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10125 Hermosa Way La Mesa, CA 91941

4 Beds 3 Baths 2,030 sqft Built 1952

$1,000,000

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $492.61
  • 13 Days on Market
  • MLS # : 210002138
  • Updated Date : 01/26/2021 at 22:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,030 sqft
  • Baths : 2 full , 1 half
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

This beautiful property offers a 180 degree breathtaking panoramic views, a dark bottom pool w/ new equipment. It's a entertainers dream! A single story, has BONUS or bd room, formal dining room or bed room, lrg walk through shed, 2 car garage. The ktchn, fam rm, living rm, a bdrm, mstr bdrm and covered patio ALL enjoy the VIEW! Solar, dual pane windows, motion lights, new pavers in driveway, Mt Helix Park .5 miles/14 min walk. Fire place, large bay window, built in's, Mstr deck, fire pit, fruit trees,

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: Casa de Oro - Mount Helix

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650kPrice in $222k682k

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

Neighborhood: Casa de Oro - Mount Helix

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $15143140

* 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
Fuerte Elementary School Primary Regular 601 24 8
Hillsdale Middle School Middle Regular 1,502 59 7
Grossmont High School High Regular 2,394 92 7

Fuerte Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 24
8
GreatSchools Rating

Hillsdale Middle School

  • Education Level: Middle
  • # of students: 1,502
  • # of teachers: 59
7
GreatSchools Rating

Grossmont High School

  • Education Level: High
  • # of students: 2,394
  • # of teachers: 92
7
GreatSchools Rating
 

$900,000$1,100,000$1,000,000

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$3,473
Property Tax -$1,062
Property Insurance -$78
Property Management Fees -$129
CASH FLOW
-$1,402

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.

$1,000,000

PROJECTED PRICE

$3,340

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.3%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,750

INVESTMENT

$270,750

Down Payment
$250,000
Rehab Estimate
$5,750
Closing Costs
$15,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $250,000
Loan Amount $750,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$803

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
  • $3,309

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,500
$3,500
RENT COMPS ANALYSIS
  • 10125 Hermosa Way La Mesa, CA 1
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1952 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1159 Benjamin Pl El Cajon, CA 2
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1967
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
  • 9324 Carmichael Dr La Mesa, CA 3
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1957 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1957
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.52
    •  
PROPERTY LISTING DETAILS
Kirsten Palm
1.760.692.7021
Big Block Realty, Inc.
BESbswy