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537 Prairie Mound Ct San Diego, CA 92139

3 Beds 2 Baths 1,519 sqft Built 1965

$584,999

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $385.12
  • 5 Days on Market
  • MLS # : 210003617
  • Updated Date : 02/11/2021 at 03:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,519 sqft
  • Baths : 2 full
Listing Agent

Active Realty

Listing Agent's Description

Situated in a cul-de-sac, this 3 bedroom, 2 bath home offers an open living space, fireplace and underground olympic size pool. Your backyard offers unobstructed views of San Diego’s mountain range and tons of potential.

SEE MORE

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: Bay Terraces

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $186k621k

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

Neighborhood: Bay Terraces

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13602982

* 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
Boone Elementary School Primary Regular 523 22 4
Bell Middle School Middle Regular 912 44 3
Morse High School High Regular 1,808 83 5

Boone Elementary School

  • Education Level: Primary
  • # of students: 523
  • # of teachers: 22
4
GreatSchools Rating

Bell Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 44
3
GreatSchools Rating

Morse High School

  • Education Level: High
  • # of students: 1,808
  • # of teachers: 83
5
GreatSchools Rating
 

$526,499$643,499$584,999

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$2,032
Property Tax -$569
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$475

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.

$584,999

PROJECTED PRICE

$2,320

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,250
Loan Amount $438,749
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$12,455

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
  • $2,347

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4003$2,600
$2,600
RENT COMPS ANALYSIS
  • 537 Prairie Mound Ct San Diego, CA 1
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1983 Manzana San Diego, CA 2
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1985
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.62
    •  
  • 2336 Hampstead Way San Diego, CA 3
    • 4 beds 3 baths ∙ 1,771 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,771 Sqft ∙ Built 1981
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.47
    •  
PROPERTY LISTING DETAILS
Zandra Ulloa
1.619.736.8008
Active Realty
BESbswy