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10674 Chinon Cir San Diego, CA 92126

3 Beds 3 Baths 1,729 sqft Built 1991

INVESTimate

$839,900

List Price

$2,920

$2,670 - $3,170

Rent Est.

$901,633  ( +7.35%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $485.77
  • 5 Days on Market
  • MLS # : 200040782
  • Updated Date : 08/24/2020 at 20:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,729 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rc Realty Of San Diego

Listing Agent's Description

Ohh-la-la! Highly upgraded West end Mira Mesa Beauty. Home was completely remodeled within the past 2 years. New kitchen with quartz counter tops & stainless appliances. Remodeled bathrooms. New windows and 3 sliders w/nice window coverings. Newer furnace and A/C. Quality flooring - plush carpets in bedrooms. Serene back yard with tree views - lot extends beyond fence. Easy care turf landscaping. 2 patios. No HOA or mello-roos. Great neighbors! Walk to shopping at Camino Santa Fe/MM Blvd

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $225k746k

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

Neighborhood: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14823384

* 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
 

$755,910$923,890$839,900

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$3,099
Property Tax -$822
Property Insurance -$71
Property Management Fees -$129
CASH FLOW
-$1,200

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.

$839,900

PROJECTED PRICE

$2,920

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.35%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$228,324

INVESTMENT

$228,324

Down Payment
$209,975
Rehab Estimate
$5,750
Closing Costs
$12,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $209,975
Loan Amount $629,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,293

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
  • $3,242

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7503$3,100
$3,100
RENT COMPS ANALYSIS
  • 10674 Chinon Cir San Diego, 1
    • 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10880 Buckhurst Ave San Diego, 2
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1974
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.85
    •  
  • 10762 Westonhill Dr San Diego, 3
    • 4 beds 3 baths ∙ 1,628 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,628 Sqft ∙ Built 1996
    property image
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.90
    •  
PROPERTY LISTING DETAILS
Scott Chambless
1.858.705.2647
Rc Realty Of San Diego
BESbswy