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494 Arroyo Seco Dr San Diego, CA 92114

3 Beds 2 Baths 1,635 sqft Built 1994

$619,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $378.59
  • 5 Days on Market
  • MLS # : 200052561
  • Updated Date : 11/26/2020 at 01:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,635 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Sd Metro

Listing Agent's Description

***599,000 - 619,000*** Charming single story 3 bedroom 2 bath home with a huge backyard. Open layout with fireplace in the living room perfect for entertaining. Updated kitchen with SS appliances, quartz countertops w/ backsplash. Spacious covered patio with plenty of room for outdoor enjoyment. Huge lot with no neighbors in the back. Virtual Tour Here: https://bit.ly/33gocpo

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: Bay Terraces

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $186k621k

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

Neighborhood: Bay Terraces

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13602982

* 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
Fulton Elementary School Primary Regular 418 18 3
Bell Middle School Middle Regular 912 44 3
Morse High School High Regular 1,808 83 5

Fulton Elementary School

  • Education Level: Primary
  • # of students: 418
  • # of teachers: 18
3
GreatSchools Rating

Bell Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 44
3
GreatSchools Rating

Morse High School

  • Education Level: High
  • # of students: 1,808
  • # of teachers: 83
5
GreatSchools Rating
 

$557,100$680,900$619,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$2,284
Property Tax -$601
Property Insurance -$68
Property Management Fees -$129
CASH FLOW
-$523

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.

$619,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,785

INVESTMENT

$169,785

Down Payment
$154,750
Rehab Estimate
$5,750
Closing Costs
$9,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $154,750
Loan Amount $464,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$16,887

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
  • $2,735

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,6504$2,7005$2,795
$2,795
RENT COMPS ANALYSIS
  • 494 Arroyo Seco Dr San Diego, CA 1
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 425 S Meadowbrook Dr #122 San Diego, CA 2
    • 3 beds 3 baths ∙ 1,452 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,452 Sqft ∙ Built 2007
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.72
    •  
  • 1325 Manzana Way San Diego, CA 3
    • 4 beds 3 baths ∙ 1,701 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,701 Sqft ∙ Built 1986
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.56
    •  
  • 2408 Manzana Way San Diego, CA 4
    • 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1986
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.70
    •  
  • 7508 Easthill Dr San Diego, CA 5
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.71
    •  
PROPERTY LISTING DETAILS
Jezer Manalastas
1.619.313.1224
Keller Williams Sd Metro
BESbswy