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5255 Fontaine St San Diego, CA 92120

4 Beds 2 Baths 1,506 sqft Built 1964

$780,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $517.93
  • 3 Days on Market
  • MLS # : 210001281
  • Updated Date : 01/16/2021 at 02:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,506 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Fully remodeled home with great curb appeal! This 4 bedroom, 2 bath home sits on a 9,000+ Sq Ft lot with fully landscaped front yard, and farm like backyard, complete with fruit trees, grape vineyard, and chickens. Chickens provide fresh eggs and can convey. The seller actually makes his own wine! The kitchen is a show stopper featuring updated high-end (monogram) appliances, farm style sink, plenty of counter space, and looks out to the large dining area. Great for a cook!

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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: Allied Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $221k621k

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

Neighborhood: Allied Gardens

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14572982

* 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
Foster Elementary School Primary Regular 367 15 7
Lewis Middle School Middle Regular 1,042 41 7
Henry High School High Regular 2,437 97 9

Foster Elementary School

  • Education Level: Primary
  • # of students: 367
  • # of teachers: 15
7
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
 

$702,000$858,000$780,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$2,709
Property Tax -$758
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$691

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.

$780,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.6%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,709

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$13,001

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $2,952

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,9503$2,9704$3,5005$3,675
$3,675
RENT COMPS ANALYSIS
  • 5255 Fontaine St San Diego, CA 3
    • 4 beds 2 baths ∙ 1,506 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,506 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $1.97
    •  
  • 10969 Clairemont Mesa Blvd San Diego, CA 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1977
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.90
    •  
  • 5621 Charter Ave San Diego, CA 2
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1956
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.97
    •  
  • 4575 La Cuenta Dr San Diego, CA 4
    • 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
    •  
  • 5586 Hamill Ave San Diego, CA 5
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1956
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,675
    • $2.04
    •  
PROPERTY LISTING DETAILS
Charles Wheeler
1.267.242.7565
Redfin Corporation
BESbswy