Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2621 Boundary St San Diego, CA 92104

3 Beds 1 Baths 1,083 sqft Built 1951

INVESTimate

$745,000

List Price

$3,050

$2,800 - $3,300

Rent Est.

$800,801  ( +7.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1951
  • Price/Sqft : $687.90
  • 2 Days on Market
  • MLS # : 200041112
  • Updated Date : 08/26/2020 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,083 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Charming 3-bedroom/1-bath home on large lot (lot extends past rear fence to the alley)! Potential to add an additional dwelling unit (ADU) at rear of property (Buyer and Buyer's agent to verify and satisfy self prior to close of escrow).

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
Mckinley Elementary School Primary Regular 568 22 9
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Mckinley Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 22
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
 

$670,500$819,500$745,000

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

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-$10k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$2,749
Property Tax -$724
Property Insurance -$54
Property Management Fees -$129
CASH FLOW
-$606

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.

$745,000

PROJECTED PRICE

$3,050

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.49%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$203,175

INVESTMENT

$203,175

Down Payment
$186,250
Rehab Estimate
$5,750
Closing Costs
$11,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,749

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $186,250
Loan Amount $558,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$21,730

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
  • $3,397

    COMP ESTIMATED VALUE
  • $3.14

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4953$3,1504$4,000
$4,000
RENT COMPS ANALYSIS
  • 2621 Boundary St San Diego, 1
    • 3 beds 1 baths ∙ 1,083 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,083 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3852 37th Street San Diego, 2
    • 3 beds 2 baths ∙ 850 Sqft ∙ Built 1955 3 beds 2 baths ∙ 850 Sqft ∙ Built 1955
    property image
    LEASED 04/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $2.94
    •  
  • 3511 Florida St San Diego, 3
    • 3 beds 2 baths ∙ 940 Sqft ∙ Built 1950 3 beds 2 baths ∙ 940 Sqft ∙ Built 1950
    property image
    LEASED 05/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $3.35
    •  
  • 2022 Pentuckett San Diego, 4
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1956
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $3.13
    •  
PROPERTY LISTING DETAILS
Dave Hastings
1.858.413.2104
Keller Williams Realty
BESbswy