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1058 Woodrow Ave San Diego, CA 92114

3 Beds 2 Baths 1,410 sqft Built 1970

$579,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $410.64
  • 11 Days on Market
  • MLS # : 210000354
  • Updated Date : 01/12/2021 at 19:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,410 sqft
  • Baths : 2 full
Listing Agent

Home Solutions Group

Listing Agent's Description

UPGRADED family home with great backyard in desirable area!! Newer Hardwood-style flooring throughout, designer interior paints and a well manicured, low maintenance backyard with artificial grass and even a life-sized play house in the backyard!! Home comes with central heat/air and ceiling fans throughout. Separate Laundry room, tiled kitchen and baths, overhead microwave and refrigerator included!! Close to 32nd St and Coronado Naval Bases, as well as shopping and trolley nearby!

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: Jamacha Lomita

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $173k621k

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

Neighborhood: Jamacha Lomita

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13272982

* 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
Monterey Heights Elementary School Primary Regular 464 18 4
Monterey Heights Elementary School Middle Regular 464 18 4
Mount Miguel High School High Regular 1,483 68 4

Monterey Heights Elementary School

  • Education Level: Primary
  • # of students: 464
  • # of teachers: 18
4
GreatSchools Rating

Monterey Heights Elementary School

  • Education Level: Middle
  • # of students: 464
  • # of teachers: 18
4
GreatSchools Rating

Mount Miguel High School

  • Education Level: High
  • # of students: 1,483
  • # of teachers: 68
4
GreatSchools Rating
 

$521,100$636,900$579,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,011
Property Tax -$586
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
-$389

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.

$579,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.3%
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$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,011

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$16,922

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
  • $2,298

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6503$2,700
$2,700
RENT COMPS ANALYSIS
  • 1058 Woodrow Ave San Diego, CA 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1325 Manzana Way San Diego, CA 2
    • 4 beds 3 baths ∙ 1,701 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,701 Sqft ∙ Built 1986
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.56
    •  
  • 2408 Manzana Way San Diego, CA 3
    • 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1986
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.70
    •  
PROPERTY LISTING DETAILS
Jim Tyner
1.619.392.4074
Home Solutions Group
BESbswy