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PROPERTY INFO
FACTS
- Single Family
- Built In 1938
- Price/Sqft : $756.39
- 2 Days on Market
- MLS # : 210004480
- Updated Date : 02/20/2021 at 18:08
CONSTRUCTION
- Beds : 2
- Floor Size : 1,096 sqft
- Baths : 2 full
Listing Agent
Luis Blanco Real Estate
Listing Agent's Description
Beautiful & Completely Remodeled 2 Bedroom 2 Bath In North Park! New Kitchen, Soft Close Custom Cabinets, Waterfall Edge Counter Tops, Farm Sink, Stainless Steel Appliances, Indoor Laundry With Folding Counter And Utility Sink! New Bathrooms, New Tile Floors, Shower, New Fixtures, Finishes & More! Extra Large Living Room With Cozy Fireplace, Open Beam Double Height Ceilings, And Full Size Dining Room! Master Bedroom With Master Bath. Bonus Detached Room/Structure In The Back Yard Makes For A Perfect Additional Living Space: Craft Room, Office, Gym? Property Is Zoned R-3, Possible ADU??. Low Maintenance Front And Back Yard, Fully Fenced, Storage Shed Plus Attached Garage For Easy Parking. Walking Distance to Shops, Close to Freeways, and Minutes to Downtown, Mission Valley, South Park, Naval Base! A Must See!
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Normal Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Normal Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,610 |
| EXPENSES | Loan Payment | -$2,879 |
| Property Tax | -$812 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$1,265
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$829,000
PROJECTED PRICE
$2,610
PROJECTED RENT
0.31%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 9.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.80% |
| 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
$225,435
LOAN DETAILS
$2,879
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $207,250 |
| Loan Amount | $621,750 |
0.25
YEARS SAVED
$183
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,784
COMP ESTIMATED VALUE -
$2.54
COMP AVG. RENT PER SQFT
Comps Range
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4386 33rd Pl San Diego, CA 1
- 2 beds 2 baths ∙ 1,096 Sqft ∙ Built 1938 2 beds 2 baths ∙ 1,096 Sqft ∙ Built 1938
- Rent
- Rent Per SQFT
- $0
- $0.00
-
3465 Wightman St San Diego, CA 2
- 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944
LEASED 06/23/20- Rent
- Rent Per SQFT
- $2,250
- $2.58
-
4616 Cherokee Ave San Diego, CA 3
- 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939
LEASED 07/20/20- Rent
- Rent Per SQFT
- $2,495
- $2.53
-
3605 Herman Avenue San Diego, CA 4
- 2 beds 1 baths ∙ 1,195 Sqft ∙ Built 1922 2 beds 1 baths ∙ 1,195 Sqft ∙ Built 1922
LEASED 06/07/20- Rent
- Rent Per SQFT
- $2,995
- $2.51
PROPERTY LISTING DETAILS
1.619.261.1094
Luis Blanco Real Estate
MLS #: 210004480
Last Updated: 02/20/2021
