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3019 Marquette St San Diego, CA 92106

4 Beds 2 Baths 1,616 sqft Built 1959

$1,049,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $649.13
  • 4 Days on Market
  • MLS # : 200051468
  • Updated Date : 11/13/2020 at 07:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,616 sqft
  • Baths : 2 full
Listing Agent

Joshua Krause

Listing Agent's Description

Beautifully remodeled single story Point Loma home situated on an oversized lot with views towards downtown. Featuring 4 bedrooms and 2 full bathrooms with a spacious and open floor plan this home is sure to delight. Numerous upgrades include new AC and ducting, OWNED SOLAR (greatly reducing monthly electric bills), blown insulation in walls, dual pane windows and sliders, engineered hardwood flooring, gutters, and much more.

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: Loma Portal

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900kPrice in $233k982k

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

Neighborhood: Loma Portal

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16273926

* 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
Loma Portal Elementary School Primary Regular 434 16 8
Correia Middle School Middle Regular 838 32 7
Point Loma High School High Regular 1,880 79 8

Loma Portal Elementary School

  • Education Level: Primary
  • # of students: 434
  • # of teachers: 16
8
GreatSchools Rating

Correia Middle School

  • Education Level: Middle
  • # of students: 838
  • # of teachers: 32
7
GreatSchools Rating

Point Loma High School

  • Education Level: High
  • # of students: 1,880
  • # of teachers: 79
8
GreatSchools Rating
 

$944,100$1,153,900$1,049,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,870
Property Tax -$1,019
Property Insurance -$68
Property Management Fees -$129
CASH FLOW
-$1,586

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.

$1,049,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

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

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$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $2.17

    LIST RENT PER SQFT
  • $3,458

    COMP ESTIMATED VALUE
  • $2.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9953$3,5004$3,5005$4,200
$4,200
RENT COMPS ANALYSIS
  • 3019 Marquette St San Diego, CA 4
    • 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.17
    •  
  • 4451 Mentone St. San Diego, CA 1
    • 3 beds 1 baths ∙ 1,285 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,285 Sqft ∙ Built 1953
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.26
    •  
  • 2365 Caminito Afuera Point Loma, CA 2
    • 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 1976
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.94
    •  
  • 2327 Caminito Mira San Diego, CA 3
    • 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 1973
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.14
    •  
  • 2186 W California Street San Diego, CA 5
    • 4 beds 3 baths ∙ 1,893 Sqft ∙ Built 1943 4 beds 3 baths ∙ 1,893 Sqft ∙ Built 1943
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.22
    •  
PROPERTY LISTING DETAILS
Joshua Krause
1.858.876.4445
Joshua Krause
BESbswy