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1409 Brookes Ave San Diego, CA 92103

4 Beds 3 Baths 1,399 sqft Built 1913

$1,049,000

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1913
  • Price/Sqft : $749.82
  • 2 Days on Market
  • MLS # : 200050575
  • Updated Date : 11/03/2020 at 07:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,399 sqft
  • Baths : 2 full , 1 half
Listing Agent

Melissa Goldstein Tucci

Listing Agent's Description

Stunning newly remodeled 2 unit home in sought after Hillcrest! Bright open floorplan w/ 2 bed 1 bath upstairs & 2 bed 1.5 bath unit downstairs. Features include: newer roof, electrical,plumbing, flooring, updated kitchens with ss appliances & gas stoves, subway tile backsplash, neutral color palette with baseboard/trim details, central air & mini split system and each unit has laundry. 1 car detached garage. Large deck & enclosed patio adds 400 sq.ft of outdoor living space to enjoy canyon view location!

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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: Hillcrest

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $210k746k

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

Neighborhood: Hillcrest

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
Birney Elementary School Primary Magnet 565 21 9
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Birney Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 21
9
GreatSchools Rating

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
 

$944,100$1,153,900$1,049,000

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$3,870
Property Tax -$1,019
Property Insurance -$62
Property Management Fees -$129
CASH FLOW
-$1,801

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.

$1,049,000

PROJECTED PRICE

$3,280

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 4.7%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$124

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
  • $3,823

    COMP ESTIMATED VALUE
  • $2.73

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9953$3,3504$3,7005$4,100
$4,100
RENT COMPS ANALYSIS
  • 1409 Brookes Ave San Diego, CA 1
    • 4 beds 3 baths ∙ 1,399 Sqft ∙ Built 1913 4 beds 3 baths ∙ 1,399 Sqft ∙ Built 1913
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3781 Goldfinch San Diego, CA 2
    • 3 beds 1 baths ∙ 1,112 Sqft ∙ Built 1917 3 beds 1 baths ∙ 1,112 Sqft ∙ Built 1917
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.69
    •  
  • 3729 Indiana Street San Diego, CA 3
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1924
    property image
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.73
    •  
  • 3605 Texas St San Diego, CA 4
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1931
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.72
    •  
  • 306 Robinson Ave San Diego, CA 5
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1923
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.79
    •  
PROPERTY LISTING DETAILS
Melissa Goldstein Tucci
1.619.787.6852
Melissa Goldstein Tucci
BESbswy