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1841 E Westinghouse St San Diego, CA 92111

3 Beds 2 Baths 1,056 sqft Built 1942

INVESTimate

$699,999

List Price

$2,450

$2,205 - $2,695

Rent Est.

$751,169  ( +7.31%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1942
  • Price/Sqft : $662.88
  • 8 Days on Market
  • MLS # : 200040156
  • Updated Date : 08/25/2020 at 09:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,056 sqft
  • Baths : 2 full
Listing Agent

Active Realty

Listing Agent's Description

Situated in the heart of Linda Vista this spectacular single story home features tons of natural sunlight, 3 spacious bedrooms, 2 full baths & an additional guest quarters with a separate entrance that can be approved as a ADU. Fully flipped in 2017, this pride of ownership home has quartz counters, recessed lights, wood floors, stainless steel appliances & newer dual pane windows throughout.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

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
 

$629,999$769,999$699,999

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$2,583
Property Tax -$680
Property Insurance -$54
Property Management Fees -$129
CASH FLOW
-$995

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.

$699,999

PROJECTED PRICE

$2,450

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.31%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $524,999
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,519

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $2.32

    LIST RENT PER SQFT
  • $2,181

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,750
$2,750
RENT COMPS ANALYSIS
  • 1841 E Westinghouse St San Diego, 1
    • 3 beds 2 baths ∙ 1,056 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,056 Sqft ∙ Built 1942
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $2.32
    •  
  • 6921 Sperry Ct San Diego, 2
    • 3 beds 2 baths ∙ 1,192 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,192 Sqft ∙ Built 1946
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.10
    •  
  • 8672 Harjoan Ave San Diego, 3
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1962
    property image
    LEASED 03/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.03
    •  
PROPERTY LISTING DETAILS
Zandra Ulloa
1.619.736.8008
Active Realty
BESbswy