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11821 Innis Pt San Diego, CA 92126

2 Beds 2 Baths 1,008 sqft Built 1976

INVESTimate

$685,500

List Price

$2,400

$2,160 - $2,640

Rent Est.

$735,884  ( +7.35%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1976
  • Price/Sqft : $680.06
  • 9 Days on Market
  • MLS # : 200039871
  • Updated Date : 08/26/2020 at 08:29
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,008 sqft
  • Baths : 2 full
Listing Agent

Homesmart Realty West

Listing Agent's Description

Enjoy this charming single story home on large lot at the end of a cul-de-sac. Spacious sunroom functions as an additional room. Fully remodeled kitchen with a country feel, remodeled bathrooms. Inside laundry room, 2 car garage. Short walk to parks with ocean views. A 5 min drive to shopping and restaurants. Quick access to freeways. Private yet close to everything.

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
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
 

$616,950$754,050$685,500

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,529
Property Tax -$671
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$981

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.

$685,500

PROJECTED PRICE

$2,400

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$187,408

INVESTMENT

$187,408

Down Payment
$171,375
Rehab Estimate
$5,750
Closing Costs
$10,283

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,529

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $171,375
Loan Amount $514,125
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,120

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
  • $2,205

    COMP ESTIMATED VALUE
  • $2.19

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8503$1,9504$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 11821 Innis Pt San Diego, 1
    • 2 beds 2 baths ∙ 1,008 Sqft ∙ Built 1976 2 beds 2 baths ∙ 1,008 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8434 Summerdale Road #b San Diego, 2
    • 2 beds 2 baths ∙ 884 Sqft ∙ Built 1979 2 beds 2 baths ∙ 884 Sqft ∙ Built 1979
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $2.09
    •  
  • 11145 Camino Ruiz #39 San Diego, 3
    • 2 beds 2 baths ∙ 866 Sqft ∙ Built 1986 2 beds 2 baths ∙ 866 Sqft ∙ Built 1986
    LEASED 03/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $2.25
    •  
  • 8503 Summerdale Rd #370 San Diego, 4
    • 2 beds 2 baths ∙ 897 Sqft ∙ Built 1987 2 beds 2 baths ∙ 897 Sqft ∙ Built 1987
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $2.23
    •  
  • 8438 Capricorn Way #16 San Diego, 5
    • 2 beds 2 baths ∙ 964 Sqft ∙ Built 1982 2 beds 2 baths ∙ 964 Sqft ∙ Built 1982
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $2.18
    •  
PROPERTY LISTING DETAILS
Judy Szamos
1.760.815.0489
Homesmart Realty West
BESbswy