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

2778 Kandace Way San Diego, CA 92105

3 Beds 2 Baths 1,296 sqft Built 1978

$650,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $501.54
  • 14 Days on Market
  • MLS # : 200054716
  • Updated Date : 01/07/2021 at 03:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,296 sqft
  • Baths : 2 full
Listing Agent

Renee Cohen, Broker

Listing Agent's Description

Lovely family home on a quiet cul-de-sac, close to all. One level, with a built-in pool in the backyard. Welcome home!

SEE MORE

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: Oak Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $158k621k

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

Neighborhood: Oak Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12492982

* 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
Oak Park Elementary School Primary Magnet 534 20 6
Mann Middle School Middle Regular 760 44 3
Crawford High School High Regular 1,161 59 NA

Oak Park Elementary School

  • Education Level: Primary
  • # of students: 534
  • # of teachers: 20
6
GreatSchools Rating

Mann Middle School

  • Education Level: Middle
  • # of students: 760
  • # of teachers: 44
3
GreatSchools Rating

Crawford High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 59
NA
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,258
Property Tax -$631
Property Insurance -$60
Property Management Fees -$129
CASH FLOW
-$418

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.

$650,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 9.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$20,281

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
  • $2,689

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,795
$2,795
RENT COMPS ANALYSIS
  • 2778 Kandace Way San Diego, CA 1
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6333 College Grove Way #11203 San Diego, CA 2
    • 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1976
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $2.15
    •  
  • 5841 Hughes St. San Diego, CA 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1961
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.00
    •  
PROPERTY LISTING DETAILS
Renee Cohen
1.760.705.6570
Renee Cohen, Broker
BESbswy