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333 Falconfire Way San Diego, CA 92114

3 Beds 2 Baths 1,322 sqft Built 1987

INVESTimate

$559,000

List Price

$2,210

$1,989 - $2,431

Rent Est.

$593,099  ( +6.10%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1987
  • Price/Sqft : $422.84
  • 9 Days on Market
  • MLS # : 200039965
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,322 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker West

Listing Agent's Description

Nicely updated home on a quiet cul-de-sac. Renovated kitchen and bathrooms, vaulted ceilings, A/C, newer wood flooring, recently painted, wood burning fireplace, 3 year old owned solar system, no electric bill!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: Skyline

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $182k621k

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

Neighborhood: Skyline

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12932982

* 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
Fulton Elementary School Primary Regular 418 18 3
Bell Middle School Middle Regular 912 44 3
Morse High School High Regular 1,808 83 5

Fulton Elementary School

  • Education Level: Primary
  • # of students: 418
  • # of teachers: 18
3
GreatSchools Rating

Bell Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 44
3
GreatSchools Rating

Morse High School

  • Education Level: High
  • # of students: 1,808
  • # of teachers: 83
5
GreatSchools Rating
 

$503,100$614,900$559,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$2,062
Property Tax -$543
Property Insurance -$60
Property Management Fees -$129
CASH FLOW
-$585

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$559,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 6.10%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$8,159

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
  • $2,234

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3503$2,4004$2,7005$2,795
$2,795
RENT COMPS ANALYSIS
  • 333 Falconfire Way San Diego, 1
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5954 Old Memory Ln San Diego, 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1975
    property image
    LEASED 04/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.68
    •  
  • 6525 Bullock San Diego, 3
    • 4 beds 2 baths ∙ 1,434 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,434 Sqft ∙ Built 1979
    property image
    LEASED 04/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.67
    •  
  • 2408 Manzana Way San Diego, 4
    • 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1986
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.70
    •  
  • 7508 Easthill Dr San Diego, 5
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.71
    •  
PROPERTY LISTING DETAILS
Assaf Avissar
1.619.325.4100
Coldwell Banker West
BESbswy