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1320 Edgemont St San Diego, CA 92102

3 Beds 3 Baths 1,983 sqft Built 2016

$1,425,000

List Price

$3,770

$3.5K - $4K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $718.61
  • 3 Days on Market
  • MLS # : 210003857
  • Updated Date : 02/13/2021 at 18:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,983 sqft
  • Baths : 2 full , 1 half
Listing Agent

Melissa Goldstein Tucci

Listing Agent's Description

Custom built 2016 home in sought after South Park neighborhood with bay & downtown views! Stunning 3 bed/2.5 bath + bonus room/office & 1000 sqft in patios/rooftop deck! Owner/Builder built with high end features including: Cleaf cabinetry from Italy, Taj Mahal quartzite from Brazil, DuChateau white oak flooring from France & patio ceilings are Poly Ash from Australia & engineered cedar. Interior doors & all millwork are African Mahogany, LED lighting, dual pane windows, 3 zone HVAC system...see Supp.

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: South Park

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $223k725k

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

Neighborhood: South Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $15142982

* 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
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Roosevelt International Middle School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 48
4
GreatSchools Rating

San Diego High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$1,282,500$1,567,500$1,425,000

PURCHASE PRICE

$3,393$4,147$3,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,770
EXPENSES Loan Payment -$4,950
Property Tax -$1,384
Property Insurance -$77
Property Management Fees -$129
CASH FLOW
-$2,770

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$1,425,000

PROJECTED PRICE

$3,770

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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$3.0M$3.5M$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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$383,375

INVESTMENT

$383,375

Down Payment
$356,250
Rehab Estimate
$5,750
Closing Costs
$21,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,950

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $356,250
Loan Amount $1,068,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$66

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
  • $4,422

    COMP ESTIMATED VALUE
  • $2.23

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,700
$3,700
RENT COMPS ANALYSIS
  • 1320 Edgemont St San Diego, CA 1
    • 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1310 24th Street San Diego, CA 2
    • 3 beds 3 baths ∙ 1,661 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,661 Sqft ∙ Built 1996
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.23
    •  
PROPERTY LISTING DETAILS
Melissa Goldstein Tucci
1.619.787.6852
Melissa Goldstein Tucci
BESbswy