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37 Bridgetown Bend Coronado, CA 92118

3 Beds 3 Baths 2,091 sqft Built 1989

$1,395,000

List Price

$4,750

$4.5K - $5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $667.14
  • 2 Days on Market
  • MLS # : 210002519
  • Updated Date : 01/30/2021 at 15:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,091 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Coronado Cays! Resort style area with a marina touch of class, comprised of a unique collection of upscale homes along Coronado's Silver Strand. Generously sized home with 3 Bedrooms and 3 Full Baths. All new Kitchen appliances, Living room & Master Bedroom fireplaces, awings on balcony & patio, hardwood flooring throughout and marble and granite throughout. New Air Conditioning/ Furnace with UV Air Filters, Updated Bathrooms. Patio off the Great Room and Kitchen upstairs. Newly painted and low maint.

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: Coronado

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $240k1519k

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

Neighborhood: Coronado

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000250030003500400045005000Rent in $16275382

* 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
Silver Strand Elementary School Primary Regular 321 11 8
Coronado Middle School Middle Regular 750 30 10
Coronado High School High Regular 1,193 54 9

Silver Strand Elementary School

  • Education Level: Primary
  • # of students: 321
  • # of teachers: 11
8
GreatSchools Rating

Coronado Middle School

  • Education Level: Middle
  • # of students: 750
  • # of teachers: 30
10
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 54
9
GreatSchools Rating
 

$1,255,500$1,534,500$1,395,000

PURCHASE PRICE

$4,275$5,225$4,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,750
EXPENSES Loan Payment -$4,845
Property Tax -$1,280
Property Insurance -$80
HOA -$333
Property Management Fees -$129
CASH FLOW
-$1,917

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.

$1,395,000

PROJECTED PRICE

$4,750

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 3.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$375,425

INVESTMENT

$375,425

Down Payment
$348,750
Rehab Estimate
$5,750
Closing Costs
$20,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,845

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $348,750
Loan Amount $1,046,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$935

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
  • $5,018

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,8003$5,1004$5,2005$5,500
$5,500
RENT COMPS ANALYSIS
  • 37 Bridgetown Bend Coronado, CA 1
    • 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 65 Aruba Bnd Coronado, CA 2
    • 3 beds 4 baths ∙ 1,972 Sqft ∙ Built 1989 3 beds 4 baths ∙ 1,972 Sqft ∙ Built 1989
    LEASED 01/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.43
    •  
  • 64 Trinidad Bnd Coronado, CA 3
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 1976 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 1976
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,100
    • $2.23
    •  
  • 47 Bridgetown Coronado, CA 4
    • 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 1989
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $5,200
    • $2.49
    •  
  • 77 Tunapuna Coronado, CA 5
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 1990
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.45
    •  
PROPERTY LISTING DETAILS
Mary Burton
1.619.654.1090
Keller Williams Realty
BESbswy