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3109 Gregory Street San Diego, CA 92104

2 Beds 1 Baths 720 sqft Built 1939

$739,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $1,026.39
  • 4 Days on Market
  • MLS # : 210001852
  • Updated Date : 01/22/2021 at 23:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 720 sqft
  • Baths : 1 full
Listing Agent

Success Realty & Mortgage Serv

Listing Agent's Description

Welcome home to this charming Mediterranean/Spanish style home in highly desirable Altadena neighborhood of North Park. Original wood flooring, updated kitchen, all windows were replaced 9 years ago, new lighting, new paint in some rooms, and new landscaping. Enjoy being outside by relaxing on your large and very private deck in the backyard. Driveway can be used for extra parking spaces. Walking distance to McKinley Elementary School. Easy access to the freeway and Downtown San Diego.

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: 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
 

$665,100$812,900$739,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$2,567
Property Tax -$718
Property Insurance -$45
Property Management Fees -$129
CASH FLOW
-$1,359

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.

$739,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.28%

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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$201,585

INVESTMENT

$201,585

Down Payment
$184,750
Rehab Estimate
$5,750
Closing Costs
$11,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,567

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,750
Loan Amount $554,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$56

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $2.92

    LIST RENT PER SQFT
  • $1,811

    COMP ESTIMATED VALUE
  • $2.52

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$2,1004$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 3109 Gregory Street San Diego, CA 3
    • 2 beds 1 baths ∙ 720 Sqft ∙ Built 1939 2 beds 1 baths ∙ 720 Sqft ∙ Built 1939
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $2.92
    •  
  • 4033 Wilson Ave. San Diego, CA 1
    • 2 beds 1 baths ∙ 806 Sqft ∙ Built 1943 2 beds 1 baths ∙ 806 Sqft ∙ Built 1943
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $2.35
    •  
  • 4063 Dwight St San Diego, CA 2
    • 2 beds 1 baths ∙ 720 Sqft ∙ Built 1927 2 beds 1 baths ∙ 720 Sqft ∙ Built 1927
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $2.71
    •  
  • 3573 31st Street San Diego, CA 4
    • 2 beds 1 baths ∙ 890 Sqft ∙ Built 1935 2 beds 1 baths ∙ 890 Sqft ∙ Built 1935
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $2.42
    •  
  • 3465 Wightman St San Diego, CA 5
    • 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.58
    •  
PROPERTY LISTING DETAILS
Shirin Chauvin
1.760.889.5626
Success Realty & Mortgage Serv
BESbswy