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1410 Loring St San Diego, CA 92109

4 Beds 2 Baths 1,836 sqft Built 1959

$1,299,900

List Price

$4,480

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $708.01
  • 5 Days on Market
  • MLS # : 210005684
  • Updated Date : 03/06/2021 at 15:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,836 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Enjoy the unobstructable Bay View from the living room of this classic ranch style home located in a very desirable area of North Pacific Beach. Fireplace, open beams and built in bookcases in the living room, a vaulted open beam ceiling in the family room and a spacious open light and bright floorplan with lots of remodeling possibilities make this home a terrific investment. Oversized yards in both front and back of the house make this home great for playing and entertaining. Plenty of closet space and a small laundry room are additional features. First time on the market in over 50 years. Just an easy stroll to the beach, shopping and restaurants give you the best of beach living!

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: Pacific Beach

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $233k866k

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

Neighborhood: Pacific Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $16274083

* 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
Pacific Beach Elementary School Primary Regular 418 15 7
Pacific Beach Middle School Middle Regular 581 26 6
Mission Bay High School High Magnet 1,101 54 7

Pacific Beach Elementary School

  • Education Level: Primary
  • # of students: 418
  • # of teachers: 15
7
GreatSchools Rating

Pacific Beach Middle School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 26
6
GreatSchools Rating

Mission Bay High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 54
7
GreatSchools Rating
 

$1,169,910$1,429,890$1,299,900

PURCHASE PRICE

$4,032$4,928$4,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,480
EXPENSES Loan Payment -$4,515
Property Tax -$1,263
Property Insurance -$73
Property Management Fees -$129
CASH FLOW
-$1,500

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.

$1,299,900

PROJECTED PRICE

$4,480

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.1%
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$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

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

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$350,224

INVESTMENT

$350,224

Down Payment
$324,975
Rehab Estimate
$5,750
Closing Costs
$19,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,515

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $324,975
Loan Amount $974,925
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$5,983

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,480

    LIST RENT
  • $2.44

    LIST RENT PER SQFT
  • $4,673

    COMP ESTIMATED VALUE
  • $2.55

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,4803$4,6954$5,2005$5,500
$5,500
RENT COMPS ANALYSIS
  • 1410 Loring St San Diego, CA 2
    • 4 beds 2 baths ∙ 1,836 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,836 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $4,480
    • $2.44
    •  
  • 2245 Caminito Loreta La Jolla, CA 1
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1974
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.35
    •  
  • 5610 Calle Miramar La Jolla, CA 3
    • 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 1978
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,695
    • $2.28
    •  
  • 1326 Loring St San Diego, CA 4
    • 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 1959
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,200
    • $2.64
    •  
  • 1474 Chalcedony St Pacific Beach, CA 5
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1975
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.91
    •  
PROPERTY LISTING DETAILS
Marianne Kendall
1.619.708.3523
Coldwell Banker Realty
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005684
Last Updated: 03/06/2021
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