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4134 Narragansett San Diego, CA 92107

3 Beds 2 Baths 2,341 sqft Built 1948

INVESTimate

$970,000

List Price

$4,400

$4,150 - $4,650

Rent Est.

$1,070,783  ( +10.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1948
  • Price/Sqft : $414.35
  • 2 Days on Market
  • MLS # : 200041115
  • Updated Date : 08/26/2020 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,341 sqft
  • Baths : 2 full
Listing Agent

Pacific Real Estate Center

Listing Agent's Description

Original home of 1416 sq ft w/ hardwood floors, expanded over the years to over 2300 sq ft (permits unknown) including new living room & basement rooms. Large lot at the top of the hill w/ peaceful views & coastal breezes over the sparkling pool. EZ walking distance to great elementary, middle & High School, just 1.2 mi to the OB Pier & 9 minute drive to San Diego Airport. Lots of parking in long driveway and pavered strip in addition to garage now used for storage. Perfect sweat equity opportunity!

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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: Point Loma Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $233k944k

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

Neighborhood: Point Loma Highlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400Rent in $16273599

* 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
 

$873,000$1,067,000$970,000

PURCHASE PRICE

$3,960$4,840$4,400

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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,400
EXPENSES Loan Payment -$3,579
Property Tax -$942
Property Insurance -$86
Property Management Fees -$129
CASH FLOW
-$336

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.

$970,000

PROJECTED PRICE

$4,400

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 10.39%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$262,800

INVESTMENT

$262,800

Down Payment
$242,500
Rehab Estimate
$5,750
Closing Costs
$14,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$3,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $242,500
Loan Amount $727,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$65,253

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
  • $5,096

    COMP ESTIMATED VALUE
  • $2.18

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,9953$4,9754$5,795
$5,795
RENT COMPS ANALYSIS
  • 4134 Narragansett San Diego, 1
    • 3 beds 2 baths ∙ 2,341 Sqft ∙ Built 1948 3 beds 2 baths ∙ 2,341 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3818 Coronado Ave San Diego, 2
    • 4 beds 2 baths ∙ 2,151 Sqft ∙ Built 1951 4 beds 2 baths ∙ 2,151 Sqft ∙ Built 1951
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.86
    •  
  • 1474 Liggett Way San Diego, 3
    • 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 1957 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 1957
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,975
    • $2.09
    •  
  • 941 Cornish Dr San Diego, 4
    • 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 1964 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 1964
    LEASED 04/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,795
    • $2.58
    •  
PROPERTY LISTING DETAILS
Patti Adams
1.619.887.9313
Pacific Real Estate Center
BESbswy