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4837 34th Street San Diego, CA 92116

2 Beds 1 Baths 742 sqft Built 1925

$599,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1925
  • Price/Sqft : $807.28
  • 3 Days on Market
  • MLS # : 210001905
  • Updated Date : 01/23/2021 at 00:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 742 sqft
  • Baths : 1 full
Listing Agent

Williams Taylor Real Estate

Listing Agent's Description

Wonderful location in one of the trendiest areas of San Diego. Quiet tree-lined street in Normal Heights north of Adams Ave with single family homes and pride of ownership. Cute vintage house needs lots of TLC. Large lot with alley access and development possibilities. Don't miss this opportunity!

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: Adams North

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $230k746k

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

Neighborhood: Adams North

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16083384

* 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
Adams Elementary School Primary Regular 329 13 4
Wilson Middle School Middle Regular 621 30 3
Hoover High School High Regular 2,019 97 4

Adams Elementary School

  • Education Level: Primary
  • # of students: 329
  • # of teachers: 13
4
GreatSchools Rating

Wilson Middle School

  • Education Level: Middle
  • # of students: 621
  • # of teachers: 30
3
GreatSchools Rating

Hoover High School

  • Education Level: High
  • # of students: 2,019
  • # of teachers: 97
4
GreatSchools Rating
 

$539,100$658,900$599,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$2,081
Property Tax -$582
Property Insurance -$46
Property Management Fees -$129
CASH FLOW
-$707

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.

$599,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,670

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
  • $1,896

    COMP ESTIMATED VALUE
  • $2.55

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,495
$2,495
RENT COMPS ANALYSIS
  • 4837 34th Street San Diego, CA 1
    • 2 beds 1 baths ∙ 742 Sqft ∙ Built 1925 2 beds 1 baths ∙ 742 Sqft ∙ Built 1925
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3465 Wightman St San Diego, CA 2
    • 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944 2 beds 1 baths ∙ 872 Sqft ∙ Built 1944
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.58
    •  
  • 4616 Cherokee Ave San Diego, CA 3
    • 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939 2 beds 1 baths ∙ 985 Sqft ∙ Built 1939
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $2.53
    •  
PROPERTY LISTING DETAILS
Emma Williams
1.858.232.2967
Williams Taylor Real Estate
BESbswy