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3803 Del Mar Ave San Diego, CA 92106

3 Beds 4 Baths 2,887 sqft Built 1956

$1,675,000

List Price

$5,170

$4.9K - $5.4K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $580.19
  • 7 Days on Market
  • MLS # : 200053459
  • Updated Date : 12/11/2020 at 17:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,887 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker West

Listing Agent's Description

One of a Kind Custom Resort Retreat! Single Level Home, sits above the street for ultimate privacy & tranquility! Ipe Decking, Zen dual Koi ponds & water feature greet you. Open floor plan, 2-sided fireplace, mahogany cabinets, granite counters, huge island & built-ins like no other. Owned solar means your electric bill is almost free. Indoor/outdoor living is an entertainer's paradise! Stunning pool with Baja shelf, waterfall & separate solar + built in BBQ area, outdoor shower & wrap around decking.

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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: Fleetridge

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $233k1250k

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

Neighborhood: Fleetridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $16274657

* 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 Gate Elementary School Primary Regular 569 21 9
Correia Middle School Middle Regular 838 32 7
Point Loma High School High Regular 1,880 79 8

Silver Gate Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 21
9
GreatSchools Rating

Correia Middle School

  • Education Level: Middle
  • # of students: 838
  • # of teachers: 32
7
GreatSchools Rating

Point Loma High School

  • Education Level: High
  • # of students: 1,880
  • # of teachers: 79
8
GreatSchools Rating
 

$1,507,500$1,842,500$1,675,000

PURCHASE PRICE

$4,653$5,687$5,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,170
EXPENSES Loan Payment -$6,180
Property Tax -$1,627
Property Insurance -$100
Property Management Fees -$129
CASH FLOW
-$2,866

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.

$1,675,000

PROJECTED PRICE

$5,170

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.8%
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$1.0M$2.0M$3.0M$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$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$449,625

INVESTMENT

$449,625

Down Payment
$418,750
Rehab Estimate
$5,750
Closing Costs
$25,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $418,750
Loan Amount $1,256,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$198

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
  • $5,726

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,9503$5,5004$5,800
$5,800
RENT COMPS ANALYSIS
  • 3803 Del Mar Ave San Diego, CA 1
    • 3 beds 4 baths ∙ 2,887 Sqft ∙ Built 1956 3 beds 4 baths ∙ 2,887 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3435 Charles St San Diego, CA 2
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1966
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $1.75
    •  
  • 3126 Russell Street San Diego, CA 3
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 1975
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.15
    •  
  • 3624 Warner St San Diego, CA 4
    • 4 beds 3 baths ∙ 2,827 Sqft ∙ Built 1952 4 beds 3 baths ∙ 2,827 Sqft ∙ Built 1952
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,800
    • $2.05
    •  
PROPERTY LISTING DETAILS
Tami Fuller
1.619.226.8264
Coldwell Banker West
BESbswy