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5267 Castle Hills Drive San Diego, CA 92109

3 Beds 3 Baths 2,004 sqft Built 1962

$1,598,000

List Price

$4,670

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1962
  • Price/Sqft : $797.41
  • 9 Days on Market
  • MLS # : 200049850
  • Updated Date : 11/03/2020 at 00:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,004 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Nestled in a park-like setting in a highly desirable North Pacific Beach locale, this one-of-a-kind, Mid-Century Modern home offers 3 bedrooms, 2.5 baths plus a loft area/optional 4th BR, breathtaking beamed ceilings, cork & colored concrete flooring, and a dramatic wall of windows bringing the outdoors in. Upon entry you will find a large, light-infused living room and a catwalk leading to 2BR/2BA including the master suite featuring his-and-hers closets, clerestory windows & a beautifully updated bath…

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pacific Beach

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $233k866k

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

Neighborhood: Pacific Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $16274083

* 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
Pacific Beach Elementary School Primary Regular 418 15 7
Pacific Beach Middle School Middle Regular 581 26 6
Mission Bay High School High Magnet 1,101 54 7

Pacific Beach Elementary School

  • Education Level: Primary
  • # of students: 418
  • # of teachers: 15
7
GreatSchools Rating

Pacific Beach Middle School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 26
6
GreatSchools Rating

Mission Bay High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 54
7
GreatSchools Rating
 

$1,438,200$1,757,800$1,598,000

PURCHASE PRICE

$4,203$5,137$4,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,670
EXPENSES Loan Payment -$5,896
Property Tax -$1,552
Property Insurance -$78
Property Management Fees -$129
CASH FLOW
-$2,985

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.

$1,598,000

PROJECTED PRICE

$4,670

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.1%
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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$50k-$40k-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$429,220

INVESTMENT

$429,220

Down Payment
$399,500
Rehab Estimate
$5,750
Closing Costs
$23,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$5,896

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $399,500
Loan Amount $1,198,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,670

    LIST RENT
  • $2.33

    LIST RENT PER SQFT
  • $4,870

    COMP ESTIMATED VALUE
  • $2.43

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,6703$4,6954$4,8005$5,200
$5,200
RENT COMPS ANALYSIS
  • 5267 Castle Hills Drive San Diego, CA 2
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 1962 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $4,670
    • $2.33
    •  
  • 1730 Los Altos Way San Diego, CA 1
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1962
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.31
    •  
  • 5610 Calle Miramar La Jolla, CA 3
    • 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 1978
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,695
    • $2.28
    •  
  • 971 Skylark Dr. La Jolla, CA 4
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1960
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.49
    •  
  • 1326 Loring St San Diego, CA 5
    • 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 1959
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,200
    • $2.64
    •  
PROPERTY LISTING DETAILS
Maxine Gellens
1.858.551.6630
Berkshire Hathaway Homeservice
BESbswy