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3116 Dwight St San Diego, CA 92104

2 Beds 1 Baths 1,100 sqft Built 1925

$800,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1925
  • Price/Sqft : $727.27
  • 11 Days on Market
  • MLS # : 210006333
  • Updated Date : 03/19/2021 at 17:57
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,100 sqft
  • Baths : 1 full
Listing Agent

Lloyd Realty Group

Listing Agent's Description

Gorgeous adobe-style North Park home in the most ideal location! 2 bedroom/1 bathroom home with an optional 3rd bedroom in the converted garage. Vintage charm galore with the original built-ins, fireplace, hardwood flooring, and glass-stained windows. Low-maintenance private yard and patio, lots of natural light. On a quiet, picturesque street in the heart of North Park, walkable and central to everything. This home has been well-loved and is ready for its new owner!

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
Jefferson Elementary School Primary Regular 365 15 7
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 365
  • # of teachers: 15
7
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
 

$720,000$880,000$800,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,779
Property Tax -$777
Property Insurance -$55
Property Management Fees -$129
CASH FLOW
-$1,190

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.

$800,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.32%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,779

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $200,000
Loan Amount $600,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $2.32

    LIST RENT PER SQFT
  • $2,794

    COMP ESTIMATED VALUE
  • $2.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4953$2,5504$2,995
$2,995
RENT COMPS ANALYSIS
  • 3116 Dwight St San Diego, CA 3
    • 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1925 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1925
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $2.32
    •  
  • 3465 Wightman St San Diego, CA 1
    • 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
    •  
  • 4616 Cherokee Ave San Diego, CA 2
    • 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $2.53
    •  
  • 3605 Herman Avenue San Diego, CA 4
    • 2 beds 1 baths ∙ 1,195 Sqft ∙ Built 1922 2 beds 1 baths ∙ 1,195 Sqft ∙ Built 1922
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.51
    •  
PROPERTY LISTING DETAILS
Stephanie Lloyd
1.619.757.8619
Lloyd Realty Group
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210006333
Last Updated: 03/19/2021
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