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5425 Grape St San Diego, CA 92105

3 Beds 2 Baths 1,466 sqft Built 1960

$615,000

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $419.51
  • 5 Days on Market
  • MLS # : 200050709
  • Updated Date : 11/04/2020 at 22:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,466 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful single story home on a huge lot with solar, upgrades throughout, & a great backyard! Open concept floorplan with lots of light, plantation shutters, wood floors, a living room, dining room, & custom chefs kitchen with a gorgeous Wolf range, double ovens, Sub Zero fridge, an over-sized island with added storage & barstool seating! Large primary bedroom boasts pendant bedside lighting, reading bench, & an ensuite bathroom with a walk-in shower!

SEE MORE

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: Oak Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $158k621k

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

Neighborhood: Oak Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12492982

* 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
Oak Park Elementary School Primary Magnet 534 20 6
Mann Middle School Middle Regular 760 44 3
Crawford High School High Regular 1,161 59 NA

Oak Park Elementary School

  • Education Level: Primary
  • # of students: 534
  • # of teachers: 20
6
GreatSchools Rating

Mann Middle School

  • Education Level: Middle
  • # of students: 760
  • # of teachers: 44
3
GreatSchools Rating

Crawford High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 59
NA
GreatSchools Rating
 

$553,500$676,500$615,000

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$2,269
Property Tax -$597
Property Insurance -$64
Property Management Fees -$129
CASH FLOW
-$300

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$615,000

PROJECTED PRICE

$2,760

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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-$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$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$34,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $3,010

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,7603$2,7954$3,100
$3,100
RENT COMPS ANALYSIS
  • 5425 Grape St San Diego, CA 2
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $1.88
    •  
  • 129 South San Jacinto Dr San Diego, CA 1
    • 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1951
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $2.15
    •  
  • 5841 Hughes St. San Diego, CA 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1961
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.00
    •  
  • 1931 Genesta St San Diego, CA 4
    • 4 beds 2 baths ∙ 1,541 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,541 Sqft ∙ Built 1956
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.01
    •  
PROPERTY LISTING DETAILS
Tamara Markey
1.619.370.3256
Redfin Corporation
BESbswy