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4240 Madison San Diego, CA 92116

2 Beds 1 Baths 1,044 sqft Built 1932

$750,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1932
  • Price/Sqft : $718.39
  • 5 Days on Market
  • MLS # : 200050244
  • Updated Date : 10/30/2020 at 13:36
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,044 sqft
  • Baths : 1 full
Listing Agent

Market Real Estate

Listing Agent's Description

Outstanding Kensington opportunity, one block from Adams Avenue. This home features an abundance of charm, including hardwood floors, built-in bookcases, and tile kitchen counters. Large living room with fireplace. Light and bright breakfast area. Laundry off the kitchen. Spacious and airy bedrooms. Enchanting outdoor space with beautiful garden and plenty of patio space. Tiled entry porch. Updated electrical panel. HVAC system. Walk to shopping & dining on Adams Avenue. A great value and true must see!

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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
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,767
Property Tax -$729
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$1,128

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.

$750,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.34%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $2.44

    LIST RENT PER SQFT
  • $2,631

    COMP ESTIMATED VALUE
  • $2.52

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5503$2,995
$2,995
RENT COMPS ANALYSIS
  • 4240 Madison San Diego, CA 2
    • 2 beds 1 baths ∙ 1,044 Sqft ∙ Built 1932 2 beds 1 baths ∙ 1,044 Sqft ∙ Built 1932
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $2.44
    •  
  • 4616 Cherokee Ave San Diego, CA 1
    • 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $2.53
    •  
  • 3605 Herman Avenue San Diego, CA 3
    • 2 beds 1 baths ∙ 1,195 Sqft ∙ Built 1922 2 beds 1 baths ∙ 1,195 Sqft ∙ Built 1922
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.51
    •  
PROPERTY LISTING DETAILS
Jeff Rosa
1.619.886.8790
Market Real Estate
BESbswy