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4918 Westminster Terrace San Diego, CA 92116

3 Beds 2 Baths 1,601 sqft Built 1933

$935,000

List Price

$3,890

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1933
  • Price/Sqft : $584.01
  • 6 Days on Market
  • MLS # : 210004672
  • Updated Date : 02/24/2021 at 00:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,601 sqft
  • Baths : 2 full
Listing Agent

Keller Williams La Jolla

Listing Agent's Description

Classic 1933 Spanish in north Kensington! This home is one of a few "fixer" opportunities that are left in the upscale neighborhood of Kensington. This is a diamond in the rough that features original hardwood floors, sunken formal living room, formal dining room, master en-suite bathroom and original wood beams in the living and dining rooms. The private backyard boasts a 200 sq ft detached bonus room that could be made into a separate living quarters. Don't miss this opportunity to live in one of the best tree lined neighborhoods in all of San Diego!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Kensington

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900kPrice in $233k990k

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

Neighborhood: Kensington

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16273695

* 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
Franklin Elementary School Primary Regular 287 8 4
Lewis Middle School Middle Regular 1,042 41 7
Henry High School High Regular 2,437 97 9

Franklin Elementary School

  • Education Level: Primary
  • # of students: 287
  • # of teachers: 8
4
GreatSchools Rating

Lewis Middle School

  • Education Level: Middle
  • # of students: 1,042
  • # of teachers: 41
7
GreatSchools Rating

Henry High School

  • Education Level: High
  • # of students: 2,437
  • # of teachers: 97
9
GreatSchools Rating
 

$841,500$1,028,500$935,000

PURCHASE PRICE

$3,501$4,279$3,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,890
EXPENSES Loan Payment -$3,248
Property Tax -$908
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$462

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.

$935,000

PROJECTED PRICE

$3,890

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.8%
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$3.0M

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$253,525

INVESTMENT

$253,525

Down Payment
$233,750
Rehab Estimate
$5,750
Closing Costs
$14,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,248

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $233,750
Loan Amount $701,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$37,921

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
  • $4,328

    COMP ESTIMATED VALUE
  • $2.7

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5003$3,9004$4,250
$4,250
RENT COMPS ANALYSIS
  • 4918 Westminster Terrace San Diego, CA 1
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1933 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1933
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4627 E Talmadge Dr San Diego, CA 2
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1947
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.67
    •  
  • 4209 Madison Ave San Diego, CA 3
    • 4 beds 3 baths ∙ 1,315 Sqft ∙ Built 1926 4 beds 3 baths ∙ 1,315 Sqft ∙ Built 1926
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.97
    •  
  • 4068 Hilldale Rd. San Diego, CA 4
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1929
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.47
    •  
PROPERTY LISTING DETAILS
Patrick Mercer
1.619.846.2083
Keller Williams La Jolla
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210004672
Last Updated: 02/24/2021
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