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5530 Waring Rd San Diego, CA 92120

4 Beds 2 Baths 1,458 sqft Built 1956

$779,900

List Price

$3,140

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $534.91
  • 6 Days on Market
  • MLS # : 210003453
  • Updated Date : 02/10/2021 at 13:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,458 sqft
  • Baths : 2 full
Listing Agent

Homesmart Realty West

Listing Agent's Description

Beautiful single story modern beach home in Allied Gardens area. Open floor plan with vaulted ceilings, upgraded kitchen, bathrooms, paint and flooring. Top rated schools. Centrally located minutes away from San Diego's best. Covered patio with good size yard. Finished detached garage that can easy be converted into living area. Minutes away from San Diego Estate University and the best hiking trails in San Diego.

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: 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
Marvin Elementary School Primary Regular 404 16 10
Lewis Middle School Middle Regular 1,042 41 7
Henry High School High Regular 2,437 97 9

Marvin Elementary School

  • Education Level: Primary
  • # of students: 404
  • # of teachers: 16
10
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
 

$701,910$857,890$779,900

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$2,709
Property Tax -$758
Property Insurance -$64
Property Management Fees -$129
CASH FLOW
-$519

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.

$779,900

PROJECTED PRICE

$3,140

PROJECTED RENT

0.40%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$212,424

INVESTMENT

$212,424

Down Payment
$194,975
Rehab Estimate
$5,750
Closing Costs
$11,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $194,975
Loan Amount $584,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$23,717

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
  • $2,926

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9503$3,3004$3,675
$3,675
RENT COMPS ANALYSIS
  • 5530 Waring Rd San Diego, CA 1
    • 4 beds 2 baths ∙ 1,458 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,458 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 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
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.97
    •  
  • 6390 Belle Glade Ave San Diego, CA 3
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1969
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.01
    •  
  • 5586 Hamill Ave San Diego, CA 4
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1956
    property image
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,675
    • $2.04
    •  
PROPERTY LISTING DETAILS
Cesar Lopez
1.916.316.9671
Homesmart Realty West
BESbswy