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4868 Benton Way La Mesa, CA 91942

3 Beds 2 Baths 1,651 sqft Built 1948

INVESTimate

$659,900

List Price

$3,280

$3,030 - $3,530

Rent Est.

$705,301  ( +6.88%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1948
  • Price/Sqft : $399.70
  • 4 Days on Market
  • MLS # : 200040887
  • Updated Date : 08/26/2020 at 00:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,651 sqft
  • Baths : 2 full
Listing Agent

Woods Real Estate Services Inc

Listing Agent's Description

It's like walking into paradise!Traditional single level home that has almost everything. Recently updated and upgraded this home features solar panels for 100% independence, newer central heat & A/C, tankless w/h, Recessed lighting throughout, Klipsch in wall surround sound, low maintenance yard with newer a irrigation system in front and back.Home also includes a 250+ esf room attached to the garage/yard which can be used as another bedroom, mancave or what ever one can think up. Must See Supplement

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
 

$593,910$725,890$659,900

PURCHASE PRICE

$2,952$3,608$3,280

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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

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 $3,280
EXPENSES Loan Payment -$2,435
Property Tax -$680
Property Insurance -$69
Property Management Fees -$129
CASH FLOW
-$32

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.

$659,900

PROJECTED PRICE

$3,280

PROJECTED RENT

0.50%

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$180,624

INVESTMENT

$180,624

Down Payment
$164,975
Rehab Estimate
$5,750
Closing Costs
$9,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $164,975
Loan Amount $494,925
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$69,819

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
  • $3,506

    COMP ESTIMATED VALUE
  • $2.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9503$3,0004$3,140
$3,140
RENT COMPS ANALYSIS
  • 4868 Benton Way La Mesa, 1
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4383 Rolando Blvd San Diego, 2
    • 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
    •  
  • 4009 Aragon Dr San Diego, 3
    • 4 beds 2 baths ∙ 1,648 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,648 Sqft ∙ Built 1955
    LEASED 03/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.82
    •  
  • 4629 Mataro Dr San Diego, 4
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1951
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $2.41
    •  
PROPERTY LISTING DETAILS
Michael Nelson
1.619.368.3124
Woods Real Estate Services Inc
BESbswy