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3160 Goldfinch St. San Diego, CA 92103

4 Beds 4 Baths 2,433 sqft Built 2005

$1,525,000

List Price

$6,160

$5.9K - $6.4K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $626.80
  • 2 Days on Market
  • MLS # : 210000618
  • Updated Date : 01/09/2021 at 15:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,433 sqft
  • Baths : 4 full
Listing Agent

Pacific View Real Estate

Listing Agent's Description

Nestled in quiet cul-de-sac and neighborhood of Mission Hills,custom built in 2005, home is a gem!This spacious,beautiful home offers archway passages,vaulted 10' ft ceilings,upstairs Master Suite w/ walk in closet,his & her vanity,jet tub & separate walk in shower,plus 2 en suite bedrooms & on the 1st floor 1 guest/office room and guest full bath.Stunning windows w/ wonderful natural light thru the living,dining,kitchen,family room that reaches out to patio that brings on added charm for open living.

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: Mission Hills

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $233k1077k

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

Neighborhood: Mission Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $16274202

* 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
Florence Elementary School Primary Regular 262 11 8
Grant Elementary School Middle Regular 718 31 8
Point Loma High School High Regular 1,880 79 8

Florence Elementary School

  • Education Level: Primary
  • # of students: 262
  • # of teachers: 11
8
GreatSchools Rating

Grant Elementary School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 31
8
GreatSchools Rating

Point Loma High School

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

$1,372,500$1,677,500$1,525,000

PURCHASE PRICE

$5,544$6,776$6,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,160
EXPENSES Loan Payment -$5,297
Property Tax -$1,481
Property Insurance -$88
Property Management Fees -$129
CASH FLOW
-$836

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.

$1,525,000

PROJECTED PRICE

$6,160

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k$40k$50k$60k

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$409,875

INVESTMENT

$409,875

Down Payment
$381,250
Rehab Estimate
$5,750
Closing Costs
$22,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$5,297

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $381,250
Loan Amount $1,143,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$55,017

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
  • $6,484

    COMP ESTIMATED VALUE
  • $2.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,6003$7,000
$7,000
RENT COMPS ANALYSIS
  • 3160 Goldfinch St. San Diego, CA 1
    • 4 beds 4 baths ∙ 2,433 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,433 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2291 3rd Avenue San Diego, CA 2
    • 4 beds 4 baths ∙ 2,168 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,168 Sqft ∙ Built 2004
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.12
    •  
  • 888 W E Street #503 San Diego, CA 3
    • 3 beds 3 baths ∙ 2,179 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,179 Sqft ∙ Built 2018
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,000
    • $3.21
    •  
PROPERTY LISTING DETAILS
Lynn Guidi
1.619.890.9514
Pacific View Real Estate
BESbswy