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4680 Normandie Pl La Mesa, CA 91942

3 Beds 2 Baths 1,910 sqft Built 1959

$699,000

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $365.97
  • 3 Days on Market
  • MLS # : 210003876
  • Updated Date : 02/13/2021 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,910 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker West

Listing Agent's Description

WOW! Heres your chance to own a single level 3 bedroom + huge bonus room/ family room that can be used as home office, added bedroom, or possibly made into a JR ADU with its side yard access for a separate entry option. Top-notch school district in wonderful La Mesa. 2 fireplaces, bright & open, expansive interior enhanced by an open kitchen/dining area will make entertaining a breeze. VERY large private back yard and covered patio & attached 2-car garage!

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: La Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $210k594k

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

Neighborhood: La Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14702885

* 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
La Mesa Middle School Middle Regular 950 34 7
Mount Miguel High School High Regular 1,483 68 4
Mount Miguel High School High Unknown NA

La Mesa Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 34
7
GreatSchools Rating

Mount Miguel High School

  • Education Level: High
  • # of students: 1,483
  • # of teachers: 68
4
GreatSchools Rating

Mount Miguel High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$2,428
Property Tax -$720
Property Insurance -$75
Property Management Fees -$129
CASH FLOW
-$512

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.

$699,000

PROJECTED PRICE

$2,840

PROJECTED RENT

0.41%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$17,892

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
  • $3,113

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9953$3,200
$3,200
RENT COMPS ANALYSIS
  • 4680 Normandie Pl La Mesa, CA 1
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6620 Reservoir Ln #c San Diego, CA 2
    • 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 1979
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.60
    •  
  • 5363 West Falls View Drive San Diego, CA 3
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1952
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.66
    •  
PROPERTY LISTING DETAILS
Jeannine Savory
1.619.800.0289
Coldwell Banker West
BESbswy