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3757 Ashford St San Diego, CA 92111

3 Beds 1 Baths 1,092 sqft Built 1958

INVESTimate

$689,000

List Price

$2,240

$2,016 - $2,464

Rent Est.

$740,193  ( +7.43%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $630.95
  • 6 Days on Market
  • MLS # : 200040468
  • Updated Date : 08/24/2020 at 00:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,092 sqft
  • Baths : 1 full
Listing Agent

Brent J Enderson, Broker

Listing Agent's Description

Amazing Clairemont remodel with a desirable location near Lindbergh Park and Ross Elementary. New kitchen with white shaker cabinets, quartz countertops, and black stainless steel appliances. New wood laminate flooring and baseboards, New doors and hardware, Ceiling fans in all bedrooms, Plantation shutters in bedroom windows, Remodeled bath. Covered back patio, large rear yard with a vegetable garden area and a detached storage building that would make a great home office.

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: Clairemont Mesa East

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $214k621k

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

Neighborhood: Clairemont Mesa East

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
Ross Elementary School Primary Regular 327 12 4
Montgomery Middle School Middle Regular 475 27 3
Kearney High School High Magnet 322 16 6

Ross Elementary School

  • Education Level: Primary
  • # of students: 327
  • # of teachers: 12
4
GreatSchools Rating

Montgomery Middle School

  • Education Level: Middle
  • # of students: 475
  • # of teachers: 27
3
GreatSchools Rating

Kearney High School

  • Education Level: High
  • # of students: 322
  • # of teachers: 16
6
GreatSchools Rating
 

$620,100$757,900$689,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$2,542
Property Tax -$669
Property Insurance -$55
Property Management Fees -$129
CASH FLOW
-$1,155

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.

$689,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.43%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,335

INVESTMENT

$188,335

Down Payment
$172,250
Rehab Estimate
$5,750
Closing Costs
$10,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,542

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $172,250
Loan Amount $516,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$132

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $2.05

    LIST RENT PER SQFT
  • $2,195

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,240
1$2,2402$2,2453$2,750
$2,750
RENT COMPS ANALYSIS
  • 3757 Ashford St San Diego, 1
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $2.05
    •  
  • 8562 Hurlbut St. San Diego, 2
    • 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1959
    property image
    LEASED 02/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $1.99
    •  
  • 8672 Harjoan Ave San Diego, 3
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1962
    property image
    LEASED 03/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.03
    •  
PROPERTY LISTING DETAILS
Brent Enderson
1.619.992.4908
Brent J Enderson, Broker
BESbswy