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1568 Borana St San Diego, CA 92111

5 Beds 3 Baths 1,617 sqft Built 1962

$815,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $504.02
  • 4 Days on Market
  • MLS # : 210007709
  • Updated Date : 03/27/2021 at 00:42
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,617 sqft
  • Baths : 3 full
Listing Agent

Re/max Associates

Listing Agent's Description

This is a very unique property. This 4 bedroom 2 bath home has been completely upgraded (see attached associated docs). Too many custom and design finishes to list here. But when you enter the living room you will see the tasteful flooring and paint colors. The kitchen is a chefs dream with the Thermador gas range, Shinnoki self closing cabinets and stone counters. Cabinet depth refrigerator and Thermador dishwasher, custom lighting includes under cabinet LED and 3 kitchen counter hanging sconces. Kitchen and dinning area has custom tile flooring, the rest of the house has wide plank hardwood flooring. The bathrooms have been gutted and remodeled with custom tile, Kohler fixtures, glass shower doors and high efficiency exhaust fans. @00 amp electrical panel, dual pane Milgard windows and slider, new 500 sq ft patio, new drought plants with auto drip, new canvas awnings. The other side of the house is perfect for a mother/father in law/student/rental complete with bedroom/kitchen/living room/family room and bath and it's own entrance.

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: Linda Vista

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $195k621k

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

Neighborhood: Linda Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14072982

* 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
Carson Elementary School Primary Regular 474 21 4
Montgomery Middle School Middle Regular 475 27 3
Kearney High School High Magnet 322 16 6

Carson Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 21
4
GreatSchools Rating

Montgomery Middle School

  • Education Level: Middle
  • # of students: 475
  • # of teachers: 27
3
GreatSchools Rating

Kearney High School

  • Education Level: High
  • # of students: 322
  • # of teachers: 16
6
GreatSchools Rating
 

$733,500$896,500$815,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$2,831
Property Tax -$792
Property Insurance -$68
Property Management Fees -$129
CASH FLOW
-$519

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.

$815,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$221,725

INVESTMENT

$221,725

Down Payment
$203,750
Rehab Estimate
$5,750
Closing Costs
$12,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,831

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $203,750
Loan Amount $611,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$26,284

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
  • $3,439

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4003$3,4754$4,200
$4,200
RENT COMPS ANALYSIS
  • 1568 Borana St San Diego, CA 1
    • 5 beds 3 baths ∙ 1,617 Sqft ∙ Built 1962 5 beds 3 baths ∙ 1,617 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6601 Alcala Knolls Dr. San Diego, CA 2
    • 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1963
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.10
    •  
  • 6555 High Knoll Rd San Diego, CA 3
    • 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1980
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,475
    • $2.06
    •  
  • 2186 W California Street San Diego, CA 4
    • 4 beds 3 baths ∙ 1,893 Sqft ∙ Built 1943 4 beds 3 baths ∙ 1,893 Sqft ∙ Built 1943
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.22
    •  
PROPERTY LISTING DETAILS
Trisha Daly
1.858.848.5757
Re/max Associates
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210007709
Last Updated: 03/27/2021
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