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242 Donax Ave Imperial Beach, CA 91932

3 Beds 2 Baths 1,455 sqft Built 1952

$789,900

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1952
  • Price/Sqft : $542.89
  • 3 Days on Market
  • MLS # : 200051004
  • Updated Date : 11/06/2020 at 22:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,455 sqft
  • Baths : 2 full
Listing Agent

Century 21 Award

Listing Agent's Description

This Spanish style home is located within a few blocks of the beach. The large living room with fireplace is perfect for your entertaining. The kitchen has been updated and offers plenty of storage. The large master bedroom offers a walk in closet. The master bath features a double sink vanity and a jacuzzi tub, perfect for relaxing. The two other bedrooms are separate from the master bedroom. After a long day enjoy your spacious backyard which features several different fruit trees. See Supplement ...

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Imperial Beach

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Imperial Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
Imperial Beach Elementary School Primary Regular 921 38 6
Imperial Beach Elementary School Middle Regular 921 38 6
Mar Vista High School High Regular 1,685 58 4

Imperial Beach Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 38
6
GreatSchools Rating

Imperial Beach Elementary School

  • Education Level: Middle
  • # of students: 921
  • # of teachers: 38
6
GreatSchools Rating

Mar Vista High School

  • Education Level: High
  • # of students: 1,685
  • # of teachers: 58
4
GreatSchools Rating
 

$710,910$868,890$789,900

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$2,914
Property Tax -$829
Property Insurance -$64
Property Management Fees -$129
CASH FLOW
-$1,166

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.

$789,900

PROJECTED PRICE

$2,770

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$215,074

INVESTMENT

$215,074

Down Payment
$197,475
Rehab Estimate
$5,750
Closing Costs
$11,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,914

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $197,475
Loan Amount $592,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$969

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
  • $2,992

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6003$2,8004$3,000
$3,000
RENT COMPS ANALYSIS
  • 242 Donax Ave Imperial Beach, CA 1
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 841 15th Street San Diego, CA 2
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1958
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.21
    •  
  • 514 Dahlia Ave Imperial Beach, CA 3
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1947
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.03
    •  
  • 330 Donax Ave Imperial Beach, CA 4
    • 4 beds 3 baths ∙ 1,552 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,552 Sqft ∙ Built 1958
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.93
    •  
PROPERTY LISTING DETAILS
Diana Weinrieb
1.619.668.2851
Century 21 Award
BESbswy