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3447 Mount Laurence Drive San Diego, CA 92117

3 Beds 4 Baths 3,050 sqft Built 1975

$1,550,000

List Price

$4,550

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $508.20
  • 45 Days on Market
  • MLS # : 200051009
  • Updated Date : 12/18/2020 at 22:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,050 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Mesmerizing water views & expansive possibilities of this Bay Park home give a nod to a mid-century modern vibe. Open living area with a split level living/family room with floor to ceiling windows & a bonus den (or bedroom). Studio with views to inspire the soul of any artist. The master suite is grand in size & offers a large bath with shower & separate soaking tub with a giant walk-in closet. This home is a perfect mix of possibilities & move-in ready. Large 9100 s.f. lot. Sold "as is" & held in trust.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bay Park

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $233k804k

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

Neighborhood: Bay Park

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
Toler Elementary School Primary Regular 249 10 7
Marston Middle School Middle Regular 739 31 6
Clairemont High School High Regular 1,067 55 6

Toler Elementary School

  • Education Level: Primary
  • # of students: 249
  • # of teachers: 10
7
GreatSchools Rating

Marston Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 31
6
GreatSchools Rating

Clairemont High School

  • Education Level: High
  • # of students: 1,067
  • # of teachers: 55
6
GreatSchools Rating
 

$1,395,000$1,705,000$1,550,000

PURCHASE PRICE

$4,095$5,005$4,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,550
EXPENSES Loan Payment -$5,719
Property Tax -$1,506
Property Insurance -$104
Property Management Fees -$129
CASH FLOW
-$2,907

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.

$1,550,000

PROJECTED PRICE

$4,550

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$416,500

INVESTMENT

$416,500

Down Payment
$387,500
Rehab Estimate
$5,750
Closing Costs
$23,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$5,719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $387,500
Loan Amount $1,162,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$158

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
  • $5,002

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,2003$5,500
$5,500
RENT COMPS ANALYSIS
  • 3447 Mount Laurence Drive San Diego, CA 1
    • 3 beds 4 baths ∙ 3,050 Sqft ∙ Built 1975 3 beds 4 baths ∙ 3,050 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5633 Soledad Mountain Road La Jolla, CA 2
    • 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1972 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1972
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.31
    •  
  • 2409 Geranium St San Diego, CA 3
    • 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 1990
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $1.97
    •  
PROPERTY LISTING DETAILS
Laura Hollister
1.858.354.8939
Exp Realty Of California Inc
BESbswy