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4722 Highland Pl. La Mesa, CA 91942

3 Beds 2 Baths 1,448 sqft Built 1951

INVESTimate

$799,950

List Price

$2,820

$2,570 - $3,070

Rent Est.

$854,987  ( +6.88%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1951
  • Price/Sqft : $552.45
  • 6 Days on Market
  • MLS # : 200040619
  • Updated Date : 08/22/2020 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,448 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Sd Metro

Listing Agent's Description

Secret hidden La Mesa neighborhood within ez walking distance to shopping and village! This gem property at the end of a quiet tree lined street is 3/2 with cute breakfast bar/stainless steel appliances and finishes, remodeled baths, multi-level patios with panoramic views from LR,DR and veranda. Relax outdoors under a shaded pergola or dine alfresco poolside. Go for a refreshing swim during the day and relax in the hot tub at night. Includes Central AC/Heat, hardwood floors and loads of natural light.

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: 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
Rolando Elementary School Primary Regular 561 18 4
La Mesa Middle School Middle Regular 950 34 7
Mount Miguel High School High Regular 1,483 68 4

Rolando Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 18
4
GreatSchools Rating

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
 

$719,955$879,945$799,950

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

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$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,951
Property Tax -$824
Property Insurance -$64
Property Management Fees -$129
CASH FLOW
-$1,148

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.

$799,950

PROJECTED PRICE

$2,820

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.88%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,737

INVESTMENT

$217,737

Down Payment
$199,988
Rehab Estimate
$5,750
Closing Costs
$11,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,951

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,988
Loan Amount $599,963
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $3,218

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,7503$2,7954$2,8205$2,950
$2,950
RENT COMPS ANALYSIS
  • 4722 Highland Pl. La Mesa, 4
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.95
    •  
  • 7170 Hybeth Drive La Mesa, 1
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1953
    LEASED 05/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.20
    •  
  • 8126 Fairview Ave. La Mesa, 2
    • 3 beds 2 baths ∙ 1,194 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,194 Sqft ∙ Built 1969
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.30
    •  
  • 8950 Linden La Mesa, 3
    • 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1950
    LEASED 03/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.25
    •  
  • 4383 Rolando Blvd San Diego, 5
    • 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
    •  
PROPERTY LISTING DETAILS
Robert Fields
1.619.417.7479
Keller Williams Sd Metro
BESbswy