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3438 S Cordoba Ave Spring Valley, CA 91977

3 Beds 1 Baths 1,040 sqft Built 1961

$499,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $479.81
  • 5 Days on Market
  • MLS # : 200050364
  • Updated Date : 11/02/2020 at 18:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,040 sqft
  • Baths : 1 full
Listing Agent

Victoria Kuick, Broker

Listing Agent's Description

Nice starter house on quiet street with huge 13000+ sf lot. Beamed ceilings with original wood floors throughout. Open floorplan for living and eating area. 3 bedroom with 1 bath per tax records. Laundry room has extra toilet and sink. Two car garage with workbench. Fruit trees and large yard. Close to shopping and freeway access. Buyer to verify all before COE.

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $201k594k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13612885

* 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
Highlands Elementary School Primary Regular 512 19 4
Highlands Elementary School Middle Regular 512 19 4
Monte Vista High School High Regular 1,657 76 7

Highlands Elementary School

  • Education Level: Primary
  • # of students: 512
  • # of teachers: 19
4
GreatSchools Rating

Highlands Elementary School

  • Education Level: Middle
  • # of students: 512
  • # of teachers: 19
4
GreatSchools Rating

Monte Vista High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 76
7
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,841
Property Tax -$518
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$501

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$499,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,782

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
  • $2,149

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3003$2,6004$2,995
$2,995
RENT COMPS ANALYSIS
  • 3438 S Cordoba Ave Spring Valley, CA 1
    • 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8830 Fabienne Way La Mesa, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1963
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.92
    •  
  • 2242 Peach Tree Spring Valley, CA 3
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.08
    •  
  • 1639 Portola Ave. Spring Valley, CA 4
    • 4 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.20
    •  
PROPERTY LISTING DETAILS
Vikki Kuick
1.619.741.9651
Victoria Kuick, Broker
BESbswy