedrooms, along with spacious backyard provide comfort for all.

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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: 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
Rio Seco Elementary School Primary Regular 980 38 8
Rio Seco Elementary School Middle Regular 980 38 8
West Hills High School High Regular 1,958 73 8

Rio Seco Elementary School

  • Education Level: Primary
  • # of students: 980
  • # of teachers: 38
8
GreatSchools Rating

Rio Seco Elementary School

  • Education Level: Middle
  • # of students: 980
  • # of teachers: 38
8
GreatSchools Rating

West Hills High School

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

$512,999$626,999$569,999

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,103
Property Tax -$578
Property Insurance -$59
Property Management Fees -$129
CASH FLOW
-$239

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.

$569,999

PROJECTED PRICE

$2,630

PROJECTED RENT

0.46%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,500
Loan Amount $427,499
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$36,404

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
  • $2,750

    COMP ESTIMATED VALUE
  • $2.2

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,3994$2,575
$2,575
RENT COMPS ANALYSIS
  • 9530 Lutheran Way Santee, CA 1
    • 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9539 Cottonwood Ave #f Santee, CA 2
    • 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
    •  
  • 8524 Dobyns Dr Santee, CA 4
    • 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
    •  
PROPERTY LISTING DETAILS
John Reeves
1.858.746.9214
Reef Point Realty, Inc
BESbswy