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530 Otsego Dr San Diego, CA 92103

2 Beds 3 Baths 2,031 sqft Built 2009

$1,295,000

List Price

$4,290

$4K - $4.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $637.62
  • 2 Days on Market
  • MLS # : 210019506
  • Updated Date : 07/13/2021 at 08:22
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,031 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Dramatically designed urban retreat exemplifies contemporary, carefree living. Modern floor plan includes open living areas with walls of windows and treetop outlooks. Designer kitchen with retractable glass doors opens to al fresco dining patio. First level features two-car garage with storage, home theater, laundry room and elevator access to multiple levels. Top floor primary bedroom enjoys adjacent office or lounge area which opens to deck. Convenient location with nearby restaurants, bakeries, coffee shops and grocery stores.

SEE MORE

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: Mission Hills

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $233k1077k

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

Neighborhood: Mission Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $16274202

* 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
Florence Elementary School Primary Regular 262 11 8
Roosevelt International Middle School Middle Magnet 961 48 4
San Diego High School High Unknown NA

Florence Elementary School

  • Education Level: Primary
  • # of students: 262
  • # of teachers: 11
8
GreatSchools Rating

Roosevelt International Middle School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 48
4
GreatSchools Rating

San Diego High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$1,165,500$1,424,500$1,295,000

PURCHASE PRICE

$3,861$4,719$4,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,290
EXPENSES Loan Payment -$4,498
Property Tax -$1,258
Property Insurance -$78
Property Management Fees -$129
CASH FLOW
-$1,673

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.

$1,295,000

PROJECTED PRICE

$4,290

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 4.3%
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$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$348,925

INVESTMENT

$348,925

Down Payment
$323,750
Rehab Estimate
$5,750
Closing Costs
$19,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,498

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $323,750
Loan Amount $971,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$2,219

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
  • $4,879

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,4003$4,5004$4,7505$4,995
$4,995
RENT COMPS ANALYSIS
  • 530 Otsego Dr San Diego, CA 1
    • 2 beds 3 baths ∙ 2,031 Sqft ∙ Built 2009 2 beds 3 baths ∙ 2,031 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4079 1st Ave #3 San Diego, CA 2
    • 2 beds 3 baths ∙ 1,836 Sqft ∙ Built 2020 2 beds 3 baths ∙ 1,836 Sqft ∙ Built 2020
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.40
    •  
  • 1285 Pacific Highway #102 San Diego, CA 3
    • 2 beds 3 baths ∙ 1,956 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,956 Sqft ∙ Built 2006
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.30
    •  
  • 2710 1st Ave San Diego, CA 4
    • 2 beds 3 baths ∙ 2,104 Sqft ∙ Built 2007 2 beds 3 baths ∙ 2,104 Sqft ∙ Built 2007
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.26
    •  
  • 3539 3rd Avenue San Diego, CA 5
    • 2 beds 3 baths ∙ 1,883 Sqft ∙ Built 2018 2 beds 3 baths ∙ 1,883 Sqft ∙ Built 2018
    property image
    LEASED 03/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $2.65
    •  
PROPERTY LISTING DETAILS
Janna Hernholm
1.619.299.4272
Pacific Sotheby's Int'l Realty
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210019506
Last Updated: 07/13/2021
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