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11074 Virgo Pl San Diego, CA 92126

4 Beds 2 Baths 1,614 sqft Built 1972

$839,900

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $520.38
  • 5 Days on Market
  • MLS # : 210000310
  • Updated Date : 01/08/2021 at 23:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,614 sqft
  • Baths : 2 full
Listing Agent

Rc Realty Of San Diego

Listing Agent's Description

Value Range: $789,900-$839,900 - Remodeled Home! Open floorplan & vaulted ceilings lets natural light in. Spacious kitchen w/granite counters, large center island w/extra storage. New appliances. Bathrooms remodeled w/new tiled walls & floors. New flooring throughout, vinyl double pane windows, newer roof w/solar panels (solar leased, avg $130 electric bill) Super backyard w/turf & large covered patio NEW built in bar-b-que. New water wise front yard landscaping. Newer furnace. Stacked rock exterior.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Ericson Elementary School Primary Regular 738 28 9
Wangenheim Middle School Middle Regular 912 39 7
Mira Mesa High School High Regular 2,453 106 9

Ericson Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 28
9
GreatSchools Rating

Wangenheim Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 39
7
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

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,917
Property Tax -$792
Property Insurance -$68
HOA -$41
Property Management Fees -$129
CASH FLOW
-$957

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

$2,990

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,917

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $209,975
Loan Amount $629,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,384

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,990

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $3,139

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,7503$2,7754$2,9505$2,990
$2,990
RENT COMPS ANALYSIS
  • 11074 Virgo Pl San Diego, CA 5
    • 4 beds 2 baths ∙ 1,614 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,614 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.85
    •  
  • 11374 Pegasus Ave San Diego, CA 1
    • 4 beds 2 baths ∙ 1,366 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,366 Sqft ∙ Built 1977
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.97
    •  
  • 10880 Buckhurst Ave San Diego, CA 2
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1974
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.85
    •  
  • 11067 Alonda Court San Diego, CA 3
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1986
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $1.99
    •  
  • 8630 Cetus Road San Diego, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1978
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.97
    •  
PROPERTY LISTING DETAILS
Scott Chambless
1.858.705.2647
Rc Realty Of San Diego
BESbswy