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4679 Esther St San Diego, CA 92115

4 Beds 3 Baths 1,392 sqft Built 1944

$737,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1944
  • Price/Sqft : $529.45
  • 17 Days on Market
  • MLS # : 210002669
  • Updated Date : 02/05/2021 at 15:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,392 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams La Jolla

Listing Agent's Description

Flexible, Turnkey & Charming describe this cool home near SDSU. The main house is a 3/2 that can easily be converted to a 4/2 & the garage below is a 1 Bedroom Apartment with its own kitchen & full bathroom. Rent for cashflow, be a on-site landlord, or live in the main home & the apartment can be a Mother-In-Law suite! Plenty of parking with the oversized driveway & on the quiet street out front. The exterior features multiple entertaining spaces, a dog kennel, a newer roof, a jacuzzi with a view & more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$663,300$810,700$737,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$2,560
Property Tax -$716
Property Insurance -$62
Property Management Fees -$129
CASH FLOW
-$1,217

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.

$737,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,055

INVESTMENT

$201,055

Down Payment
$184,250
Rehab Estimate
$5,750
Closing Costs
$11,055

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,250
Loan Amount $552,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$77

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
  • $2,895

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6003$2,7004$2,9505$3,000
$3,000
RENT COMPS ANALYSIS
  • 4679 Esther St San Diego, CA 1
    • 4 beds 3 baths ∙ 1,392 Sqft ∙ Built 1944 4 beds 3 baths ∙ 1,392 Sqft ∙ Built 1944
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4305 W Overlook San Diego, CA 2
    • 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1950
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.09
    •  
  • 4108 Casita Way San Diego, CA 3
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1960
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.04
    •  
  • 4383 Rolando Blvd San Diego, CA 4
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1944
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.14
    •  
  • 5652 Campanile San Diego, CA 5
    • 4 beds 2 baths ∙ 1,462 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,462 Sqft ∙ Built 1963
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.05
    •  
PROPERTY LISTING DETAILS
Chad Trower
1.619.708.5792
Keller Williams La Jolla
BESbswy