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1014 Johnson Ave San Diego, CA 92103

3 Beds 4 Baths 2,256 sqft Built 1978

$1,050,000

List Price

$4,170

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $465.43
  • 6 Days on Market
  • MLS # : 210004072
  • Updated Date : 02/19/2021 at 16:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,256 sqft
  • Baths : 3 full , 1 half
Listing Agent

Team Metro

Listing Agent's Description

Unique one of a kind home nestled on a quiet canyon in University Heights. This home, built in the 70's is reminiscent of Mid-Century architecture. Clean lines, high wood beamed ceilings and an abundance of windows allow for warm and inviting natural light. Open floor plan w/ gourmet kitchen and Master at entry level with 2 additional bedrooms & large office downstairs. Wrap around decks and balconies on 3/4 acre of land. This light fixer is perfect for the handy home owner or investor.

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: University Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $189k746k

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

Neighborhood: University Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16033384

* 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
Birney Elementary School Primary Magnet 565 21 9
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Birney Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 21
9
GreatSchools Rating

Roosevelt International Middle School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 48
4
GreatSchools Rating

San Diego High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$945,000$1,155,000$1,050,000

PURCHASE PRICE

$3,753$4,587$4,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,170
EXPENSES Loan Payment -$3,647
Property Tax -$1,020
Property Insurance -$84
Property Management Fees -$129
CASH FLOW
-$710

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,050,000

PROJECTED PRICE

$4,170

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$284,000

INVESTMENT

$284,000

Down Payment
$262,500
Rehab Estimate
$5,750
Closing Costs
$15,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,647

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $262,500
Loan Amount $787,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$28,401

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
  • $4,354

    COMP ESTIMATED VALUE
  • $1.93

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,700
$3,700
RENT COMPS ANALYSIS
  • 1014 Johnson Ave San Diego, CA 1
    • 3 beds 4 baths ∙ 2,256 Sqft ∙ Built 1978 3 beds 4 baths ∙ 2,256 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4424 Caminito Fuente San Diego, CA 2
    • 3 beds 3 baths ∙ 1,916 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,916 Sqft ∙ Built 1974
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.93
    •  
PROPERTY LISTING DETAILS
Jamie Hopkins
1.619.250.6634
Team Metro
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210004072
Last Updated: 02/19/2021
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