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3190 Old Heather Road San Diego, CA 92111

3 Beds 3 Baths 1,562 sqft Built 1983

$765,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $489.76
  • 2 Days on Market
  • MLS # : 210003923
  • Updated Date : 02/14/2021 at 02:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,562 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Associates

Listing Agent's Description

Clairemont!! Welcome to the Trails of Foxrun, 160 single family attached homes on the rim of Tecolote Canyon located just 1.7 miles to the waters of Mission Bay! Holmes Elementary school boundary, and just down the street from the new High Tech High Mesa! Theater lot! NO houses across the street! Sleepy street culdesacs at both ends. All 3 bedrooms upstairs. Updated kitchen, wood floors downstairs, private fenced backyard. You'll love living in a neighborhood that is 85% owner occupied!

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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: Clairemont Mesa West

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $233k746k

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

Neighborhood: Clairemont Mesa West

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16113384

* 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
Marston Middle School Middle Regular 739 31 6
Clairemont High School High Regular 1,067 55 6
Marston Middle School Middle Unknown NA

Marston Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 31
6
GreatSchools Rating

Clairemont High School

  • Education Level: High
  • # of students: 1,067
  • # of teachers: 55
6
GreatSchools Rating

Marston Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$688,500$841,500$765,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,657
Property Tax -$743
Property Insurance -$66
HOA -$143
Property Management Fees -$129
CASH FLOW
-$789

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.

$765,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.39%

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

PROJECTED ANNUAL CASH FLOW

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

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$208,475

INVESTMENT

$208,475

Down Payment
$191,250
Rehab Estimate
$5,750
Closing Costs
$11,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,657

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $191,250
Loan Amount $573,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,215

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
  • $2,968

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8903$3,4754$3,495
$3,495
RENT COMPS ANALYSIS
  • 3190 Old Heather Road San Diego, CA 1
    • 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3680 Marlesta Dr San Diego, CA 2
    • 3 beds 4 baths ∙ 1,674 Sqft ∙ Built 1987 3 beds 4 baths ∙ 1,674 Sqft ∙ Built 1987
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $1.73
    •  
  • 6555 High Knoll Rd San Diego, CA 3
    • 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1980
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,475
    • $2.06
    •  
  • 3644 Princeton Ave San Diego, CA 4
    • 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1993
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.91
    •  
PROPERTY LISTING DETAILS
Jeff Eldridge
1.619.339.7117
Re/max Associates
BESbswy