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2955 Vancouver Ave San Diego, CA 92104

3 Beds 2 Baths 1,572 sqft Built 1938

$950,000

List Price

$3,630

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1938
  • Price/Sqft : $604.33
  • 4 Days on Market
  • MLS # : 210003041
  • Updated Date : 02/05/2021 at 01:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,572 sqft
  • Baths : 2 full
Listing Agent

Keller Williams La Jolla

Listing Agent's Description

Rare opportunity! Spacious 3 bed 2 bath home set back from street w/ oversized front yard! Open & bright floorplan features: hardwood floors, upgraded lighting, exceptionally large living space & bedrooms, custom bathroom, vaulted ceilings & skylights, fireplace in potential master retreat or great family room/office & large shed/workshop with abundant storage & laundry could also be office/bed. Front patio perfect for entertaining with lush landscaping & shade trees. Immense driveway for cars or RV/toys!

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: 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
 

$855,000$1,045,000$950,000

PURCHASE PRICE

$3,267$3,993$3,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,630
EXPENSES Loan Payment -$3,300
Property Tax -$923
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$788

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.

$950,000

PROJECTED PRICE

$3,630

PROJECTED RENT

0.38%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,300

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,500
Loan Amount $712,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$18,748

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
  • $4,024

    COMP ESTIMATED VALUE
  • $2.56

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5003$3,7004$3,900
$3,900
RENT COMPS ANALYSIS
  • 2955 Vancouver Ave San Diego, CA 1
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4627 E Talmadge Dr San Diego, CA 2
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1947
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.67
    •  
  • 3605 Texas St San Diego, CA 3
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1931
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.72
    •  
  • 3027 Bancroft San Diego, CA 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1932
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.29
    •  
PROPERTY LISTING DETAILS
Ryan Ahearn
1.858.886.9845
Keller Williams La Jolla
BESbswy