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

1210 3rd Street Coronado, CA 92118

3 Beds 2 Baths 1,546 sqft Built 1938

$1,499,000

List Price

$3,760

$3.5K - $4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1938
  • Price/Sqft : $969.60
  • 26 Days on Market
  • MLS # : 210000269
  • Updated Date : 01/24/2021 at 16:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,546 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Welcome home to this beautiful Coronado Classic Beach House. You will love this single story characteristics the moment you open the front door with it's beautiful wood floors & rich textures of the formal dining rm. The floorplan transitions indoor-outdoor experiences from all parts of the home with the sunroom connecting to the patio. The kitchen is light & bright has a breakfast nook which is perfect to start your day. The kitchen, laundry, bathrooms have been remolded retaining the integrity & charm

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: Coronado Beach South Island

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $240k1663k

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

Neighborhood: Coronado Beach South Island

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000250030003500400045005000Rent in $16275173

* 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
Coronado Village Elementary School Primary Regular 841 32 8
Coronado Middle School Middle Regular 750 30 10
Coronado High School High Regular 1,193 54 9

Coronado Village Elementary School

  • Education Level: Primary
  • # of students: 841
  • # of teachers: 32
8
GreatSchools Rating

Coronado Middle School

  • Education Level: Middle
  • # of students: 750
  • # of teachers: 30
10
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 54
9
GreatSchools Rating
 

$1,349,100$1,648,900$1,499,000

PURCHASE PRICE

$3,384$4,136$3,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,760
EXPENSES Loan Payment -$5,207
Property Tax -$1,375
Property Insurance -$66
Property Management Fees -$129
CASH FLOW
-$3,017

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.

$1,499,000

PROJECTED PRICE

$3,760

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.5%
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$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$402,985

INVESTMENT

$402,985

Down Payment
$374,750
Rehab Estimate
$5,750
Closing Costs
$22,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$5,207

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $374,750
Loan Amount $1,124,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$28

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,760

    LIST RENT
  • $2.43

    LIST RENT PER SQFT
  • $3,780

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,7603$3,995
$3,995
RENT COMPS ANALYSIS
  • 1210 3rd Street Coronado, CA 2
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $3,760
    • $2.43
    •  
  • 1200 5th Street Coronado, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1950
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.50
    •  
  • 1414 4th Street Coronado, CA 3
    • 4 beds 2 baths ∙ 1,672 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,672 Sqft ∙ Built 1953
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.39
    •  
PROPERTY LISTING DETAILS
Barbara Wamhoff
1.619.517.8880
Compass
BESbswy