Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4550 Norma Dr San Diego, CA 92115

3 Beds 2 Baths 1,976 sqft Built 1940

INVESTimate

$995,000

List Price

$3,670

$3,420 - $3,920

Rent Est.

$1,038,382  ( +4.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1940
  • Price/Sqft : $503.54
  • 6 Days on Market
  • MLS # : 200040605
  • Updated Date : 08/22/2020 at 20:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,976 sqft
  • Baths : 2 full
Listing Agent

Joe Carta Realty

Listing Agent's Description

Welcome home to Historic Norma Dr. This vintage 1940’s Mediterranean CANYON VIEW home is located on one of Talmadge’s most iconic streets. This home features period architectural details including crown molding, bay-windows, archways, newly refinished original hardwood floors, stain glass window, fireplace, Tiffany-style ceiling lamps, boxed beam ceilings, built-ins combined with tasteful updates. Kitchen features include indoor/outdoor dining, new cabinetry, farmhouse sink, quartz countertops.

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: Talmadge

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650kPrice in $223k674k

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

Neighborhood: Talmadge

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $15142982

* 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
 

$895,500$1,094,500$995,000

PURCHASE PRICE

$3,303$4,037$3,670

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,670
EXPENSES Loan Payment -$3,671
Property Tax -$967
Property Insurance -$77
HOA -$150
Property Management Fees -$129
CASH FLOW
-$1,324

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.

$995,000

PROJECTED PRICE

$3,670

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 4.36%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$269,425

INVESTMENT

$269,425

Down Payment
$248,750
Rehab Estimate
$5,750
Closing Costs
$14,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,671

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $248,750
Loan Amount $746,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,670

    LIST RENT
  • $1.86

    LIST RENT PER SQFT
  • $4,071

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$3,550
1$3,5502$3,6703$3,950
$3,950
RENT COMPS ANALYSIS
  • 4550 Norma Dr San Diego, 2
    • 3 beds 2 baths ∙ 1,976 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,976 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $3,670
    • $1.86
    •  
  • 3650 28th Street San Diego, 1
    • 3 beds 2 baths ∙ 2,056 Sqft ∙ Built 1926 3 beds 2 baths ∙ 2,056 Sqft ∙ Built 1926
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.73
    •  
  • 4688 Vista St. San Diego, 3
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1924 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1924
    LEASED 04/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.39
    •  
PROPERTY LISTING DETAILS
John Caron
1.415.244.7469
Joe Carta Realty
BESbswy