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4503 Gardena Ave San Diego, CA 92110

4 Beds 3 Baths 2,131 sqft Built 1980

$1,170,000

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $549.04
  • 4 Days on Market
  • MLS # : 200054151
  • Updated Date : 12/19/2020 at 03:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,131 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cassidy & Assoc. Real Estate

Listing Agent's Description

Darling corner Bay Park dream home with entertainment and charm front and center. The dining/breakfast room off the kitchen allows separate entry to the rear deck and the detached two car garage. French doors open to another intimate garden patio area - off the large wood floored living room with fireplace. The downstairs bedroom with separate entrance and bathroom close-by can also be used as a full office or guest room.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bay Park

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $233k804k

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

Neighborhood: Bay Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16273384

* 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
Bay Park Elementary School Primary Regular 433 16 8
Marston Middle School Middle Regular 739 31 6
Clairemont High School High Regular 1,067 55 6

Bay Park Elementary School

  • Education Level: Primary
  • # of students: 433
  • # of teachers: 16
8
GreatSchools Rating

Marston Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 31
6
GreatSchools Rating

Clairemont High School

  • Education Level: High
  • # of students: 1,067
  • # of teachers: 55
6
GreatSchools Rating
 

$1,053,000$1,287,000$1,170,000

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$4,317
Property Tax -$1,137
Property Insurance -$81
Property Management Fees -$129
CASH FLOW
-$1,863

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.

$1,170,000

PROJECTED PRICE

$3,800

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.5%
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$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$315,800

INVESTMENT

$315,800

Down Payment
$292,500
Rehab Estimate
$5,750
Closing Costs
$17,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $292,500
Loan Amount $877,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$271

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
  • $3,949

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,4954$4,000
$4,000
RENT COMPS ANALYSIS
  • 4503 Gardena Ave San Diego, CA 1
    • 4 beds 3 baths ∙ 2,131 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,131 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5766 Riley St San Diego, CA 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1989
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.67
    •  
  • 3644 Princeton Ave San Diego, CA 3
    • 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1993
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.91
    •  
  • 3772 Vista De La Bahia San Diego, CA 4
    • 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1968
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.98
    •  
PROPERTY LISTING DETAILS
Tim Cassidy
1.619.607.5968
Cassidy & Assoc. Real Estate
BESbswy