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3001 Conner Way San Diego, CA 92117

4 Beds 2 Baths 2,308 sqft Built 1968

$1,650,000

List Price

$4,250

$4K - $4.5K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $714.90
  • 5 Days on Market
  • MLS # : 210003613
  • Updated Date : 02/11/2021 at 05:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,308 sqft
  • Baths : 2 full
Listing Agent

Source California Realty

Listing Agent's Description

Beautiful once in a lifetime Single Story show piece of a property for sale. First time on open market in over 50 years. Open layout kitchen, living room and dining room with views as far as the eye can see. Overlook the Bay from your master bedroom or office and enjoy what San Diego's weather has to offer. One of the largest lots in the development with a huge backyard to entertain. Dont miss this opportunity as these properties do not last.

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: 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
Cadman Elementary School Primary Regular 183 8 7
Marston Middle School Middle Regular 739 31 6
Clairemont High School High Regular 1,067 55 6

Cadman Elementary School

  • Education Level: Primary
  • # of students: 183
  • # of teachers: 8
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
 

$1,485,000$1,815,000$1,650,000

PURCHASE PRICE

$3,825$4,675$4,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,250
EXPENSES Loan Payment -$5,731
Property Tax -$1,603
Property Insurance -$85
Property Management Fees -$129
CASH FLOW
-$3,298

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.

$1,650,000

PROJECTED PRICE

$4,250

PROJECTED RENT

0.26%

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$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$443,000

INVESTMENT

$443,000

Down Payment
$412,500
Rehab Estimate
$5,750
Closing Costs
$24,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,731

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $412,500
Loan Amount $1,237,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$36

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
  • $4,668

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8953$4,0004$4,2005$4,200
$4,200
RENT COMPS ANALYSIS
  • 3001 Conner Way San Diego, CA 1
    • 4 beds 2 baths ∙ 2,308 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,308 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3220 Wheat Street San Diego, CA 2
    • 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1965
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $1.93
    •  
  • 3772 Vista De La Bahia San Diego, CA 3
    • 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1968
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.98
    •  
  • 5878 Soledad Mountain Road La Jolla, CA 4
    • 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 1961
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.14
    •  
  • 5568 Caminito Consuelo La Jolla, CA 5
    • 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 1971 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 1971
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.04
    •  
PROPERTY LISTING DETAILS
Christian Spicer
1.619.368.9956
Source California Realty
BESbswy