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3443 Ray Street San Diego, CA 92104

3 Beds 2 Baths 1,500 sqft Built 1924

$1,195,000

List Price

$3,780

$3.5K - $4K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $796.67
  • 3 Days on Market
  • MLS # : 200054583
  • Updated Date : 12/25/2020 at 22:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

LOCATION LOCATION! Rarely available, one-of-a-kind, 3 bed/2 bath, 2-story COZY DREAM CRAFTSMAN fused with urban loft! WALK EVERYWHERE from this eclectic & unique home with YARD & PATIO in the heart of North Park: Balboa Park, bars, boutiques, restaurants, coffee shops, farmers market, & more! Part of garage converted to living space - could easily be turned into ADU/granny flat/in-law suite. Excellent schools with Int'l Baccalaureate (IB) programs. Close to freeways, beaches, downtown! This won't last!

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: North Park

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $201k621k

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

Neighborhood: North Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $15142982

* 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
Mckinley Elementary School Primary Regular 568 22 9
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Mckinley Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 22
9
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
 

$1,075,500$1,314,500$1,195,000

PURCHASE PRICE

$3,402$4,158$3,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,780
EXPENSES Loan Payment -$4,409
Property Tax -$1,161
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$1,984

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.

$1,195,000

PROJECTED PRICE

$3,780

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.5%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$322,425

INVESTMENT

$322,425

Down Payment
$298,750
Rehab Estimate
$5,750
Closing Costs
$17,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,409

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $298,750
Loan Amount $896,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$216

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
  • $3,870

    COMP ESTIMATED VALUE
  • $2.58

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,3503$3,6504$3,7005$3,900
$3,900
RENT COMPS ANALYSIS
  • 3443 Ray Street San Diego, CA 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1924
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3729 Indiana Street San Diego, CA 2
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1924
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.73
    •  
  • 1605 Fern St San Diego, CA 3
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1913 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1913
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.58
    •  
  • 3605 Texas St San Diego, CA 4
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1931
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.72
    •  
  • 3027 Bancroft San Diego, CA 5
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1932
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.29
    •  
PROPERTY LISTING DETAILS
Jamie Pullman
1.619.249.4344
Exp Realty Of California Inc
BESbswy