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11110 Socorro San Diego, CA 92129

4 Beds 2 Baths 1,670 sqft Built 1976

$949,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $568.26
  • 2 Days on Market
  • MLS # : 210005871
  • Updated Date : 03/07/2021 at 03:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,670 sqft
  • Baths : 2 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

This beautifully renovated home is truly a MUST See. Enjoy the privacy of this quiet street, relaxing backyard canyon breezes, plus plenty of open grass space to play. Located in a highly desirable neighborhood within walking distance to Rolling Hills Park and Elementary. Super clean and bright layout with newly replaced windows, new flooring throughout, modern eat-in kitchen and luxurious bathrooms. This one will not last!

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: Glens

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $233k798k

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

Neighborhood: Glens

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16273384

* 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
Rolling Hills Elementary School Primary Regular 430 16 9
Black Mountain Middle School Middle Regular 1,275 47 8
Mt. Carmel High School High Regular 2,014 47 9

Rolling Hills Elementary School

  • Education Level: Primary
  • # of students: 430
  • # of teachers: 16
9
GreatSchools Rating

Black Mountain Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 47
8
GreatSchools Rating

Mt. Carmel High School

  • Education Level: High
  • # of students: 2,014
  • # of teachers: 47
9
GreatSchools Rating
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$3,296
Property Tax -$876
Property Insurance -$69
Property Management Fees -$129
CASH FLOW
-$1,581

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.

$949,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.9%
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-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,296

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$91

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $2,989

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,790
1$2,7902$3,1003$3,2004$3,3005$3,495
$3,495
RENT COMPS ANALYSIS
  • 11110 Socorro San Diego, CA 1
    • 4 beds 2 baths ∙ 1,670 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,670 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.67
    •  
  • 11408 Caminito Corriente San Diego, CA 2
    • 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1989
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.69
    •  
  • 15240 Amalia St San Diego, CA 3
    • 4 beds 3 baths ∙ 1,826 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,826 Sqft ∙ Built 1977
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.75
    •  
  • 15369 Avenida Rorras San Diego, CA 4
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1987
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.79
    •  
  • 11044 Avenida De Los Lobos San Diego, CA 5
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1989
    LEASED 02/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.93
    •  
PROPERTY LISTING DETAILS
Christopher Plato
1.858.243.5405
Pacific Sotheby's Int'l Realty
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005871
Last Updated: 03/07/2021
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