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4689 Edison St San Diego, CA 92117

3 Beds 3 Baths 2,180 sqft Built 1979

INVESTimate

$935,000

List Price

$3,760

$3,510 - $4,010

Rent Est.

$1,005,125  ( +7.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $428.90
  • 7 Days on Market
  • MLS # : 200040250
  • Updated Date : 08/21/2020 at 15:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,180 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Lajolla

Listing Agent's Description

Bay Park! You’ll love this remodel on a lush canyon in the quiet "Bay Canyon" community! You’ll enjoy verdant green canyon views and some bay view. Private MBR penthouse suite has view, walk-in closet, redone bath. This home boasts quality upgrades like Quartz countertops, distressed rich wood floors, vessel sinks, more. Expanded bedrooms & big closet under stairs. Two minutes to Mission Bay, I-5, & the coming Clairemont Dr trolley station. Low $126 HOA fees.

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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: 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
Toler Elementary School Primary Regular 249 10 7
Marston Middle School Middle Regular 739 31 6
Clairemont High School High Regular 1,067 55 6

Toler Elementary School

  • Education Level: Primary
  • # of students: 249
  • # of teachers: 10
7
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
 

$841,500$1,028,500$935,000

PURCHASE PRICE

$3,384$4,136$3,760

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$3.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,760
EXPENSES Loan Payment -$3,450
Property Tax -$908
Property Insurance -$82
HOA -$126
Property Management Fees -$129
CASH FLOW
-$935

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.

$935,000

PROJECTED PRICE

$3,760

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.50%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$253,525

INVESTMENT

$253,525

Down Payment
$233,750
Rehab Estimate
$5,750
Closing Costs
$14,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,450

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $233,750
Loan Amount $701,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$13,727

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
  • $3,880

    COMP ESTIMATED VALUE
  • $1.78

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2003$3,5004$4,000
$4,000
RENT COMPS ANALYSIS
  • 4689 Edison St San Diego, 1
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4164 Balboa Way San Diego, 2
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1967 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1967
    property image
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.67
    •  
  • 3455 Old Meadow Rd San Diego, 3
    • 4 beds 3 baths ∙ 2,066 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,066 Sqft ∙ Built 1984
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.69
    •  
  • 3772 Vista De La Bahia San Diego, 4
    • 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1968
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.98
    •  
PROPERTY LISTING DETAILS
Gary Kent
1.858.457.5368
Keller Williams Realty Lajolla
BESbswy