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4010 Ecochee Ave San Diego, CA 92117

4 Beds 2 Baths 1,549 sqft Built 1954

INVESTimate

$865,000

List Price

$2,900

$2,650 - $3,150

Rent Est.

$927,799  ( +7.26%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $558.42
  • 6 Days on Market
  • MLS # : 200040460
  • Updated Date : 08/22/2020 at 15:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,549 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Bay Ho home with CANYON VIEWS!!!! This is the one you have been waiting for! This 4 bedroom, 2 bathroom ranch-style home has all the upgrades you can imagine, and is move-in ready, fully loaded. As you walk up, enjoy gazing upon the drought resistant landscaping, all completely redone in the past few years. Inside you will enjoy Bamboo hardwood flooring and 18” Italian porcelain tiles flooring that flows throughout home.

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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: Bay Ho

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $233k746k

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

Neighborhood: Bay Ho

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16273384

* 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
Cadman Elementary School Primary Regular 183 8 7
Marston Middle School Middle Regular 739 31 6
Clairemont High School High Regular 1,067 55 6

Cadman Elementary School

  • Education Level: Primary
  • # of students: 183
  • # of teachers: 8
7
GreatSchools Rating

Marston Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 31
6
GreatSchools Rating

Clairemont High School

  • Education Level: High
  • # of students: 1,067
  • # of teachers: 55
6
GreatSchools Rating
 

$778,500$951,500$865,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$3,191
Property Tax -$840
Property Insurance -$66
Property Management Fees -$129
CASH FLOW
-$1,327

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.

$865,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.26%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$234,975

INVESTMENT

$234,975

Down Payment
$216,250
Rehab Estimate
$5,750
Closing Costs
$12,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,191

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $216,250
Loan Amount $648,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$486

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
  • $3,057

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8003$2,9954$3,000
$3,000
RENT COMPS ANALYSIS
  • 4010 Ecochee Ave San Diego, 1
    • 4 beds 2 baths ∙ 1,549 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,549 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4546 Gila San Diego, 2
    • 4 beds 2 baths ∙ 1,471 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,471 Sqft ∙ Built 1954
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.90
    •  
  • 2790 Arcola Ave. San Diego, 3
    • 4 beds 2 baths ∙ 1,458 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,458 Sqft ∙ Built 1968
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.05
    •  
  • 5152 Providence Rd San Diego, 4
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1958
    LEASED 05/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.97
    •  
PROPERTY LISTING DETAILS
Cheree Bray
1.858.354.8457
Redfin Corporation
BESbswy