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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $422.94
- 5 Days on Market
- MLS # : 210003578
- Updated Date : 02/11/2021 at 06:37
CONSTRUCTION
- Beds : 3
- Floor Size : 1,369 sqft
- Baths : 2 full
Listing Agent
Compass
Listing Agent's Description
Beautifully updated single level home on a large, flat lot. Cul-de-sac lot offers privacy & plenty of outdoor space with potential for addition/ADU. Recent upgrades include designer kitchen with stainless appliances, massive 13' double slider doors, expanded master bath, multi zoned HVAC, partial new roofing, updated hall bath, new garage slab, vinyl fencing & a hot tub! Open floor plan is excellent for indoor/outdoor entertaining. Low solar lease controls the costs so you can enjoy it all year round!
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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: Bostonia
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Bostonia
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,660 |
| EXPENSES | Loan Payment | -$2,011 |
| Property Tax | -$585 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$127
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$579,000
PROJECTED PRICE
$2,660
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.15% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.16% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$159,185
LOAN DETAILS
$2,011
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $144,750 |
| Loan Amount | $434,250 |
5.92
YEARS SAVED
$38,841
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,765
COMP ESTIMATED VALUE -
$2.02
COMP AVG. RENT PER SQFT
Comps Range
-
962 Wilfred Street El Cajon, CA 1
- 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1962
![property image]()
- Rent
- Rent Per SQFT
- $0
- $0.00
-
1628 Summertime Dr El Cajon, CA 2
- 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1974
![property image]()
LEASED 09/06/20- Rent
- Rent Per SQFT
- $2,300
- $2.02
PROPERTY LISTING DETAILS
1.858.869.3292
Compass
