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5231 Augustana Pl San Diego, CA 92115

4 Beds 3 Baths 1,796 sqft Built 1965

INVESTimate

$799,000

List Price

$3,540

$3,290 - $3,790

Rent Est.

$853,811  ( +6.86%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $444.88
  • 8 Days on Market
  • MLS # : 200040056
  • Updated Date : 08/25/2020 at 20:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,796 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Gorgeous cul-de-sac home located on a canyon lot in the highly desirable and quiet Mid-City/Talmadge neighborhood! This turn-key home features great curb appeal with tropical landscaping, a spacious floorplan, custom paint scheme, recessed lighting, beautiful laminate wood flooring, and modern touches throughout! The kitchen features refurbished cabinetry, tile countertops, and backsplash, bar seating, stainless steel appliances, and opens to the dining area. Owned solar panels will be paid off at close.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

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
 

$719,100$878,900$799,000

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

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-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$2,948
Property Tax -$776
Property Insurance -$72
Property Management Fees -$129
CASH FLOW
-$385

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.

$799,000

PROJECTED PRICE

$3,540

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.86%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$45,714

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
  • $2,865

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9953$3,100
$3,100
RENT COMPS ANALYSIS
  • 5231 Augustana Pl San Diego, 1
    • 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5363 West Falls View Drive San Diego, 2
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1952
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.53
    •  
  • 6671 Reservoir Lane San Diego, 3
    • 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 1979
    LEASED 04/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.66
    •  
PROPERTY LISTING DETAILS
Katie Gilbert
1.858.228.6021
Redfin Corporation
BESbswy