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252 Coralwood Dr San Diego, CA 92114

3 Beds 2 Baths 1,051 sqft Built 1960

INVESTimate

$479,000

List Price

$2,050

$1,845 - $2,255

Rent Est.

$516,506  ( +7.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $455.76
  • 2 Days on Market
  • MLS # : 200041090
  • Updated Date : 08/25/2020 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,051 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker West

Listing Agent's Description

Ideal affordable family home opportunity! This home features a spacious kitchen, newer laminate flooring, large backyard with no neighbors behind, long drive way with potential RV/boat parking space and a 2 car garage. Home is on a quiet street close to schools, retail shopping, easy freeway access and much more! a

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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: Bay Terraces

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $186k621k

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

Neighborhood: Bay Terraces

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13602982

* 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
Boone Elementary School Primary Regular 523 22 4
Bell Middle School Middle Regular 912 44 3
Morse High School High Regular 1,808 83 5

Boone Elementary School

  • Education Level: Primary
  • # of students: 523
  • # of teachers: 22
4
GreatSchools Rating

Bell Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 44
3
GreatSchools Rating

Morse High School

  • Education Level: High
  • # of students: 1,808
  • # of teachers: 83
5
GreatSchools Rating
 

$431,100$526,900$479,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,767
Property Tax -$465
Property Insurance -$54
Property Management Fees -$129
CASH FLOW
-$365

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.

$479,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.83%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$16,091

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
  • $1,955

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,195
$2,195
RENT COMPS ANALYSIS
  • 252 Coralwood Dr San Diego, 1
    • 3 beds 2 baths ∙ 1,051 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,051 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6820 Panamint Row #3 San Diego, 2
    • 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 1980
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.86
    •  
PROPERTY LISTING DETAILS
Ruben Rodriguez
1.619.261.9814
Coldwell Banker West
BESbswy