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4359 Cleveland Avenue San Diego, CA 92103

4 Beds 3 Baths 1,899 sqft Built 1912

$899,000

List Price

$4,120

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1912
  • Price/Sqft : $473.41
  • 3 Days on Market
  • MLS # : 210003818
  • Updated Date : 02/13/2021 at 00:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,899 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pasas Properties

Listing Agent's Description

This Historical craftsman beauty was built in 1912 zoned RM 2-5 comes with so much original charm. Has not been on the market for over 70 years! As you enter you are surrounded by stunning wood-beamed ceilings architectural arches and a gas fireplace.  Full bed and bath downstairs with french doors to patio.  Wood floors under carpet, Walk-in closets, 1/2 bath by kitchen.  Large yard with 2 car garage, separate workshop/shed.  Upgraded 200 amp electrical. So many possibilities, potential Mills Act & ADU.

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: University Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $189k746k

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

Neighborhood: University Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16033384

* 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
Birney Elementary School Primary Magnet 565 21 9
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Birney Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 21
9
GreatSchools Rating

Roosevelt International Middle School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 48
4
GreatSchools Rating

San Diego High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$3,708$4,532$4,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,120
EXPENSES Loan Payment -$3,123
Property Tax -$873
Property Insurance -$75
Property Management Fees -$129
CASH FLOW
-$80

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.

$899,000

PROJECTED PRICE

$4,120

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$70,152

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
  • $4,586

    COMP ESTIMATED VALUE
  • $2.42

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,7003$4,250
$4,250
RENT COMPS ANALYSIS
  • 4359 Cleveland Avenue San Diego, CA 1
    • 4 beds 3 baths ∙ 1,899 Sqft ∙ Built 1912 4 beds 3 baths ∙ 1,899 Sqft ∙ Built 1912
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3041 2nd Ave San Diego, CA 2
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1930
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.22
    •  
  • 4656 Georgia St. San Diego, CA 3
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1909 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1909
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.61
    •  
PROPERTY LISTING DETAILS
Linda Pasas
1.619.977.4650
Pasas Properties
BESbswy