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PROPERTY INFO
FACTS
- Single Family
- Built In 1974
- Price/Sqft : $547.58
- 2 Days on Market
- MLS # : 210004490
- Updated Date : 02/20/2021 at 20:40
CONSTRUCTION
- Beds : 3
- Floor Size : 1,240 sqft
- Baths : 2 full
Listing Agent
Compass
Listing Agent's Description
This move-in ready home shows true pride of ownership. Enjoy the spacious and open living room with a cozy fireplace, the stainless steel appliances in the kitchen, solar, the sunroom with additional living space for an office or extra room, the attached 2 car garage and so much more. Spacious master bedroom features a newly renovated bathroom & walk-in closet. Desirable single-story floor plan in a very central location with easy access to shopping, dining & entertainment on Mira Mesa Blvd, beaches, the 15, 52 and the 56 highways. This is a must see!
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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: Mira Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mira Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,460 |
| EXPENSES | Loan Payment | -$2,358 |
| Property Tax | -$664 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$750
|
||
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.
$679,000
PROJECTED PRICE
$2,460
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.41% |
| Appreciation Year (1-5) | 7.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.56% |
| 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
$185,685
LOAN DETAILS
$2,358
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $169,750 |
| Loan Amount | $509,250 |
1.33
YEARS SAVED
$4,400
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
-
$2,461
COMP ESTIMATED VALUE -
$1.98
COMP AVG. RENT PER SQFT
Comps Range
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10185 Westonhill Dr San Diego, CA 1
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- $2,300
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- $2,700
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10263 Baroness Avenue San Diego, CA 4
- 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972
LEASED 01/15/20- Rent
- Rent Per SQFT
- $2,750
- $1.90
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10762 Fenwick Rd San Diego, CA 5
- 4 beds 2 baths ∙ 1,462 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,462 Sqft ∙ Built 1974
LEASED 08/13/20- Rent
- Rent Per SQFT
- $3,100
- $2.12
PROPERTY LISTING DETAILS
1.619.449.1919
Compass
MLS #: 210004490
Last Updated: 02/20/2021
