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4850 Mount Hay Dr San Diego, CA 92117

5 Beds 2 Baths 1,949 sqft Built 1959

$890,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $456.64
  • 5 Days on Market
  • MLS # : 200053074
  • Updated Date : 12/03/2020 at 03:57
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,949 sqft
  • Baths : 2 full
Listing Agent

Re/max Associates

Listing Agent's Description

Stunning Mount Street home with so many upgrades we have attached the seller's upgraded list. This home lives large offering an elegant entertaining open concept kitchen, family room, dining and living room. This 5 Bedroom home has been thought out for easy living. The entry and kitchen tile is herringbone pattern, 5 burner gas cooktop and separate wine fridge & bar. Extensive cabinetry and custom pendant lighting hovers over 2 sit up breakfast/dining bars comfortable for 10 guests. See supplement.

SEE MORE

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: Clairemont Mesa West

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $233k746k

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

Neighborhood: Clairemont Mesa West

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16113384

* 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
Holmes Elementary School Primary Regular 522 19 10
Marston Middle School Middle Regular 739 31 6
Clairemont High School High Regular 1,067 55 6

Holmes Elementary School

  • Education Level: Primary
  • # of students: 522
  • # of teachers: 19
10
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
 

$801,000$979,000$890,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$3,284
Property Tax -$862
Property Insurance -$76
Property Management Fees -$129
CASH FLOW
-$441

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.

$890,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.5%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$241,600

INVESTMENT

$241,600

Down Payment
$222,500
Rehab Estimate
$5,750
Closing Costs
$13,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$3,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $222,500
Loan Amount $667,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$46,520

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
  • $4,184

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,7503$3,8954$3,950
$3,950
RENT COMPS ANALYSIS
  • 4850 Mount Hay Dr San Diego, CA 1
    • 5 beds 2 baths ∙ 1,949 Sqft ∙ Built 1959 5 beds 2 baths ∙ 1,949 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4818 Royal Greens Pl San Diego, CA 2
    • 4 beds 3 baths ∙ 1,638 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,638 Sqft ∙ Built 1978
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.29
    •  
  • 3220 Wheat Street San Diego, CA 3
    • 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1965
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $1.93
    •  
  • 5002 Mount Harris Dr San Diego, CA 4
    • 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 1958
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.22
    •  
PROPERTY LISTING DETAILS
Trisha Daly
1.858.848.5757
Re/max Associates
BESbswy