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5159 Bixel Dr San Diego, CA 92115

4 Beds 3 Baths 1,976 sqft Built 1959

$899,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $454.96
  • 8 Days on Market
  • MLS # : 210007613
  • Updated Date : 03/27/2021 at 00:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,976 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker West

Listing Agent's Description

This beautiful mid century split level home has gorgeous canyon views and a fabulous private backyard with many different areas for outdoor dining, entertaining and relaxing. Home flows very nicely indoors and out. Spacious master bedroom suite opens up to its own large, private patio and outdoor spa. Lots and lots of storage and closet space throughout! The large living room has a rock fireplace and lovely views of the gardens and canyon. Newly painted inside and out, upgrades include new AC system in 2020, and hot water heater in 2020, dual pane windows, updated kitchen with quartz counters, updated bathrooms, and new driveway pavers in 2017. The custom detached 8'x12' gardener's shed/workshop/artist studio suggests the perfect spot for an ADU or guest cottage. The 4th bedroom would also make an excellent office, in law suite, or family room and has a 1/2 bath, private entrance and private outdoor space .

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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: College West

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650kPrice in $223k661k

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

Neighborhood: College West

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800300032003400Rent in $15143408

* 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
Hardy Elementary School Primary Regular 408 15 9
Lewis Middle School Middle Regular 1,042 41 7
Henry High School High Regular 2,437 97 9

Hardy Elementary School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 15
9
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
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$3,123
Property Tax -$873
Property Insurance -$77
Property Management Fees -$129
CASH FLOW
-$1,072

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.

$899,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.35%

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$4,307

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
  • $3,468

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1003$3,2004$3,5005$4,200
$4,200
RENT COMPS ANALYSIS
  • 5159 Bixel Dr San Diego, CA 1
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5673 Barclay Ave San Diego, CA 2
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1957
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.80
    •  
  • 5363 West Falls View Drive San Diego, CA 3
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1952
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.66
    •  
  • 5650 Genoa Dr San Diego, CA 4
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1961 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1961
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.72
    •  
  • 5285 College Gardens Court San Diego, CA 5
    • 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 1963
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.84
    •  
PROPERTY LISTING DETAILS
Bruce Bielaski
1.619.252.1268
Coldwell Banker West
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210007613
Last Updated: 03/27/2021
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