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3012 46th Street San Diego, CA 92105

3 Beds 3 Baths 1,536 sqft Built 2018

$549,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $357.42
  • 6 Days on Market
  • MLS # : 200051253
  • Updated Date : 11/13/2020 at 23:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,536 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Move in ready City Heights family home. Built in 2017 and is practically new! Open floor plan! Beautiful kitchen includes custom cabinets, granite counter-tops and stainless-steel appliances. Manufactured wood flooring throughout. Fresh interior paint. Dual pain windows. Large MBR with en-suite bathroom. Convenient to all! Downtown, San Diego Zoo, Airport, Coronado, Balboa Park, shopping and restaurants. Fantastic location and GREAT TURNKEY HOME! Seller happy to entertain VA & FHA Buyers.

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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: Swan Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $148k621k

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

Neighborhood: Swan Canyon

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $11462982

* 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
Hamilton Elementary School Primary Regular 524 21 5
Clark Middle School Middle Regular 1,036 46 3
Hoover High School High Regular 2,019 97 4

Hamilton Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 21
5
GreatSchools Rating

Clark Middle School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 46
3
GreatSchools Rating

Hoover High School

  • Education Level: High
  • # of students: 2,019
  • # of teachers: 97
4
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$2,026
Property Tax -$538
Property Insurance -$66
Property Management Fees -$129
CASH FLOW
$282

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.

$549,000

PROJECTED PRICE

$3,040

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 12.0%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

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$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$94,303

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,040

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $3,103

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,040
$3,040
RENT COMPS ANALYSIS
  • 3012 46th Street San Diego, CA 2
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $1.98
    •  
  • 4132 Mandarin Terrace San Diego, CA 1
    • 4 beds 3 baths ∙ 1,384 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,384 Sqft ∙ Built 2002
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.02
    •  
PROPERTY LISTING DETAILS
Bobby Martins
1.858.204.7259
Exp Realty Of California Inc
BESbswy