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5251 Camino Playa Malaga San Diego, CA 92124

3 Beds 3 Baths 1,553 sqft Built 1990

$789,999

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $508.69
  • 13 Days on Market
  • MLS # : 210000169
  • Updated Date : 01/16/2021 at 18:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,553 sqft
  • Baths : 2 full , 1 half
Listing Agent

Reef Point Realty, Inc

Listing Agent's Description

Enjoy the serene setting you've always dreamed of in this stunning home within the coveted Tierrasanta Norte community. This well-appointed home features over $100k in upgrades including gorgeous, engineered wood & travertine flooring, dual pane windows, plantation shutters & surround sound in the living room. The gourmet kitchen includes stainless steel appliances, newer cabinetry, granite counters & has access to the beautifully manicured, oasis style yard ideal for year-round entertaining.

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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: Tierrasanta

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $233k746k

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

Neighborhood: Tierrasanta

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16273384

* 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
Kumeyaay Elementary School Primary Regular 472 17 9
De Portola Middle School Middle Regular 969 40 7
Serra High School High Regular 1,796 71 7

Kumeyaay Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 17
9
GreatSchools Rating

De Portola Middle School

  • Education Level: Middle
  • # of students: 969
  • # of teachers: 40
7
GreatSchools Rating

Serra High School

  • Education Level: High
  • # of students: 1,796
  • # of teachers: 71
7
GreatSchools Rating
 

$710,999$868,999$789,999

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$2,744
Property Tax -$767
Property Insurance -$66
HOA -$64
Property Management Fees -$129
CASH FLOW
-$731

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.

$789,999

PROJECTED PRICE

$3,040

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 4.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$215,100

INVESTMENT

$215,100

Down Payment
$197,500
Rehab Estimate
$5,750
Closing Costs
$11,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,744

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,500
Loan Amount $592,499
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $2,997

    COMP ESTIMATED VALUE
  • $1.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0403$3,500
$3,500
RENT COMPS ANALYSIS
  • 5251 Camino Playa Malaga San Diego, CA 2
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $1.96
    •  
  • 11236 Portobelo Drive San Diego, CA 1
    • 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 1991
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.93
    •  
  • 4575 La Cuenta Dr San Diego, CA 3
    • 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 1978
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.93
    •  
PROPERTY LISTING DETAILS
John Reeves
1.858.746.9214
Reef Point Realty, Inc
BESbswy