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2698 Wardlow Ave San Diego, CA 92154

6 Beds 4 Baths 2,118 sqft Built 1977

$695,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $328.14
  • 6 Days on Market
  • MLS # : 210001510
  • Updated Date : 01/19/2021 at 20:27
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,118 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Royal Realty

Listing Agent's Description

Original owner selling this large well maintained 6 bedroom 4 full bathroom house. Corner lot on quiet street with 2 car attached garage and plenty of street parking. Newer roof and exterior paint less than one year. Remodeled bathrooms and large bedrooms, 3 downstairs and 3 upstairs completed 10 years ago with permitted and professional addition.

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: Nestor

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $187k621k

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

Neighborhood: Nestor

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13322982

* 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
Nicoloff Elementary School Primary Regular 837 33 2
Nicoloff Elementary School Middle Regular 837 33 2
Southwest High School High Regular 1,717 60 4

Nicoloff Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 33
2
GreatSchools Rating

Nicoloff Elementary School

  • Education Level: Middle
  • # of students: 837
  • # of teachers: 33
2
GreatSchools Rating

Southwest High School

  • Education Level: High
  • # of students: 1,717
  • # of teachers: 60
4
GreatSchools Rating
 

$625,500$764,500$695,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,414
Property Tax -$680
Property Insurance -$80
Property Management Fees -$129
CASH FLOW
-$413

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.

$695,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 9.3%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$189,925

INVESTMENT

$189,925

Down Payment
$173,750
Rehab Estimate
$5,750
Closing Costs
$10,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,414

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $173,750
Loan Amount $521,250
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$23,828

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
  • $3,071

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,400
$3,400
RENT COMPS ANALYSIS
  • 2698 Wardlow Ave San Diego, CA 1
    • 6 beds 4 baths ∙ 2,118 Sqft ∙ Built 1977 6 beds 4 baths ∙ 2,118 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1570 Arequipa St San Diego, CA 2
    • 5 beds 3 baths ∙ 2,343 Sqft ∙ Built 1972 5 beds 3 baths ∙ 2,343 Sqft ∙ Built 1972
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.45
    •  
PROPERTY LISTING DETAILS
Sergio Rodriguez
1.619.808.5224
Coldwell Banker Royal Realty
BESbswy