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5625 Severin Drive La Mesa, CA 91942

3 Beds 2 Baths 1,735 sqft Built 1961

$639,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $368.30
  • 53 Days on Market
  • MLS # : 210000460
  • Updated Date : 01/22/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,735 sqft
  • Baths : 2 full
Listing Agent

Ten X Realty

Listing Agent's Description

Welcome home to your gorgeous La Mesa property with a sparkling pool & beautiful views!! Imagine warm afternoons poolside relaxing, or having the whole family over for a pool party and BBQ...there is even a built-in fire pit and covered porch for your entertainment needs! Enjoy gatherings in your huge living room & family room with a cozy fireplace. Central A/C and updated bathrooms too!

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

Zip Code: 91942

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $198k594k

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

Zip Code: 91942

ZipNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14692885

* 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
Northmont Elementary School Primary Regular 487 18 6
Parkway Middle School Middle Regular 737 26 7
Grossmont High School High Regular 2,394 92 7

Northmont Elementary School

  • Education Level: Primary
  • # of students: 487
  • # of teachers: 18
6
GreatSchools Rating

Parkway Middle School

  • Education Level: Middle
  • # of students: 737
  • # of teachers: 26
7
GreatSchools Rating

Grossmont High School

  • Education Level: High
  • # of students: 2,394
  • # of teachers: 92
7
GreatSchools Rating
 

$575,100$702,900$639,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,219
Property Tax -$658
Property Insurance -$71
Property Management Fees -$129
CASH FLOW
-$78

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.

$639,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,219

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$49,805

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
  • $3,409

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,895
$3,895
RENT COMPS ANALYSIS
  • 5625 Severin Drive La Mesa, CA 1
    • 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1159 Benjamin Pl El Cajon, CA 2
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1967
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
  • 6122 Nagel St La Mesa, CA 3
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1953
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $2.19
    •  
PROPERTY LISTING DETAILS
Susan Griffith
1.858.829.5200
Ten X Realty
BESbswy