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3522 Landis St San Diego, CA 92104

2 Beds 1 Baths 748 sqft Built 1926

INVESTimate

$575,000

List Price

$1,950

$1,755 - $2,145

Rent Est.

$613,755  ( +6.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1926
  • Price/Sqft : $768.72
  • 6 Days on Market
  • MLS # : 200040516
  • Updated Date : 08/23/2020 at 20:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 748 sqft
  • Baths : 1 full
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

Welcome home! Charming 2 bedroom 1 bathroom. New wood like laminate flooring in common areas. New carpet in bedrooms. Separate laundry room area. Bright and open living room. Custom American made wood cabinets in kitchen. Side gate entrance from alley to park in back. Plenty of street parking. House is up some stairs from the street so feels more private. Quiet location close to North Park, City Heights, I-805, and more.

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: Cherokee Point

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k621k

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

Neighborhood: Cherokee Point

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12012982

* 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
Cherokee Point Elementary School Primary Regular 476 19 3
Wilson Middle School Middle Regular 621 30 3
Hoover High School High Regular 2,019 97 4

Cherokee Point Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 19
3
GreatSchools Rating

Wilson Middle School

  • Education Level: Middle
  • # of students: 621
  • # of teachers: 30
3
GreatSchools Rating

Hoover High School

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

$517,500$632,500$575,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

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-$15k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$2,122
Property Tax -$563
Property Insurance -$46
Property Management Fees -$129
CASH FLOW
-$909

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.

$575,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 6.74%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$310

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,950

    LIST RENT
  • $2.61

    LIST RENT PER SQFT
  • $1,950

    COMP ESTIMATED VALUE
  • $2.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$2,2504$2,495
$2,495
RENT COMPS ANALYSIS
  • 3522 Landis St San Diego, 2
    • 2 beds 1 baths ∙ 748 Sqft ∙ Built 1926 2 beds 1 baths ∙ 748 Sqft ∙ Built 1926
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $2.61
    •  
  • 4063 Dwight St San Diego, 1
    • 2 beds 1 baths ∙ 720 Sqft ∙ Built 1927 2 beds 1 baths ∙ 720 Sqft ∙ Built 1927
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $2.71
    •  
  • 3465 Wightman St San Diego, 3
    • 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.58
    •  
  • 4616 Cherokee Ave San Diego, 4
    • 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $2.53
    •  
PROPERTY LISTING DETAILS
Erick Gydesen
1.858.430.8200
Big Block Realty, Inc.
BESbswy