Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3542 Chasewood San Diego, CA 92111

3 Beds 2 Baths 1,500 sqft Built 1962

$915,000

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $610.00
  • 3 Days on Market
  • MLS # : 210005752
  • Updated Date : 03/05/2021 at 20:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Re/max United

Listing Agent's Description

This fully remodeled, mid-century modern home features a well-thought out floor plan with the perfect combination of indoor/outdoor living. Floor to ceiling windows separate the family, living room and chef's kitchen, from the private atrium and provide an abundance of light and warmth. This turnkey, yet vintage gem is situated on a large, beautifully landscaped, private corner lot, perfect for entertaining or dining al fresco. Per seller, upgrades include, but are not limited to: new roof (4 years ago), upgrade of electrical panel, water heater, furnace, ductwork, newer fencing, landscaping and a smart irrigation system. This home has also been wired for fiber optic, high speed internet. In addition to all these upgrades, you have convenient access to freeways, beaches, medical facilities, shopping, the airport and all that San Diego has to offer! SHOWINGS TO START SATURDAY, 3/6. Showings 8:00--5:30. Please text (preferred) or call Linn at 619.985.5666 for appointment. Appointment will be confirmed once signed PEAD has been emailed to linnsellssd@gmail.com

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: Clairemont Mesa East

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $214k621k

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

Neighborhood: Clairemont Mesa East

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
Innovation Middle School Middle Regular 434 19 4
Madison High School High Regular 1,161 60 5
Innovation Middle School Middle Unknown NA

Innovation Middle School

  • Education Level: Middle
  • # of students: 434
  • # of teachers: 19
4
GreatSchools Rating

Madison High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 60
5
GreatSchools Rating

Innovation Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$823,500$1,006,500$915,000

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$3,178
Property Tax -$889
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$1,421

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.

$915,000

PROJECTED PRICE

$2,840

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$248,225

INVESTMENT

$248,225

Down Payment
$228,750
Rehab Estimate
$5,750
Closing Costs
$13,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,178

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $228,750
Loan Amount $686,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $2,648

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,8403$3,475
$3,475
RENT COMPS ANALYSIS
  • 3542 Chasewood San Diego, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $1.89
    •  
  • 5211 Mount Alifan Dr San Diego, CA 1
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1968
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.47
    •  
  • 6555 High Knoll Rd San Diego, CA 3
    • 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1980
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,475
    • $2.06
    •  
PROPERTY LISTING DETAILS
Linn Hariri
1.619.985.5666
Re/max United
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005752
Last Updated: 03/05/2021
BESbswy