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1908 E 8th St National City, CA 91950

2 Beds 1 Baths 837 sqft Built 1954

INVESTimate

$349,000

List Price

$1,810

$1,629 - $1,991

Rent Est.

$383,795  ( +9.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $416.97
  • 8 Days on Market
  • MLS # : 200040157
  • Updated Date : 08/24/2020 at 16:28
CONSTRUCTION
  • Beds : 2
  • Floor Size : 837 sqft
  • Baths : 1 full
Listing Agent

Active Realty

Listing Agent's Description

This house is ready for its new owner. Original hardwood floors. Huge backyard right next to the 805 freeway! Good sized rooms. Great potential to add square footage to the house.

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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: National City

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $175k594k

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

Neighborhood: National City

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12622885

* 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
Las Palmas School Primary Regular 689 27 5
Las Palmas School Middle Regular 689 27 5
Sweetwater High School High Regular 2,761 96 5

Las Palmas School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 27
5
GreatSchools Rating

Las Palmas School

  • Education Level: Middle
  • # of students: 689
  • # of teachers: 27
5
GreatSchools Rating

Sweetwater High School

  • Education Level: High
  • # of students: 2,761
  • # of teachers: 96
5
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,288
Property Tax -$389
Property Insurance -$48
Property Management Fees -$129
CASH FLOW
-$44

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.

$349,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 9.97%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$32,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $1,854

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,810
$1,810
RENT COMPS ANALYSIS
  • 1908 E 8th St National City, 3
    • 2 beds 1 baths ∙ 837 Sqft ∙ Built 1954 2 beds 1 baths ∙ 837 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $2.16
    •  
  • 1931 K #d National City, 1
    • 2 beds 2 baths ∙ 860 Sqft ∙ Built 1964 2 beds 2 baths ∙ 860 Sqft ∙ Built 1964
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $2.03
    •  
  • 631 629 J Ave National City, 2
    • 2 beds 1 baths ∙ 750 Sqft ∙ Built 1945 2 beds 1 baths ∙ 750 Sqft ∙ Built 1945
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $2.40
    •  
PROPERTY LISTING DETAILS
Zandra Ulloa
1.619.736.8008
Active Realty
BESbswy