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PROPERTY INFO
FACTS
- Single Family
- Built In 2000
- Price/Sqft : $869.00
- 14 Days on Market
- MLS # : 210004522
- Updated Date : 02/21/2021 at 03:31
CONSTRUCTION
- Beds : 3
- Floor Size : 1,000 sqft
- Baths : 2 full
Listing Agent
Professional R. E. Services
Listing Agent's Description
VARIANCE GRANTED- DETACHED. PERFECT HOME WITH A GRANNY FLAT IN BACK, BOTH HOMES HAVE A WOOD PICKET FENCE FOR SEPARATION GREAT NEIGHBORS SWEET!!!!!!! GREAT CURB APPEAL........TURN KEY PROPERTIES.....GREAT UP AND COMING AREA!!! PLENTY OF STREET PARKING. GOOD NEIGHBORS......WALK TO PETCO BALLPARK / DOWNTOWN GASLAMP........WHERE URBAN MEETS CULTURE..................NICE BACKYARD, ROOM TO GROW!!!! ZONED FOR AN EXTRA HOUSE...........PERFECT INCOME PROPERTY. A GOOD AIRBNB PROPERTY. BACK HOUSE HAS NICE OPEN FLOOR PLAN, USE AS GRANNY FLAT, BOTH UNITS HAVE LAUNDRY HOOKUPS, CITY JUST INSTALLED NEW GAS LINES.
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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: Grant Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Grant Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,650 |
| EXPENSES | Loan Payment | -$3,018 |
| Property Tax | -$844 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$1,394
|
||
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.
$869,000
PROJECTED PRICE
$2,650
PROJECTED RENT
0.30%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.15% |
| Appreciation Year (1-5) | 13.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.16% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$236,035
LOAN DETAILS
$3,018
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $217,250 |
| Loan Amount | $651,750 |
0.17
YEARS SAVED
$91
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
-
$2,515
COMP ESTIMATED VALUE -
$2.51
COMP AVG. RENT PER SQFT
Comps Range
-
2665 L Street San Diego, CA 1
- 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 2000
- Rent
- Rent Per SQFT
- $0
- $0.00
-
714 S S 28th St San Diego, CA 2
- 3 beds 1 baths ∙ 950 Sqft ∙ Built 2008 3 beds 1 baths ∙ 950 Sqft ∙ Built 2008
LEASED 05/20/20- Rent
- Rent Per SQFT
- $2,200
- $2.32
-
300 W Beech #503 San Diego, CA 3
- 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 2004
LEASED 07/27/20- Rent
- Rent Per SQFT
- $3,595
- $2.71
PROPERTY LISTING DETAILS
1.619.889.1393
Professional R. E. Services
MLS #: 210004522
Last Updated: 02/21/2021
