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2727 Granada Ave San Diego, CA 92104

4 Beds 4 Baths 2,226 sqft Built 1939

$1,499,999

List Price

$4,240

$4K - $4.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $673.85
  • 4 Days on Market
  • MLS # : 200051522
  • Updated Date : 11/14/2020 at 20:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,226 sqft
  • Baths : 3 full , 1 half
Listing Agent

The Associates Realty Group

Listing Agent's Description

Amazing property nestled on a quiet street minutes from Balboa Golf course located on a street known as La Jolla of North Park. 4 bed / 3.5 bath. Lots of natural sunlight and two fireplaces. This light and airy Contemporary style home has been extensively remodeled, Large master bath with separate tub and shower, Living room and dining room and kitchen are open to each other, Spacious kitchen features custom and brand new cabinets, Granite counter tops and Quartz counter-tops on the eating bar, farm sink.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$1,349,999$1,649,999$1,499,999

PURCHASE PRICE

$3,816$4,664$4,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,240
EXPENSES Loan Payment -$5,534
Property Tax -$1,457
Property Insurance -$83
Property Management Fees -$129
CASH FLOW
-$2,964

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.

$1,499,999

PROJECTED PRICE

$4,240

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$403,250

INVESTMENT

$403,250

Down Payment
$375,000
Rehab Estimate
$5,750
Closing Costs
$22,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$5,534

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $375,000
Loan Amount $1,124,999
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$123

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
  • $4,563

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,6503$4,750
$4,750
RENT COMPS ANALYSIS
  • 2727 Granada Ave San Diego, CA 1
    • 3 beds 3 baths ∙ 2,226 Sqft ∙ Built 1939 3 beds 3 baths ∙ 2,226 Sqft ∙ Built 1939
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2826 Ivy St San Diego, CA 2
    • 3 beds 2 baths ∙ 2,057 Sqft ∙ Built 1947 3 beds 2 baths ∙ 2,057 Sqft ∙ Built 1947
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.77
    •  
  • 2608 San Marcos Ave San Diego, CA 3
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 1924 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 1924
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.33
    •  
PROPERTY LISTING DETAILS
Hugo Munoz
1.760.617.9652
The Associates Realty Group
BESbswy