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4221 Madison Ave San Diego, CA 92116

4 Beds 3 Baths 1,583 sqft Built 1938

$999,000

List Price

$3,450

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1938
  • Price/Sqft : $631.08
  • 5 Days on Market
  • MLS # : 200050288
  • Updated Date : 10/30/2020 at 17:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,583 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker West

Listing Agent's Description

Kensington move-in ready 3br/2ba + ADU w separate entrance is the home you’ve been waiting for! Located 1 block S of vibrant Adams Ave, this charmer offers endless possibilities to LIVE in the main house & rent permitted ADU. Home features hardwood floors, spacious kitchen w island, SS appliances, terrific master suite w spacious walk-in closet, double sinks, soaking tub & shower. Master opens to entertaining yard w deck. Private 210 SF ADU built in 2019 is a studio w kitchenette, bath & patio. See video.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Kensington

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900kPrice in $233k990k

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

Neighborhood: Kensington

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16273695

* 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
Franklin Elementary School Primary Regular 287 8 4
Lewis Middle School Middle Regular 1,042 41 7
Henry High School High Regular 2,437 97 9

Franklin Elementary School

  • Education Level: Primary
  • # of students: 287
  • # of teachers: 8
4
GreatSchools Rating

Lewis Middle School

  • Education Level: Middle
  • # of students: 1,042
  • # of teachers: 41
7
GreatSchools Rating

Henry High School

  • Education Level: High
  • # of students: 2,437
  • # of teachers: 97
9
GreatSchools Rating
 

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,105$3,795$3,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,450
EXPENSES Loan Payment -$3,686
Property Tax -$970
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$1,402

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.

$999,000

PROJECTED PRICE

$3,450

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.8%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

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$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,802

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
  • $3,768

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,9003$4,250
$4,250
RENT COMPS ANALYSIS
  • 4221 Madison Ave San Diego, CA 1
    • 4 beds 3 baths ∙ 1,583 Sqft ∙ Built 1938 4 beds 3 baths ∙ 1,583 Sqft ∙ Built 1938
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3027 Bancroft San Diego, CA 2
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1932
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.29
    •  
  • 4068 Hilldale Rd. San Diego, CA 3
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1929
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.47
    •  
PROPERTY LISTING DETAILS
Katie Herrick
1.619.865.2085
Coldwell Banker West
BESbswy