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2810 Luna Ave San Diego, CA 92117

5 Beds 4 Baths 3,200 sqft Built 1985

$1,290,000

List Price

$6,180

$5.9K - $6.4K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $403.13
  • 5 Days on Market
  • MLS # : 210001667
  • Updated Date : 01/22/2021 at 17:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,200 sqft
  • Baths : 4 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Seller entertains offers between $1,175K-$1,290K. Perfect Family Lifestyle in Bay Ho/West Clm't w/solar! Imagine $10/mo electric bill! Downstairs has eat in kit, living rm, lrg dining rm w/soaring ceilings & 3+BR(1 is 2nd master- extended fam anyone?) Upstairs you have a multi-purpose fam rm/office area along w/3 generous sized BR's which includes the master w/his & her closets & balcony. Newer Milgard windows. Amazing fenced yard w/firepit area & THE "CLUBHOUSE" a 323sf separate bldg not incl. in sq ft!

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: Bay Ho

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $233k746k

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

Neighborhood: Bay Ho

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
Alcott Elementary School Primary Regular 189 8 6
Marston Middle School Middle Regular 739 31 6
Clairemont High School High Regular 1,067 55 6

Alcott Elementary School

  • Education Level: Primary
  • # of students: 189
  • # of teachers: 8
6
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
 

$1,161,000$1,419,000$1,290,000

PURCHASE PRICE

$5,562$6,798$6,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,180
EXPENSES Loan Payment -$4,481
Property Tax -$1,250
Property Insurance -$108
Property Management Fees -$129
CASH FLOW
$213

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.

$1,290,000

PROJECTED PRICE

$6,180

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.3%
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$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k$60k$70k

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$347,600

INVESTMENT

$347,600

Down Payment
$322,500
Rehab Estimate
$5,750
Closing Costs
$19,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$4,481

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $322,500
Loan Amount $967,500
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$137,219

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
  • $7,120

    COMP ESTIMATED VALUE
  • $2.23

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$7,0003$7,500
$7,500
RENT COMPS ANALYSIS
  • 2810 Luna Ave San Diego, CA 1
    • 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 1985 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8215 Prestwick Dr La Jolla, CA 2
    • 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 1973 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 1973
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,000
    • $2.06
    •  
  • 6408 La Jolla Scenic Drive S La Jolla, CA 3
    • 4 beds 4 baths ∙ 3,143 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,143 Sqft ∙ Built 2000
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $7,500
    • $2.39
    •  
PROPERTY LISTING DETAILS
Karen Hickman
1.858.459.4300
Pacific Sotheby's Int'l Realty
BESbswy