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5135 Randlett Drive La Mesa, CA 91942

3 Beds 1 Baths 960 sqft Built 1942

$625,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1942
  • Price/Sqft : $651.04
  • 3 Days on Market
  • MLS # : 200053341
  • Updated Date : 12/05/2020 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 960 sqft
  • Baths : 1 full
Listing Agent

Coronado Shores Company

Listing Agent's Description

Charming 1942 Bungalow situated on a quiet cul de sac in the charming Porter Hill neighborhood of La Mesa a stones throw from the shopping, restaurants and bars of downtown La Mesa. This beautiful home features a spacious recently landscaped yard with fire pit perfect for entertaining or an ideal setting for an outdoor home gym. Yard has synthetic turf and rotating sprinkler heads. Interior boasts the original hardwood floors, recently upgraded stainless steel appliances, and central AC.

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: 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
Lemon Avenue Elementary School Primary Regular 656 22 6
La Mesa Middle School Middle Regular 950 34 7
Grossmont High School High Regular 2,394 92 7

Lemon Avenue Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 22
6
GreatSchools Rating

La Mesa Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 34
7
GreatSchools Rating

Grossmont High School

  • Education Level: High
  • # of students: 2,394
  • # of teachers: 92
7
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$2,306
Property Tax -$644
Property Insurance -$51
Property Management Fees -$129
CASH FLOW
-$1,100

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.

$625,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.9%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$74

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
  • $2,227

    COMP ESTIMATED VALUE
  • $2.32

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3003$2,5004$3,000
$3,000
RENT COMPS ANALYSIS
  • 5135 Randlett Drive La Mesa, CA 1
    • 3 beds 1 baths ∙ 960 Sqft ∙ Built 1942 3 beds 1 baths ∙ 960 Sqft ∙ Built 1942
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3418 Fairway Dr La Mesa, CA 2
    • 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1952
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.28
    •  
  • 6230 Lake Ariana Ave San Diego, CA 3
    • 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1959
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.28
    •  
  • 7685 Torrem St La Mesa, CA 4
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1960
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.40
    •  
PROPERTY LISTING DETAILS
Ryan Koubeserian
1.619.339.9736
Coronado Shores Company
BESbswy