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3712 Bancroft St San Diego, CA 92104

3 Beds 2 Baths 1,330 sqft Built 1962

$1,099,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $826.32
  • 4 Days on Market
  • MLS # : 210002341
  • Updated Date : 01/29/2021 at 21:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,330 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful turn-key home in the trendy North Park area! This 3 bed, 2 bath residence sits in the rear of the lot with a low maintenance front yard which is fully enclosed with a gorgeous privacy fence, and fake grass throughout. The interior has been tastefully remodeled and updated featuring a true open floor plan, wide plank engineered hardwood floors, recessed lighting, vaulted ceilings, and a newer A/C and furnace added. Sizeable kitchen has white cabinetry and stainless steel appliances.

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: North Park

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $201k621k

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

Neighborhood: North Park

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
Mckinley Elementary School Primary Regular 568 22 9
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Mckinley Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 22
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
 

$989,100$1,208,900$1,099,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$3,817
Property Tax -$1,068
Property Insurance -$61
Property Management Fees -$129
CASH FLOW
-$1,944

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.

$1,099,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.5%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$296,985

INVESTMENT

$296,985

Down Payment
$274,750
Rehab Estimate
$5,750
Closing Costs
$16,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,817

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $274,750
Loan Amount $824,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$100

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
  • $3,465

    COMP ESTIMATED VALUE
  • $2.61

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,8504$3,2005$3,500
$3,500
RENT COMPS ANALYSIS
  • 3712 Bancroft St San Diego, CA 1
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1953 Rowan Street San Diego, CA 2
    • 3 beds 2 baths ∙ 1,020 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,020 Sqft ∙ Built 1955
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.45
    •  
  • 1921 Rowan San Diego, CA 3
    • 3 beds 2 baths ∙ 1,089 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,089 Sqft ∙ Built 1955
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.62
    •  
  • 4755 33rd Street San Diego, CA 4
    • 3 beds 2 baths ∙ 1,194 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,194 Sqft ∙ Built 1945
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.68
    •  
  • 4627 E Talmadge Dr San Diego, CA 5
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1947
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.67
    •  
PROPERTY LISTING DETAILS
Charles Wheeler
1.267.242.7565
Redfin Corporation
BESbswy