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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $959.37
- 3 Days on Market
- MLS # : 210001203
- Updated Date : 01/15/2021 at 22:47
CONSTRUCTION
- Beds : 3
- Floor Size : 1,329 sqft
- Baths : 2 full
Listing Agent
Pacific Real Estate Center
Listing Agent's Description
Immaculate & cute as a button, this 3Br/2ba home, situated high up off the street to maximize the area views & to provide extra privacy, is sure to capture you the moment you enter. Graciously laid out on one level, the owner has meticulously cared for & upgraded this home. Features include newer AC, a tank-less water heater, a renovated bathroom, a 2-car det. garage with lots of extra off-street parking, & a completely re-imagined & re-designed, tri-level back yard. A truly special home - it won't last!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Point Loma Highlands
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Point Loma Highlands
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,620 |
| EXPENSES | Loan Payment | -$4,429 |
| Property Tax | -$1,239 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$2,237
|
||
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.
$1,275,000
PROJECTED PRICE
$3,620
PROJECTED RENT
0.28%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.41% |
| Appreciation Year (1-5) | 10.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.56% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$343,625
LOAN DETAILS
$4,429
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $318,750 |
| Loan Amount | $956,250 |
0.17
YEARS SAVED
$112
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
-
$3,921
COMP ESTIMATED VALUE -
$2.95
COMP AVG. RENT PER SQFT
Comps Range
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4045 Narragansett San Diego, CA 1
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- Rent
- Rent Per SQFT
- $0
- $0.00
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4450 Coronado Ave San Diego, CA 2
- 3 beds 1 baths ∙ 1,096 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,096 Sqft ∙ Built 1952
LEASED 02/05/20- Rent
- Rent Per SQFT
- $3,200
- $2.92
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3920 Tennyson St San Diego, CA 3
- 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1940
LEASED 05/07/20- Rent
- Rent Per SQFT
- $3,500
- $2.47
-
1110 Alexandria Dr San Diego, CA 4
- 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1952
LEASED 06/24/20- Rent
- Rent Per SQFT
- $3,875
- $3.18
-
4246 Coronado Ave San Diego, CA 5
- 3 beds 2 baths ∙ 1,239 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,239 Sqft ∙ Built 1947
LEASED 08/18/20- Rent
- Rent Per SQFT
- $4,000
- $3.23
PROPERTY LISTING DETAILS
1.619.572.7879
Pacific Real Estate Center
