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

3666 Conrad Ave San Diego, CA 92117

4 Beds 3 Baths 1,632 sqft Built 1957

$849,900

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $520.77
  • 3 Days on Market
  • MLS # : 200054287
  • Updated Date : 12/19/2020 at 15:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,632 sqft
  • Baths : 3 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Beautifully upgraded 4 bedroom 3 bath "North Clairemont" POOL home! This home features 2 master suites with custom tile showers. Sparkling new kitchen with custom tile backsplash, "waterfall" quartz countertops, recessed lighting & stainless steel appliances. Laminate flooring in common areas. Carpet & ceiling fans in bedrooms. Other upgrades include indoor laundry room, freshly painted interior & exterior. Features a yard for entertaining and a beautiful pool, perfect for staying cool during the summer.

SEE MORE

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: North Clairemont

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $223k642k

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

Neighborhood: North Clairemont

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
Whitman Elementary School Primary Regular 265 15 3
Innovation Middle School Middle Regular 434 19 4
Madison High School High Regular 1,161 60 5

Whitman Elementary School

  • Education Level: Primary
  • # of students: 265
  • # of teachers: 15
3
GreatSchools Rating

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
 

$764,910$934,890$849,900

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$3,136
Property Tax -$824
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$903

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.

$849,900

PROJECTED PRICE

$3,250

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.4%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$230,974

INVESTMENT

$230,974

Down Payment
$212,475
Rehab Estimate
$5,750
Closing Costs
$12,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,475
Loan Amount $637,425
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$11,755

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
  • $3,309

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9003$3,1504$3,1955$3,750
$3,750
RENT COMPS ANALYSIS
  • 3666 Conrad Ave San Diego, CA 1
    • 4 beds 3 baths ∙ 1,489 Sqft ∙ Built 1957 4 beds 3 baths ∙ 1,489 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4546 Gila San Diego, CA 2
    • 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1954
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.97
    •  
  • 4430 Donald Ave San Diego, CA 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1961
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.42
    •  
  • 4590 Chateau Dr San Diego, CA 4
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1965
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.32
    •  
  • 4918 Gaylord Dr. San Diego, CA 5
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1973
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.18
    •  
PROPERTY LISTING DETAILS
Judi Reimer
1.310.948.5755
First Team Real Estate
BESbswy