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10518 Sea Mist Way San Diego, CA 92121

4 Beds 3 Baths 1,902 sqft Built 1996

$999,900

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $525.71
  • 2 Days on Market
  • MLS # : 210005870
  • Updated Date : 03/06/2021 at 20:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,902 sqft
  • Baths : 2 full , 1 half
Listing Agent

Regencyone Properties

Listing Agent's Description

Highly coveted Pacific Ridge home in Sorrento Valley; Walk to Los Penaquitos Canyon/Park; Close to Biotech Valley, UTC & La Jolla; Upgraded tile that looks like wood; Plantation shutter; Built in family cabinet & fireplace mantle; French door on bedroom; Upgrade bath cabinets and tiles; Generous backyard for entertaining; Canyon View; Popular biking trails, etc.

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: Sorrento Valley

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $233k1266k

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

Neighborhood: Sorrento Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000250030003500400045005000Rent in $16275309

* 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
Hickman Elementary School Primary Regular 581 21 9
Challenger Middle School Middle Regular 990 39 9
Mira Mesa High School High Regular 2,453 106 9

Hickman Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 21
9
GreatSchools Rating

Challenger Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 39
9
GreatSchools Rating

Mira Mesa High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 106
9
GreatSchools Rating
 

$899,910$1,099,890$999,900

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$3,473
Property Tax -$944
Property Insurance -$75
HOA -$17
Property Management Fees -$129
CASH FLOW
-$1,098

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.

$999,900

PROJECTED PRICE

$3,540

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.65%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.45%
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

PROJECTED ANNUAL CASH FLOW

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

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$270,724

INVESTMENT

$270,724

Down Payment
$249,975
Rehab Estimate
$5,750
Closing Costs
$14,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% 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 $249,975
Loan Amount $749,925
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$7,626

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
  • $3,620

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4953$3,6004$3,800
$3,800
RENT COMPS ANALYSIS
  • 10518 Sea Mist Way San Diego, CA 1
    • 4 beds 3 baths ∙ 1,902 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,902 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 11337 Carmel Creek Rd San Diego, CA 2
    • 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 1998
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.92
    •  
  • 5237 Setting Sun Way San Diego, CA 3
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1996
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.89
    •  
  • 10719 Passerine Way San Diego, CA 4
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1998
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.90
    •  
PROPERTY LISTING DETAILS
Michael Goh
1.858.395.8008
Regencyone Properties
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005870
Last Updated: 03/06/2021
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