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3216 Old Kettle Road San Diego, CA 92111

2 Beds 2 Baths 1,187 sqft Built 1983

$700,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $589.72
  • 4 Days on Market
  • MLS # : 210005003
  • Updated Date : 02/27/2021 at 19:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,187 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Rarely available single story twinhome in highly desirable Fox Run. Only 10 in complex!! Show to all your buyers who want a single level home with a private enclosed yard. Close to shopping centers, Tecolote Canyon, minutes to freeways, and Mesa College. Home has gas fireplace in light and bright living room, upgraded newer kitchen with pantry and sliding door access to patio and back yard. Home has newer carpeting throughout. Bedrooms have custom designed California Closets. Complex has homes on only one side of street, leaving lots of room for on-street parking and privacy. Home is fully air conditioned. Back yard has concrete patio plus artificial turf for easy care.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.

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
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,431
Property Tax -$680
Property Insurance -$57
HOA -$143
Property Management Fees -$129
CASH FLOW
-$940

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.

$700,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.36%

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

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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$833

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
  • $2,524

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8753$2,3004$2,575
$2,575
RENT COMPS ANALYSIS
  • 3216 Old Kettle Road San Diego, CA 1
    • 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4137 Mount Alifan Place #a San Diego, CA 2
    • 2 beds 1 baths ∙ 909 Sqft ∙ Built 1973 2 beds 1 baths ∙ 909 Sqft ∙ Built 1973
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $2.06
    •  
  • 6936 Park Mesa Way #10 San Diego, CA 3
    • 2 beds 3 baths ∙ 1,072 Sqft ∙ Built 1985 2 beds 3 baths ∙ 1,072 Sqft ∙ Built 1985
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.15
    •  
  • 3210 Old Kettle San Diego, CA 4
    • 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 1983
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $2.17
    •  
PROPERTY LISTING DETAILS
Carol Sorenson
1.858.581.2424
Coldwell Banker Realty
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005003
Last Updated: 02/27/2021
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