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PROPERTY INFO
FACTS
- Single Family
- Built In 1954
- Price/Sqft : $604.61
- 2 Days on Market
- MLS # : 210004499
- Updated Date : 02/20/2021 at 21:25
CONSTRUCTION
- Beds : 3
- Floor Size : 1,323 sqft
- Baths : 2 full
Listing Agent
The Equity Company
Listing Agent's Description
Move in ready detached home with attached garage in Clairemont. This home features an extra large master bedroom with large walk in closet. This home also features a very spacious floor plan. Kitchen has granite countertops and maple cabinets. This home also features solar electricity which is paid for. Huge backyard with huge covered patio with built in BBQ area and gas fireplace.
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Bay Ho
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Bay Ho
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,590 |
| EXPENSES | Loan Payment | -$2,778 |
| Property Tax | -$775 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$1,153
|
||
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.
$799,900
PROJECTED PRICE
$2,590
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$217,724
LOAN DETAILS
$2,778
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $199,975 |
| Loan Amount | $599,925 |
0.33
YEARS SAVED
$387
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
-
$2,659
COMP ESTIMATED VALUE -
$2.01
COMP AVG. RENT PER SQFT
Comps Range
-
3122 Idlewild Way San Diego, CA 1
- 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1954
- Rent
- Rent Per SQFT
- $0
- $0.00
-
4546 Gila San Diego, CA 2
- 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1954
LEASED 12/10/20- Rent
- Rent Per SQFT
- $2,900
- $1.97
-
2790 Arcola Ave. San Diego, CA 3
- 4 beds 2 baths ∙ 1,458 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,458 Sqft ∙ Built 1968
LEASED 02/07/20- Rent
- Rent Per SQFT
- $2,995
- $2.05
PROPERTY LISTING DETAILS
1.619.813.2338
The Equity Company
MLS #: 210004499
Last Updated: 02/20/2021
