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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $512.40
- 3 Days on Market
- MLS # : 210001243
- Updated Date : 01/16/2021 at 00:33
CONSTRUCTION
- Beds : 2
- Floor Size : 1,210 sqft
- Baths : 2 full
Listing Agent
Compass
Listing Agent's Description
This 2BD 2BA, 2 story home located near Lake Murray offers a simple floor plan, large backyard with overlooking deck, and plenty of natural lighting throughout. This contemporary style home has stainless steel appliances, tile flooring, and the LARGE, downstairs bonus room includes a kitchenette, separate entrance, and full bathroom. Located in La Mesa Colony on a large lot and walking distance to Sunset Park. Minutes from the 8 freeway, shopping centers, and Lake Murray Trail Head.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: La Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: La Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,110 |
| EXPENSES | Loan Payment | -$2,153 |
| Property Tax | -$639 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$869
|
||
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.
$620,000
PROJECTED PRICE
$2,110
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.80% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$170,050
LOAN DETAILS
$2,153
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $155,000 |
| Loan Amount | $465,000 |
0.42
YEARS SAVED
$663
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,101
COMP ESTIMATED VALUE -
$1.74
COMP AVG. RENT PER SQFT
Comps Range
-
5818 Pawnee Dr La Mesa, CA 1
- 2 beds 2 baths ∙ 1,210 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,210 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $0
- $0.00
-
8220 Vincetta Dr #13 La Mesa, CA 2
- 2 beds 2 baths ∙ 999 Sqft ∙ Built 1970 2 beds 2 baths ∙ 999 Sqft ∙ Built 1970
LEASED 06/25/20- Rent
- Rent Per SQFT
- $1,775
- $1.78
-
8741 Lake Murray Blvd. #10 San Diego, CA 3
- 2 beds 1 baths ∙ 1,041 Sqft ∙ Built 1972 2 beds 1 baths ∙ 1,041 Sqft ∙ Built 1972
LEASED 08/31/20- Rent
- Rent Per SQFT
- $1,800
- $1.73
-
5700 Baltimore #208 San Diego, CA 4
- 2 beds 3 baths ∙ 1,086 Sqft ∙ Built 1976 2 beds 3 baths ∙ 1,086 Sqft ∙ Built 1976
LEASED 06/12/20- Rent
- Rent Per SQFT
- $1,850
- $1.70
PROPERTY LISTING DETAILS
1.760.855.3081
Compass
