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2311 Darlington Row La Jolla, CA 92037

5 Beds 3 Baths 2,716 sqft Built 1998

$1,699,000

List Price

$5,850

$5.6K - $6.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $625.55
  • 3 Days on Market
  • MLS # : 210003207
  • Updated Date : 02/06/2021 at 00:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,716 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Turnkey property! Corner lot at the top of the hill on a flat street with only one neighbor. Perfect for privacy seekers and a great place for the kids to play. City views to the east from the highest point in the luxury gated community. Spacious home with wonderful vaulted ceilings, natural light, beautifully remodeled kitchen and hardwood floors throughout. Third stall in the garage was converted for an optimal office, gym or 5th bedroom separate from the house. This home...See Supplement.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Soledad South

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $240k1432k

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

Neighborhood: Soledad South

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000Rent in $16276370

* 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
La Jolla Elementary School Primary Regular 595 25 10
Muirlands Middle School Middle Regular 1,033 41 9
La Jolla High School High Regular 1,588 59 9

La Jolla Elementary School

  • Education Level: Primary
  • # of students: 595
  • # of teachers: 25
10
GreatSchools Rating

Muirlands Middle School

  • Education Level: Middle
  • # of students: 1,033
  • # of teachers: 41
9
GreatSchools Rating

La Jolla High School

  • Education Level: High
  • # of students: 1,588
  • # of teachers: 59
9
GreatSchools Rating
 

$1,529,100$1,868,900$1,699,000

PURCHASE PRICE

$5,265$6,435$5,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,850
EXPENSES Loan Payment -$5,901
Property Tax -$1,636
Property Insurance -$95
HOA -$350
Property Management Fees -$129
CASH FLOW
-$2,262

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,699,000

PROJECTED PRICE

$5,850

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$455,985

INVESTMENT

$455,985

Down Payment
$424,750
Rehab Estimate
$5,750
Closing Costs
$25,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$5,901

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $424,750
Loan Amount $1,274,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,734

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
  • $6,226

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,5003$5,9004$6,0005$6,800
$6,800
RENT COMPS ANALYSIS
  • 2311 Darlington Row La Jolla, CA 1
    • 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2305 Falkirk Row La Jolla, CA 2
    • 4 beds 4 baths ∙ 2,554 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,554 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.15
    •  
  • 6535 Caminito Northland La Jolla, CA 3
    • 3 beds 3 baths ∙ 2,800 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,800 Sqft ∙ Built 1979
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,900
    • $2.11
    •  
  • 1681 Paseo Bonita La Jolla, CA 4
    • 4 beds 3 baths ∙ 2,533 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,533 Sqft ∙ Built 1980
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $2.37
    •  
  • 6554 Caminito Northland La Jolla, CA 5
    • 3 beds 3 baths ∙ 2,679 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,679 Sqft ∙ Built 1979
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,800
    • $2.54
    •  
PROPERTY LISTING DETAILS
Eugenia Garcia-ovies
1.619.987.4851
Compass
BESbswy