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3687 Madison Ave San Diego, CA 92116

2 Beds 1 Baths 959 sqft Built 1937

$734,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1937
  • Price/Sqft : $765.38
  • 5 Days on Market
  • MLS # : 200050756
  • Updated Date : 11/06/2020 at 19:11
CONSTRUCTION
  • Beds : 2
  • Floor Size : 959 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Welcome home to Normal Heights, a true jewel in San Diego's central metroplex. Storybook drive up charm, exceptional location and fantastic floorplan makes this home one you will not want to miss out on. The residence is a perfect mixture of period details & charm, as well as excellent form and function. Enter and you get a wonderful feel of openness as the living & dining flow in and out of each other. The bedrooms are spacious, complete with walk in closets and ceiling fans (living room also). See suppl

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: Normal Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $141k621k

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

Neighborhood: Normal Heights

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
Normal Heights Elementary School Primary Regular 316 11 6
Wilson Middle School Middle Regular 621 30 3
Hoover High School High Regular 2,019 97 4

Normal Heights Elementary School

  • Education Level: Primary
  • # of students: 316
  • # of teachers: 11
6
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
 

$660,600$807,400$734,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,708
Property Tax -$713
Property Insurance -$51
Property Management Fees -$129
CASH FLOW
-$1,051

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.

$734,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 9.4%
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

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$200,260

INVESTMENT

$200,260

Down Payment
$183,500
Rehab Estimate
$5,750
Closing Costs
$11,010

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,708

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $183,500
Loan Amount $550,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $2.66

    LIST RENT PER SQFT
  • $2,390

    COMP ESTIMATED VALUE
  • $2.49

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,2503$2,4954$2,5505$2,995
$2,995
RENT COMPS ANALYSIS
  • 3687 Madison Ave San Diego, CA 4
    • 2 beds 1 baths ∙ 959 Sqft ∙ Built 1937 2 beds 1 baths ∙ 959 Sqft ∙ Built 1937
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $2.66
    •  
  • 4033 Wilson Ave. San Diego, CA 1
    • 2 beds 1 baths ∙ 806 Sqft ∙ Built 1943 2 beds 1 baths ∙ 806 Sqft ∙ Built 1943
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $2.35
    •  
  • 3465 Wightman St San Diego, CA 2
    • 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.58
    •  
  • 4616 Cherokee Ave San Diego, CA 3
    • 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
    •  
  • 3605 Herman Avenue San Diego, CA 5
    • 2 beds 1 baths ∙ 1,195 Sqft ∙ Built 1922 2 beds 1 baths ∙ 1,195 Sqft ∙ Built 1922
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.51
    •  
PROPERTY LISTING DETAILS
Ken Pecus
1.619.675.0123
Compass
BESbswy