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992 Ednabelle Ct El Cajon, CA 92021

5 Beds 2 Baths 1,562 sqft Built 1960

$475,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $304.10
  • 5 Days on Market
  • MLS # : 200053036
  • Updated Date : 12/05/2020 at 23:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,562 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Turn-key single level home sitting on a large lot is ready to be made yours and features great curb appeal, luxury vinyl flooring, fresh paint, and a spacious floorplan! The living room has a fireplace with full wall stone feature and opens to the dining area. The kitchen has charming turquoise cabinetry, and butcher block countertops.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: El Cajon

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $170k594k

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

Neighborhood: El Cajon

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13462885

* 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
Naranca Elementary School Primary Regular 817 34 2
Cajon Valley Middle School Middle Regular 882 39 3
El Cajon Valley High School High Regular 1,720 80 4

Naranca Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 34
2
GreatSchools Rating

Cajon Valley Middle School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 39
3
GreatSchools Rating

El Cajon Valley High School

  • Education Level: High
  • # of students: 1,720
  • # of teachers: 80
4
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,753
Property Tax -$482
Property Insurance -$66
Property Management Fees -$129
CASH FLOW
$0

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.

$475,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$51,718

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
  • $2,655

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,095
$3,095
RENT COMPS ANALYSIS
  • 992 Ednabelle Ct El Cajon, CA 1
    • 5 beds 2 baths ∙ 1,562 Sqft ∙ Built 1960 5 beds 2 baths ∙ 1,562 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 963 Pear St El Cajon, CA 2
    • 6 beds 2 baths ∙ 1,825 Sqft ∙ Built 1959 6 beds 2 baths ∙ 1,825 Sqft ∙ Built 1959
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.70
    •  
PROPERTY LISTING DETAILS
Charles Wheeler
1.267.242.7565
Redfin Corporation
BESbswy