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343 W Date Street San Diego, CA 92101

4 Beds 3 Baths 2,450 sqft Built 2002

$1,949,000

List Price

$5,860

$5.6K - $6.1K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $795.51
  • 7 Days on Market
  • MLS # : 210000048
  • Updated Date : 01/06/2021 at 00:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,450 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

An architectural masterpiece designed by renowned architect Sebastian Mariscal, this single family home including a 1st floor legal office w/separate entrance, is located in Little Italy. A meticulously planned space filled w/volume & light, this home features 4 BRs, den + 3 baths.  Amazing finishes include maple floors, walls of obscure glass & custom lacquered cabinetry to create a 1-of-a-kind space.  3 outdoor spaces, including large roof deck, provide a place to enjoy SD's gorgeous weather all year.

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: Little Italy

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $189k746k

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

Neighborhood: Little Italy

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16273384

* 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
Washington Elementary School Primary Regular 329 12 6
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Washington Elementary School

  • Education Level: Primary
  • # of students: 329
  • # of teachers: 12
6
GreatSchools Rating

Roosevelt International Middle School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 48
4
GreatSchools Rating

San Diego High School

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

$1,754,100$2,143,900$1,949,000

PURCHASE PRICE

$5,274$6,446$5,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,860
EXPENSES Loan Payment -$6,770
Property Tax -$1,943
Property Insurance -$89
Property Management Fees -$129
CASH FLOW
-$3,070

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.

$1,949,000

PROJECTED PRICE

$5,860

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.1%
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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$522,235

INVESTMENT

$522,235

Down Payment
$487,250
Rehab Estimate
$5,750
Closing Costs
$29,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,770

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $487,250
Loan Amount $1,461,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$200

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
  • $6,529

    COMP ESTIMATED VALUE
  • $2.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,6003$7,000
$7,000
RENT COMPS ANALYSIS
  • 343 W Date Street San Diego, CA 1
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2002
    • 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
Chad Dannecker
1.619.618.2267
Compass
BESbswy