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2760 K St San Diego, CA 92102

2 Beds 2 Baths 824 sqft Built 1918

$649,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1918
  • Price/Sqft : $787.62
  • 3 Days on Market
  • MLS # : 210005062
  • Updated Date : 02/28/2021 at 05:05
CONSTRUCTION
  • Beds : 2
  • Floor Size : 824 sqft
  • Baths : 1 full , 1 half
Listing Agent

Tranquility Real Estate Svcs.

Listing Agent's Description

Don't miss this Craftsman home in Grant Hill! High ceilings give a light and airy feel and lots of natural light. 2 bedroom, 1.5 bath with an extra room off the Master for work at home, exercise room, or art studio. Upgrades by sellers in last 2 years include: garbage disposal, oven, microwave/vent, new light fixtures and fans in every room, dishwasher, washer/dryer. Back yard has been upgraded to include low water native landscaping, rock ground cover, cement path/patio, raised beds for a garden, french drain, irrigation, wood retaining walls and sundowner platform. Sit on your front porch and enjoy the cool evening breezes or BBQ in the back on your covered back porch. Fully fenced home that sits high off the street, this neighborhood is close to all: Golden Hill, Downtown, Barrio Logan, North Park, Balboa Park, SR94, I5, I15, I805, SD International Airport, Petco Park.

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MARKET HIGHLIGHTS

  • 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)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Grant Hill

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $147k621k

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

Neighborhood: Grant Hill

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $11772982

* 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
Kimbrough Elementary School Primary Regular 453 17 3
Memorial Prepatory School For Scholars And Athletes Middle Regular 413 21 3
San Diego High School High Unknown NA

Kimbrough Elementary School

  • Education Level: Primary
  • # of students: 453
  • # of teachers: 17
3
GreatSchools Rating

Memorial Prepatory School For Scholars And Athletes

  • Education Level: Middle
  • # of students: 413
  • # of teachers: 21
3
GreatSchools Rating

San Diego High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$584,100$713,900$649,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$2,254
Property Tax -$630
Property Insurance -$48
Property Management Fees -$129
CASH FLOW
-$1,262

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.

$649,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$34

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,800

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $1,941

    COMP ESTIMATED VALUE
  • $2.36

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,1003$2,2504$2,4505$2,495
$2,495
RENT COMPS ANALYSIS
  • 2760 K St San Diego, CA 1
    • 2 beds 2 baths ∙ 824 Sqft ∙ Built 2018 2 beds 2 baths ∙ 824 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $2.18
    •  
  • 550 15th Street #604 San Diego, CA 2
    • 2 beds 1 baths ∙ 884 Sqft ∙ Built 2006 2 beds 1 baths ∙ 884 Sqft ∙ Built 2006
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $2.38
    •  
  • 330 J St #606 San Diego, CA 3
    • 2 beds 2 baths ∙ 943 Sqft ∙ Built 2003 2 beds 2 baths ∙ 943 Sqft ∙ Built 2003
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.39
    •  
  • 450 J St #4211 San Diego, CA 4
    • 2 beds 2 baths ∙ 1,016 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,016 Sqft ∙ Built 2004
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $2.41
    •  
  • 1150 J St #205 San Diego, CA 5
    • 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 2005
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $2.24
    •  
PROPERTY LISTING DETAILS
Andrea Flint-gogek
1.619.992.8793
Tranquility Real Estate Svcs.
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005062
Last Updated: 02/28/2021
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