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1626 La Mesa Avenue Spring Valley, CA 91977

3 Beds 2 Baths 1,616 sqft Built 1978

$499,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $308.79
  • 3 Days on Market
  • MLS # : 210001256
  • Updated Date : 01/16/2021 at 18:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,616 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Sd Metro

Listing Agent's Description

Welcome to this fabulous split level 3BR 2BA family home on top of Dictionary Hill in Spring Valley. This property, with its huge lot and amazing unobstructed views as far as the eye can see, has big ticket improvements such as new leased solar, new roof, windows, HVAC, water heater and exterior paint. Hurry as this property is perfect for those looking for a great family home or investment property located on the top of the world!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: La Presa

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: La Presa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
Sweetwater Springs Elementary School Primary Regular 572 19 6
Sweetwater Springs Elementary School Middle Regular 572 19 6
Monte Vista High School High Regular 1,657 76 7

Sweetwater Springs Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 19
6
GreatSchools Rating

Sweetwater Springs Elementary School

  • Education Level: Middle
  • # of students: 572
  • # of teachers: 19
6
GreatSchools Rating

Monte Vista High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 76
7
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,733
Property Tax -$532
Property Insurance -$68
Property Management Fees -$129
CASH FLOW
$8

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$499,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$45,218

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
  • $2,704

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4953$2,5504$3,000
$3,000
RENT COMPS ANALYSIS
  • 1626 La Mesa Avenue Spring Valley, CA 1
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2390 Bar Bit Rd Spring Valley, CA 2
    • 4 beds 2 baths ∙ 1,445 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,445 Sqft ∙ Built 1974
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.73
    •  
  • 1214 Cuyamaca Ave Spring Valley, CA 3
    • 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 1988
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.55
    •  
  • 10008 Ledgeside St Spring Valley, CA 4
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1976
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
PROPERTY LISTING DETAILS
John Summerfruit
1.619.850.5390
Keller Williams Sd Metro
BESbswy