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518 Black Coral Way San Diego, CA 92154

5 Beds 3 Baths 2,318 sqft Built 2002

$649,000

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $279.98
  • 4 Days on Market
  • MLS # : 200052157
  • Updated Date : 11/20/2020 at 00:14
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,318 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Carmel Valley

Listing Agent's Description

WOW! Fantastic opportunity to own this amazing family home. Views from front and back - enjoy the amazing sunrise and sunset. FULL BEDROOM and bath on first floor makes this perfect for guest. Home has significant upgrades and updates throughout. The upstairs loft is perfect for an additional office or school area. Kitchen is large and uses the highly desired open floorplan - enjoy cooking and entertaining all at the same time. Newer H2O heater, stove, microwave, central air added, new heat unit

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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: Ocean Crest

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $223k626k

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

Neighborhood: Ocean Crest

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $15142982

* 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
Juarez-lincoln Elementary School Primary Regular 566 25 6
Juarez-lincoln Elementary School Middle Regular 566 25 6
Montgomery High School High Regular 1,723 63 4

Juarez-lincoln Elementary School

  • Education Level: Primary
  • # of students: 566
  • # of teachers: 25
6
GreatSchools Rating

Juarez-lincoln Elementary School

  • Education Level: Middle
  • # of students: 566
  • # of teachers: 25
6
GreatSchools Rating

Montgomery High School

  • Education Level: High
  • # of students: 1,723
  • # of teachers: 63
4
GreatSchools Rating
 

$584,100$713,900$649,000

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$2,395
Property Tax -$752
Property Insurance -$85
HOA -$48
Property Management Fees -$129
CASH FLOW
$51

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.

$649,000

PROJECTED PRICE

$3,460

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.4%
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$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

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$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$77,571

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,460

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $3,724

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4003$3,4604$4,195
$4,195
RENT COMPS ANALYSIS
  • 518 Black Coral Way San Diego, CA 3
    • 5 beds 3 baths ∙ 2,318 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,318 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $1.49
    •  
  • 1207 Paseo Seashore #77 San Diego, CA 1
    • 4 beds 4 baths ∙ 2,034 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,034 Sqft ∙ Built 2017
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.57
    •  
  • 5178 Westport View Dr San Diego, CA 2
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.57
    •  
  • 951 Camino Levante Chula Vista, CA 4
    • 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 2018
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,195
    • $1.68
    •  
PROPERTY LISTING DETAILS
David Rudd
1.858.999.7702
Keller Williams Carmel Valley
BESbswy