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5818 Pawnee Dr La Mesa, CA 91942

2 Beds 2 Baths 1,210 sqft Built 1990

$620,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
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.

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $210k594k

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

Neighborhood: La Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14702885

* 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
Maryland Avenue Elementary School Primary Regular 410 17 5
La Mesa Middle School Middle Regular 950 34 7
Grossmont High School High Regular 2,394 92 7

Maryland Avenue Elementary School

  • Education Level: Primary
  • # of students: 410
  • # of teachers: 17
5
GreatSchools Rating

La Mesa Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 34
7
GreatSchools Rating

Grossmont High School

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

$558,000$682,000$620,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

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.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,101

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7753$1,8004$1,850
$1,850
RENT COMPS ANALYSIS
  • 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
Melissa Gutierrez
1.760.855.3081
Compass
BESbswy