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3136 Homer St San Diego, CA 92106

3 Beds 3 Baths 1,910 sqft Built 1925

$1,349,000

List Price

$3,840

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1925
  • Price/Sqft : $706.28
  • 7 Days on Market
  • MLS # : 200050063
  • Updated Date : 10/28/2020 at 21:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,910 sqft
  • Baths : 3 full
Listing Agent

Damico Realty Group

Listing Agent's Description

WOW! One of a kind in Point Loma! Pristine, Rebuilt Craftsman Stunner with ADU (Private Entrance) will absolutely take your breath away! While maintaining its original character, this complete renovation boasts: Custom Wood Flooring, Designer Kitchen Cabinets and Quartz Countertops, High-end Appliances, Brand New Bathrooms with Custom Tiled Finishes, Modern Lighting throughout, Expansive Living Areas, Detailed Moulding, Brand New Roof, New Windows, Designer Fixtures, and Intimate Backyard, its PERFECT!

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
 

$1,214,100$1,483,900$1,349,000

PURCHASE PRICE

$3,456$4,224$3,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,840
EXPENSES Loan Payment -$4,977
Property Tax -$1,311
Property Insurance -$75
Property Management Fees -$129
CASH FLOW
-$2,652

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.

$1,349,000

PROJECTED PRICE

$3,840

PROJECTED RENT

0.28%

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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,235

INVESTMENT

$363,235

Down Payment
$337,250
Rehab Estimate
$5,750
Closing Costs
$20,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $337,250
Loan Amount $1,011,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,840

    LIST RENT
  • $2.01

    LIST RENT PER SQFT
  • $4,240

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$3,840
1$3,8402$4,200
$4,200
RENT COMPS ANALYSIS
  • 3136 Homer St San Diego, CA 1
    • 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 1925 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 1925
    • Rent
    • Rent Per SQFT
    •  
    • $3,840
    • $2.01
    •  
  • 2186 W California Street San Diego, CA 2
    • 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
Brian Wood
1.619.250.1112
Damico Realty Group
BESbswy