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4391 Hermosa Way San Diego, CA 92103

4 Beds 3 Baths 2,797 sqft Built 1936

INVESTimate

$1,350,000

List Price

$5,200

$4,950 - $5,450

Rent Est.

$1,407,780  ( +4.28%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1936
  • Price/Sqft : $482.66
  • 2 Days on Market
  • MLS # : 200041185
  • Updated Date : 08/26/2020 at 08:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,797 sqft
  • Baths : 2 full , 1 half
Listing Agent

Integrity Partners Real Estate

Listing Agent's Description

RARE OPPORTUNITY TO LIVE ON ONE OF THE MOST DESIRABLE STREETS IN NORTH MISSION HILLS! Premium canyon view estate situated on over 1/2 acre lot with views from almost every room. This approximately 2797 Sq ft Santa Fe Style Architecture home features 4 bedrooms 2.75 baths, 2-car garage with Master Bedroom on main floor. Enclosed Sun Porch off Dining Room with tranquil canyon views. Hardwood floors professionally refinished, several new windows. Fantastic opportunity! Must see to appreciate the potential.

SEE MORE

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: Mission Hills

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $233k1077k

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

Neighborhood: Mission Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $16274202

* 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
Grant Elementary School Primary Regular 718 31 8
Grant Elementary School Middle Regular 718 31 8
Point Loma High School High Regular 1,880 79 8

Grant Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 31
8
GreatSchools Rating

Grant Elementary School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 31
8
GreatSchools Rating

Point Loma High School

  • Education Level: High
  • # of students: 1,880
  • # of teachers: 79
8
GreatSchools Rating
 

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$4,680$5,720$5,200

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-$20k-$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 $5,200
EXPENSES Loan Payment -$4,981
Property Tax -$1,311
Property Insurance -$98
Property Management Fees -$129
CASH FLOW
-$1,319

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.

$1,350,000

PROJECTED PRICE

$5,200

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 4.28%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$4,981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$21,741

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
  • $6,489

    COMP ESTIMATED VALUE
  • $2.32

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$6,500
$6,500
RENT COMPS ANALYSIS
  • 4391 Hermosa Way San Diego, 1
    • 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 1936 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 1936
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1981 Linwood San Diego, 2
    • 3 beds 3 baths ∙ 2,800 Sqft ∙ Built 1920 3 beds 3 baths ∙ 2,800 Sqft ∙ Built 1920
    property image
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $6,500
    • $2.32
    •  
PROPERTY LISTING DETAILS
Steven Selman
1.619.840.3249
Integrity Partners Real Estate
BESbswy