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3666 Suffolk Drive San Diego, CA 92115

3 Beds 2 Baths 1,416 sqft Built 1957

$610,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $430.79
  • 6 Days on Market
  • MLS # : 210005480
  • Updated Date : 03/04/2021 at 23:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,416 sqft
  • Baths : 1 full , 1 half
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

Great family neighborhood on the border of La Mesa and San Diego. Easy freeway access with nearby shopping and restaurants. This larger home for the area boasts a permitted 14x16 family room with solid wood beams and lots of natural light. Refinished hardwood floors and dual-paned windows throughout this lovely three bedroom, 1.5 bath home. There is a fenced backyard and covered patio for fun family gatherings. Enough side yard for RV parking too!

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: Rolando Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $172k621k

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

Neighborhood: Rolando Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12872982

* 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
Rolando Park Elementary School Primary Regular 230 10 8
Mann Middle School Middle Regular 760 44 3
Crawford High School High Unknown NA

Rolando Park Elementary School

  • Education Level: Primary
  • # of students: 230
  • # of teachers: 10
8
GreatSchools Rating

Mann Middle School

  • Education Level: Middle
  • # of students: 760
  • # of teachers: 44
3
GreatSchools Rating

Crawford High School

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

$549,000$671,000$610,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,119
Property Tax -$605
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
-$396

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.

$610,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,119

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$18,770

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
  • $2,756

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6953$2,7004$2,795
$2,795
RENT COMPS ANALYSIS
  • 3666 Suffolk Drive San Diego, CA 1
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3440 Hershey St San Diego, CA 2
    • 3 beds 1 baths ∙ 1,501 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,501 Sqft ∙ Built 1951
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.80
    •  
  • 4108 Casita Way San Diego, CA 3
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1960
    property image
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.04
    •  
  • 5841 Hughes St. San Diego, CA 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1961
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.00
    •  
PROPERTY LISTING DETAILS
Robert Burke
1.619.823.9722
Big Block Realty, Inc.
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005480
Last Updated: 03/04/2021
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