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3335 Citrus St Lemon Grove, CA 91945

2 Beds 1 Baths 1,075 sqft Built 1951

$599,950

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $558.09
  • 6 Days on Market
  • MLS # : 210004088
  • Updated Date : 02/18/2021 at 21:18
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,075 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Realty

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lemon Grove

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Lemon Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12812885

* 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
Mount Miguel High School High Regular 1,483 68 4
Mount Miguel High School High Unknown NA

Mount Miguel High School

  • Education Level: High
  • # of students: 1,483
  • # of teachers: 68
4
GreatSchools Rating

Mount Miguel High School

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

$539,955$659,945$599,950

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$2,084
Property Tax -$697
Property Insurance -$54
Property Management Fees -$129
CASH FLOW
-$865

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.

$599,950

PROJECTED PRICE

$2,100

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

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$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,737

INVESTMENT

$164,737

Down Payment
$149,988
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,988
Loan Amount $449,963
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$397

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
  • $2,254

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8453$1,9004$2,485
$2,485
RENT COMPS ANALYSIS
  • 3335 Citrus St Lemon Grove, CA 1
    • 2 beds 1 baths ∙ 1,075 Sqft ∙ Built 1951 2 beds 1 baths ∙ 1,075 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3611 Billman St San Diego, CA 2
    • 2 beds 2 baths ∙ 925 Sqft ∙ Built 1958 2 beds 2 baths ∙ 925 Sqft ∙ Built 1958
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.99
    •  
  • 6230 Stanley Ave San Diego, CA 3
    • 2 beds 1 baths ∙ 850 Sqft ∙ Built 1959 2 beds 1 baths ∙ 850 Sqft ∙ Built 1959
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $2.24
    •  
  • 4382 Lowell St La Mesa, CA 4
    • 2 beds 1 baths ∙ 1,206 Sqft ∙ Built 1950 2 beds 1 baths ∙ 1,206 Sqft ∙ Built 1950
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,485
    • $2.06
    •  
PROPERTY LISTING DETAILS
Alex Obeso Jr.
1.619.322.9212
Keller Williams Realty
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210004088
Last Updated: 02/18/2021
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