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5022 Mount Etna Drive San Diego, CA 92117

3 Beds 2 Baths 1,438 sqft Built 1958

$830,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $577.19
  • 23 Days on Market
  • MLS # : 210000649
  • Updated Date : 01/30/2021 at 16:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,438 sqft
  • Baths : 2 full
Listing Agent

Re/max Associates

Listing Agent's Description

A classic Mount Street home with open concept, beautiful laminate wood like flooring and crown molding through out. Large kitchen has newer dishwasher, range, wine rack, lots of cabinets and counters, recessed lights and breakfast bar. Enjoy the comforts of home with a warm fireplace in the living room w/ French doors to the private backyard with fiberglass pool & covered BBQ with bar. The furnace and ducting installed 8 years ago, water softener system, main sewer been lined with lifetime plastic pipe.

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MARKET HIGHLIGHTS

  • 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]
  • 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)

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
Marston Middle School Middle Regular 739 31 6
Clairemont High School High Regular 1,067 55 6
Marston Middle School Middle Unknown NA

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

Marston Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$747,000$913,000$830,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$2,883
Property Tax -$804
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
-$820

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.

$830,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.37%

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-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,700

INVESTMENT

$225,700

Down Payment
$207,500
Rehab Estimate
$5,750
Closing Costs
$12,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,883

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $207,500
Loan Amount $622,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,617

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
  • $3,347

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8503$3,1504$3,4005$3,750
$3,750
RENT COMPS ANALYSIS
  • 5022 Mount Etna Drive San Diego, CA 1
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5839 Birkdale Way San Diego, CA 2
    • 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1966
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.22
    •  
  • 4430 Donald Ave San Diego, CA 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1961
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.42
    •  
  • 4118 Mount Putman Ave San Diego, CA 4
    • 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1961
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.38
    •  
  • 4818 Royal Greens Pl San Diego, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Trisha Daly
1.858.848.5757
Re/max Associates
BESbswy