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4605 El Cerrito Drive San Diego, CA 92115

3 Beds 2 Baths 1,662 sqft Built 1951

INVESTimate

$820,000

List Price

$3,280

$3,030 - $3,530

Rent Est.

$876,252  ( +6.86%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1951
  • Price/Sqft : $493.38
  • 8 Days on Market
  • MLS # : 200040050
  • Updated Date : 08/20/2020 at 09:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,662 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Ultra-charming El Cerrito property awaiting its new owner! Resting on a generous corner lot, the beautifully updated home has a light-filled interior with 3 bedrooms, 2 baths, formal living & dining rooms with a fireplace plus a gorgeous granite kitchen with stainless appliances open to the family room. Privacy abounds in the walled & gated backyard boasting new sod, 2 shaded patios & manicured landscaping. Ideally situated in the desirable El Cerrito neighborhood near SDSU, freeways, shopping & dining.

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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: College West

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650kPrice in $223k661k

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

Neighborhood: College West

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800300032003400Rent in $15143408

* 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
Fay Elementary School Primary Regular 726 27 4
Mann Middle School Middle Regular 760 44 3
Crawford High School High Regular 1,161 59 NA

Fay Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 27
4
GreatSchools Rating

Mann Middle School

  • Education Level: Middle
  • # of students: 760
  • # of teachers: 44
3
GreatSchools Rating

Crawford High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 59
NA
GreatSchools Rating
 

$738,000$902,000$820,000

PURCHASE PRICE

$2,952$3,608$3,280

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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 $3,280
EXPENSES Loan Payment -$3,025
Property Tax -$797
Property Insurance -$69
Property Management Fees -$129
CASH FLOW
-$740

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.

$820,000

PROJECTED PRICE

$3,280

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.86%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$223,050

INVESTMENT

$223,050

Down Payment
$205,000
Rehab Estimate
$5,750
Closing Costs
$12,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,025

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $205,000
Loan Amount $615,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$18,817

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 4605 El Cerrito Drive San Diego,
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Maxine Gellens
1.858.551.6630
Berkshire Hathaway Homeservice
BESbswy