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2019 Meade Avenue San Diego, CA 92116

2 Beds 1 Baths 864 sqft Built 1930

$699,950

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1930
  • Price/Sqft : $810.13
  • 4 Days on Market
  • MLS # : 200053687
  • Updated Date : 12/11/2020 at 23:05
CONSTRUCTION
  • Beds : 2
  • Floor Size : 864 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Beautiful craftsman in desirable University Heights. Step into this meticulously renovated sun field home with newer hardwood floors, picture window, updated kitchen. with an open floor plan. Step into the amazing backyard through sliding windows which are accessible out of both bedrooms. Easy living in this low maintenance backyard perfect for entertaining, relaxing or creating artwork. Garage is equipped with storage unit as well as a space to park.

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $201k621k

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

Neighborhood: North Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $15142982

* 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
Birney Elementary School Primary Magnet 565 21 9
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Birney Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 21
9
GreatSchools Rating

Roosevelt International Middle School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 48
4
GreatSchools Rating

San Diego High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$629,955$769,945$699,950

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$2,583
Property Tax -$680
Property Insurance -$49
Property Management Fees -$129
CASH FLOW
-$1,310

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.

$699,950

PROJECTED PRICE

$2,130

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,237

INVESTMENT

$191,237

Down Payment
$174,988
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% 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 $174,988
Loan Amount $524,963
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$74

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
  • $2,125

    COMP ESTIMATED VALUE
  • $2.46

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9503$2,2504$2,4955$2,995
$2,995
RENT COMPS ANALYSIS
  • 2019 Meade Avenue San Diego, CA 1
    • 2 beds 1 baths ∙ 864 Sqft ∙ Built 1930 2 beds 1 baths ∙ 864 Sqft ∙ Built 1930
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3636 1st Avenue Hillcrest, CA 2
    • 2 beds 1 baths ∙ 880 Sqft ∙ Built 1950 2 beds 1 baths ∙ 880 Sqft ∙ Built 1950
    property image
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $2.22
    •  
  • 3465 Wightman St San Diego, CA 3
    • 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.58
    •  
  • 4616 Cherokee Ave San Diego, CA 4
    • 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $2.53
    •  
  • 3605 Herman Avenue San Diego, CA 5
    • 2 beds 1 baths ∙ 1,195 Sqft ∙ Built 1922 2 beds 1 baths ∙ 1,195 Sqft ∙ Built 1922
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.51
    •  
PROPERTY LISTING DETAILS
Roxanne Govari
1.619.778.0577
Compass
BESbswy