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3678 Herbert Street San Diego, CA 92103

4 Beds 3 Baths 2,338 sqft Built 1946

$1,550,000

List Price

$4,670

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $662.96
  • 4 Days on Market
  • MLS # : 210001689
  • Updated Date : 01/23/2021 at 22:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,338 sqft
  • Baths : 3 full
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

Located in the prestigious Marston Hills subdivision of Hillcrest, the “Herbert Tree House” is a canyon retreat just blocks away from the City, Balboa Park, and the Zoo. Boasting an open-floor layout, a custom gourmet kitchen with top-of-the-line Viking and KitchenAid appliances, and *two* decks, this "smart" home exemplifies indoor-outdoor lifestyle. This home is nestled on over 12,000 SF of canyon preserve, and is sure to delight those who want modern conveniences in a verdant and tranquil setting.

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: Hillcrest

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $210k746k

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

Neighborhood: Hillcrest

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
Birney Elementary School Primary Magnet 565 21 9
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Birney Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 21
9
GreatSchools Rating

Roosevelt International Middle School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 48
4
GreatSchools Rating

San Diego High School

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

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

PURCHASE PRICE

$4,203$5,137$4,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,670
EXPENSES Loan Payment -$5,384
Property Tax -$1,506
Property Insurance -$86
Property Management Fees -$129
CASH FLOW
-$2,434

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

$4,670

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 4.7%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$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 70% down payment or higher enables the proceeds from the asset to cover all costs.

$5,384

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $387,500
Loan Amount $1,162,500
See What Happens When You Reinvest Cash Flow

0.17

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
  • $4,092

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,850
$3,850
RENT COMPS ANALYSIS
  • 3678 Herbert Street San Diego, CA 1
    • 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1946 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3218 2nd Ave San Diego, CA 2
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1946 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1946
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.75
    •  
PROPERTY LISTING DETAILS
Chassity Doremus
1.760.200.7374
Big Block Realty, Inc.
BESbswy