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

2805 Chicago Street San Diego, CA 92117

4 Beds 3 Baths 2,304 sqft Built 1972

$1,265,000

List Price

$4,290

$4K - $4.5K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $549.05
  • 6 Days on Market
  • MLS # : 210002124
  • Updated Date : 01/26/2021 at 19:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,304 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Location, location, location. Walk to the bay, a minute from the freeway & everything Bay Park has to offer. This home has an expansive gourmet kitchen w/ custom cabinets, ss appliances & huge island bordering the family room. All new windows & doors, custom finishes, crown moulding & wood flooring add warmth that separates this home from the average. Master suite has a walk out deck with views of the bay. The large private back yard offers endless possibilities for entertaining, pool addition or ADU.

SEE MORE

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: Bay Park

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $233k804k

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

Neighborhood: Bay Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16273384

* 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
Toler Elementary School Primary Regular 249 10 7
Marston Middle School Middle Regular 739 31 6
Clairemont High School High Regular 1,067 55 6

Toler Elementary School

  • Education Level: Primary
  • # of students: 249
  • # of teachers: 10
7
GreatSchools Rating

Marston Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 31
6
GreatSchools Rating

Clairemont High School

  • Education Level: High
  • # of students: 1,067
  • # of teachers: 55
6
GreatSchools Rating
 

$1,138,500$1,391,500$1,265,000

PURCHASE PRICE

$3,861$4,719$4,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,290
EXPENSES Loan Payment -$4,394
Property Tax -$1,229
Property Insurance -$85
Property Management Fees -$129
CASH FLOW
-$1,547

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,265,000

PROJECTED PRICE

$4,290

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$340,975

INVESTMENT

$340,975

Down Payment
$316,250
Rehab Estimate
$5,750
Closing Costs
$18,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,394

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $316,250
Loan Amount $948,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,735

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
  • $4,424

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8253$3,8954$4,000
$4,000
RENT COMPS ANALYSIS
  • 2805 Chicago Street San Diego, CA 1
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4640 Huron Ave San Diego, CA 2
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1953 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1953
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,825
    • $1.85
    •  
  • 3220 Wheat Street San Diego, CA 3
    • 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1965
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $1.93
    •  
  • 3772 Vista De La Bahia San Diego, CA 4
    • 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1968
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.98
    •  
PROPERTY LISTING DETAILS
Laura Hollister
1.858.354.8939
Exp Realty Of California Inc
BESbswy