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2445 Madroncillo St San Diego, CA 92114

4 Beds 3 Baths 1,881 sqft Built 1978

$679,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $360.98
  • 17 Days on Market
  • MLS # : 210004979
  • Updated Date : 02/26/2021 at 23:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,881 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Your buyers will feel like they hit the lotto when they see this home! Quiet, cul-de-sac location, on a 13,900 s.f. low maintenance lot with pool, gazebo, expansive lawn and terraced hillside. The hilltop has a horseshoe game area, fountain and elevated seating with views of the San Diego skyline and Pt. Loma. The interior of the home boasts a tile entry, living room with vaulted ceiling and an updated stone fireplace with a custom wood mantle. Three master suites with en suite baths that have all been remodeled. Two of the bedrooms are located downstairs and two up. All windows are updated throughout and French sliders leading to the backyard. The eat-in kitchen has solid wood cabinets, a breakfast bar island and plenty of room for a large dining table. There is a vaulted attic space the owner had planned on converting to another room at the end of the upstairs hall. There is direct access to the two car garage with washer dryer area and lots of cabinets for storage.

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MARKET HIGHLIGHTS

  • 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)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Lemon Grove

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $187k621k

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

Neighborhood: Lemon Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12822982

* 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
Mount Miguel High School High Regular 1,483 68 4
Mount Miguel High School High Unknown NA

Mount Miguel High School

  • Education Level: High
  • # of students: 1,483
  • # of teachers: 68
4
GreatSchools Rating

Mount Miguel High School

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

$611,100$746,900$679,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,358
Property Tax -$683
Property Insurance -$75
Property Management Fees -$129
CASH FLOW
-$335

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.

$679,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$185,685

INVESTMENT

$185,685

Down Payment
$169,750
Rehab Estimate
$5,750
Closing Costs
$10,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,358

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $169,750
Loan Amount $509,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$28,758

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
  • $3,217

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,795
$2,795
RENT COMPS ANALYSIS
  • 2445 Madroncillo St San Diego, CA 1
    • 4 beds 3 baths ∙ 1,881 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,881 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7508 Easthill Dr San Diego, CA 2
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.71
    •  
PROPERTY LISTING DETAILS
Jennifer Ross
1.619.985.7340
Coldwell Banker Realty
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210004979
Last Updated: 02/26/2021
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