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4950 Date St San Diego, CA 92102

2 Beds 1 Baths 1,184 sqft Built 1953

$579,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $489.02
  • 3 Days on Market
  • MLS # : 200053317
  • Updated Date : 12/05/2020 at 02:28
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,184 sqft
  • Baths : 1 full
Listing Agent

Genstone Inc.

Listing Agent's Description

Don't miss the opportunity to own this cute starter home, centrally located on a quiet street just minutes from downtown San Diego.  Tax roll shows 2BD, but large extra room is used as master, making this a 3BD/1BA.  Enjoy beautiful original hardwood floors, and a large backyard, complete with garden and new deck, perfect for entertaining!  Current owners have tastefully remodeled the kitchen, and made numerous improvements, including newer windows, water heater, furnace, insulation, etc.  Will not last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Webster

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $181k621k

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

Neighborhood: Webster

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542982

* 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
Webster Elementary School Primary Magnet 329 12 4
Webster Elementary School Middle Magnet 329 12 4
Lincoln High School High Regular 1,516 72 3

Webster Elementary School

  • Education Level: Primary
  • # of students: 329
  • # of teachers: 12
4
GreatSchools Rating

Webster Elementary School

  • Education Level: Middle
  • # of students: 329
  • # of teachers: 12
4
GreatSchools Rating

Lincoln High School

  • Education Level: High
  • # of students: 1,516
  • # of teachers: 72
3
GreatSchools Rating
 

$521,100$636,900$579,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$2,136
Property Tax -$562
Property Insurance -$57
Property Management Fees -$129
CASH FLOW
-$565

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$579,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 11.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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

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$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,570

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
  • $2,356

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9003$2,000
$2,000
RENT COMPS ANALYSIS
  • 4950 Date St San Diego, CA 1
    • 2 beds 1 baths ∙ 1,184 Sqft ∙ Built 1953 2 beds 1 baths ∙ 1,184 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 548 West Street San Diego, CA 2
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1950 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1950
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.90
    •  
  • 3669 Kalmia St San Diego, CA 3
    • 2 beds 1 baths ∙ 960 Sqft ∙ Built 1942 2 beds 1 baths ∙ 960 Sqft ∙ Built 1942
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $2.08
    •  
PROPERTY LISTING DETAILS
Jesse Mendez
1.858.335.4825
Genstone Inc.
BESbswy