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5688 Desert View Dr La Jolla, CA 92037

3 Beds 2 Baths 1,793 sqft Built 1976

$1,298,000

List Price

$4,090

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1976
  • Price/Sqft : $723.93
  • 2 Days on Market
  • MLS # : 200051075
  • Updated Date : 11/07/2020 at 23:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,793 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Spectacular 180 degree views from family room, kitchen, and 2 bedrooms, as well as the extremely oversized patio/deck with spa that is perfect for entertaining. Remodeled in 2006, this home is warm and inviting. Ceramic tile and laminate throughout the home. Stainless steel appliances, granite counter tops, and maple cabinets. Large living room with a cozy fireplace. Double paned windows and sliding door. Has a 10,000 sf lot that has been terraced with more than a dozen fruit bearing trees.

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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: Soledad South

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $240k1432k

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

Neighborhood: Soledad South

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000Rent in $16276370

* 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
La Jolla Elementary School Primary Regular 595 25 10
Muirlands Middle School Middle Regular 1,033 41 9
La Jolla High School High Regular 1,588 59 9

La Jolla Elementary School

  • Education Level: Primary
  • # of students: 595
  • # of teachers: 25
10
GreatSchools Rating

Muirlands Middle School

  • Education Level: Middle
  • # of students: 1,033
  • # of teachers: 41
9
GreatSchools Rating

La Jolla High School

  • Education Level: High
  • # of students: 1,588
  • # of teachers: 59
9
GreatSchools Rating
 

$1,168,200$1,427,800$1,298,000

PURCHASE PRICE

$3,681$4,499$4,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,090
EXPENSES Loan Payment -$4,789
Property Tax -$1,250
Property Insurance -$72
Property Management Fees -$129
CASH FLOW
-$2,150

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.

$1,298,000

PROJECTED PRICE

$4,090

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.2%
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

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$349,720

INVESTMENT

$349,720

Down Payment
$324,500
Rehab Estimate
$5,750
Closing Costs
$19,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,500
Loan Amount $973,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$183

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
  • $4,097

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8103$3,9954$4,2005$4,400
$4,400
RENT COMPS ANALYSIS
  • 5688 Desert View Dr La Jolla, CA 1
    • 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1707 Caminito Ardiente La Jolla, CA 2
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 1977
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,810
    • $2.20
    •  
  • 2245 Caminito Loreta La Jolla, CA 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1974
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.35
    •  
  • 5878 Soledad Mountain Road La Jolla, CA 4
    • 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 1961
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.14
    •  
  • 5688 Desert View Dr. La Jolla, CA 5
    • 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1976
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.45
    •  
PROPERTY LISTING DETAILS
Michael Seddigh
1.858.837.1285
Coldwell Banker Realty
BESbswy