Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1113 Elrose Ct San Diego, CA 92154

3 Beds 2 Baths 1,342 sqft Built 1966

$529,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $394.19
  • 2 Days on Market
  • MLS # : 210003279
  • Updated Date : 02/07/2021 at 01:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,342 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

What a great opportunity to fix up a home to suit your needs! This has been a family home for many, many years and it's ready for the next owner to move in and work their magic. If you're looking for a fixer, this is it! New roof in 2016, New A/C in May 2020! Amazing 9800sf lot!

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: Otay Mesa West

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $186k621k

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

Neighborhood: Otay Mesa West

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13532982

* 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
Southwest Middle School Middle Regular 675 33 2
Southwest High School High Regular 1,717 60 4

Southwest Middle School

  • Education Level: Middle
  • # of students: 675
  • # of teachers: 33
2
GreatSchools Rating

Southwest High School

  • Education Level: High
  • # of students: 1,717
  • # of teachers: 60
4
GreatSchools Rating
 

$476,100$581,900$529,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,837
Property Tax -$518
Property Insurance -$61
Property Management Fees -$129
CASH FLOW
-$275

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.

$529,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 8.1%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,935

INVESTMENT

$145,935

Down Payment
$132,250
Rehab Estimate
$5,750
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,837

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$21,464

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
  • $2,326

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,5504$3,150
$3,150
RENT COMPS ANALYSIS
  • 1113 Elrose Ct San Diego, CA 1
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 862 Picador San Diego, CA 2
    • 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1985
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.71
    •  
  • 1578 Bubbling Well Dr San Diego, CA 3
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1972
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.62
    •  
  • 1892 Katella St San Diego, CA 4
    • 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1977
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.87
    •  
PROPERTY LISTING DETAILS
Elsa Benedict
1.619.279.2536
Compass
BESbswy