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3976 Idaho St San Diego, CA 92104

2 Beds 2 Baths 1,212 sqft Built 1945

$1,075,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1945
  • Price/Sqft : $886.96
  • 11 Days on Market
  • MLS # : 200050122
  • Updated Date : 11/06/2020 at 04:15
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,212 sqft
  • Baths : 2 full
Listing Agent

Joe Carta Realty

Listing Agent's Description

Rare opportunity in Historic North Park, diverse & rich in local history...The perfect 2 family home, (OR) INCOME PROPERTY, completely remodeled from top to bottom, Vintage gumwood built-ins, remodeled kitchens, newer flooring, some original re-finished hardwood, SS appliances, (2) washers & dryers, 'split system' Air Cond/heating, private fenced yard, lot size 50x90, long driveway leading to an oversized 2 car garage. Walking distance to the 'Iconic 4 Corners of North Park', 30th Street & University Ave.

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
Jefferson Elementary School Primary Regular 365 15 7
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 365
  • # of teachers: 15
7
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
 

$967,500$1,182,500$1,075,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$3,966
Property Tax -$1,052
Property Insurance -$58
Property Management Fees -$129
CASH FLOW
-$2,095

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.

$1,075,000

PROJECTED PRICE

$3,110

PROJECTED RENT

0.29%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$290,625

INVESTMENT

$290,625

Down Payment
$268,750
Rehab Estimate
$5,750
Closing Costs
$16,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,966

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $268,750
Loan Amount $806,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$97

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $2.57

    LIST RENT PER SQFT
  • $3,342

    COMP ESTIMATED VALUE
  • $2.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$3,1103$3,2004$3,6005$3,700
$3,700
RENT COMPS ANALYSIS
  • 3976 Idaho St San Diego, CA 2
    • 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1945
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $2.57
    •  
  • 3704 A Arizona St #a San Diego, CA 1
    • 3 beds 2 baths ∙ 950 Sqft ∙ Built 1925 3 beds 2 baths ∙ 950 Sqft ∙ Built 1925
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.89
    •  
  • 4755 33rd Street San Diego, CA 3
    • 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
    •  
  • 4415 Arizona St San Diego, CA 4
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1935
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.74
    •  
  • 3605 Texas St San Diego, CA 5
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1931
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.72
    •  
PROPERTY LISTING DETAILS
Joe Carta
1.619.227.0949
Joe Carta Realty
BESbswy