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12982 Orangeburg Avenue San Diego, CA 92129

3 Beds 2 Baths 1,571 sqft Built 1985

$795,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $506.05
  • 4 Days on Market
  • MLS # : 210001788
  • Updated Date : 01/22/2021 at 22:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,571 sqft
  • Baths : 2 full
Listing Agent

Homeearth Realty

Listing Agent's Description

Single story home with open layout and many perks and upgrades such as paid solar with battery, recently installed water softener, recently refinished exterior, recently remodeled low maintenance front and back yard, upgraded air ducts, tankless water heater, and dual pane windows. Wonderful home is conveniently close to all. Please see supplement section for list of improvements.

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: Ridgewood

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $233k798k

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

Neighborhood: Ridgewood

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
Canyon View Elementary School Primary Regular 524 22 10
Mesa Verde Middle School Middle Regular 1,273 48 9
Westview High School High Regular 2,283 56 10

Canyon View Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 22
10
GreatSchools Rating

Mesa Verde Middle School

  • Education Level: Middle
  • # of students: 1,273
  • # of teachers: 48
9
GreatSchools Rating

Westview High School

  • Education Level: High
  • # of students: 2,283
  • # of teachers: 56
10
GreatSchools Rating
 

$715,500$874,500$795,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$2,761
Property Tax -$734
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$721

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.

$795,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$216,425

INVESTMENT

$216,425

Down Payment
$198,750
Rehab Estimate
$5,750
Closing Costs
$11,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,761

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $198,750
Loan Amount $596,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$11,372

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
  • $2,981

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7503$2,9904$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 12982 Orangeburg Avenue San Diego, CA 1
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9581 Pipilo St San Diego, CA 2
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1987
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.96
    •  
  • 12948 Pine Manor Ct San Diego, CA 3
    • 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 1983
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.78
    •  
  • 8770 Rideabout Ln San Diego, CA 4
    • 3 beds 3 baths ∙ 1,585 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,585 Sqft ∙ Built 1987
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.89
    •  
  • 9446 Pipilo St San Diego, CA 5
    • 3 beds 3 baths ∙ 1,585 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,585 Sqft ∙ Built 1987
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.96
    •  
PROPERTY LISTING DETAILS
Catherine Nguyen
1.858.225.9207
Homeearth Realty
BESbswy