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PROPERTY INFO
FACTS
- Single Family
- Built In 1940
- Price/Sqft : $593.92
- 7 Days on Market
- MLS # : 200051818
- Updated Date : 11/17/2020 at 15:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,480 sqft
- Baths : 2 full
Listing Agent
Dupre Real Estate
Listing Agent's Description
3 bedrooms, 2 bath Spanish style home in the heart of University Heights. This home features an open floorplan with lots of natural light, tankless water heater, hardwood floors, central heat and air conditioning, double pane windows with custom blinds (2016), ELFA closet systems, new bathroom remodel and stainless steel appliances. Roof and HVAC were replaced in 2010. The open concept kitchen makes it perfect for entertaining. Spacious living room and separate family room leads out to the large backyard.
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: North Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $3,210 |
EXPENSES | Loan Payment | -$3,243 |
Property Tax | -$854 | |
Property Insurance | -$64 | |
Property Management Fees | -$129 | |
CASH FLOW
-$1,080
|
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.
$879,000
PROJECTED PRICE
$3,210
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 4.42% |
Appreciation Year (1-5) | 7.5% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 4.80% |
Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$238,685
LOAN DETAILS
$3,243
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $219,750 |
Loan Amount | $659,250 |
1.33
YEARS SAVED
$6,089
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
-
$3,041
COMP ESTIMATED VALUE -
$2.05
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
1.858.255.1682
Dupre Real Estate