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3442 41st Street San Diego, CA 92105

2 Beds 1 Baths 880 sqft Built 1929

$515,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $585.23
  • 6 Days on Market
  • MLS # : 200054749
  • Updated Date : 12/30/2020 at 01:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 880 sqft
  • Baths : 1 full
Listing Agent

Foster Hamilton Real Estate Co

Listing Agent's Description

This Spanish style home nestled in the heart of City Heights offers character and charm. Upgraded kitchen, original hardwood flooring throughout, crown molding, bright open space and a private yard perfect for entertaining. Detached home office which has potential to become an ADU for a possible income opportunity or in-laws suite. Conveniently located on a quiet street near major freeways and public transportation.

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: Castle

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $133k621k

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

Neighborhood: Castle

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $11402982

* 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
Joyner Elementary School Primary Magnet 721 27 4
Clark Middle School Middle Regular 1,036 46 3
Hoover High School High Regular 2,019 97 4

Joyner Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 27
4
GreatSchools Rating

Clark Middle School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 46
3
GreatSchools Rating

Hoover High School

  • Education Level: High
  • # of students: 2,019
  • # of teachers: 97
4
GreatSchools Rating
 

$463,500$566,500$515,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,900
Property Tax -$504
Property Insurance -$49
Property Management Fees -$129
CASH FLOW
-$613

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.

$515,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,403

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 3442 41st Street San Diego, CA
    • 2 beds 1 baths ∙ 880 Sqft ∙ Built 1929 2 beds 1 baths ∙ 880 Sqft ∙ Built 1929
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
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PROPERTY LISTING DETAILS
Leo Gonzalez
1.619.709.2042
Foster Hamilton Real Estate Co
BESbswy