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2006 Lincoln Ave 
San Diego, CA
92104
2 Beds 2 Baths 836 sqft
Built 1924
INVESTimate
$619,000
List Price
$169,785
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PROPERTY INFO
FACTS
- Built In 1924
- Price/Sqft : $740.43
- 3 Days on Market
- MLS # : 200040893
- Updated Date : 08/25/2020 at 21:53
CONSTRUCTION
- Beds : 2
- Floor Size : 836 sqft
- Baths : 2 full
Listing Agent
Michael Alves
Listing Agent's Description
Don't miss out on this North Park Gem!!! This cozy cottage is located on the border of North Park and University Heights, just walking distance to some of the city's best restaurants and bars. Easy access to all major freeways, and just blocks to the Famous World Famous San Diego Zoo. This one wont last long. Motivated seller, Bring in all offers.
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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: North Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,070 |
| EXPENSES | Loan Payment | -$2,284 |
| Property Tax | -$601 | |
| Property Insurance | -$48 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$992
|
||
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.
$619,000
PROJECTED PRICE
$2,070
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 7.49% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.80% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$169,785
LOAN DETAILS
$2,284
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $154,750 |
| Loan Amount | $464,250 |
0.25
YEARS SAVED
$276
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,070
LIST RENT -
$2.48
LIST RENT PER SQFT
-
$1,827
COMP ESTIMATED VALUE -
$2.19
COMP AVG. RENT PER SQFT
Comps Range
-
2006 Lincoln Ave San Diego, 2
- 2 beds 2 baths ∙ 836 Sqft ∙ Built 1924 2 beds 2 baths ∙ 836 Sqft ∙ Built 1924
- Rent
- Rent Per SQFT
- $2,070
- $2.48
-
4083 Albatross San Diego, 1
- 2 beds 1 baths ∙ 950 Sqft ∙ Built 1911 2 beds 1 baths ∙ 950 Sqft ∙ Built 1911
LEASED 02/23/20- Rent
- Rent Per SQFT
- $1,750
- $1.84
-
4616 Cherokee Ave San Diego, 3
- 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939
LEASED 07/20/20- Rent
- Rent Per SQFT
- $2,495
- $2.53
PROPERTY LISTING DETAILS
1.619.300.1715
Michael Alves
