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PROPERTY INFO
FACTS
- Single Family
- Built In 1976
- Price/Sqft : $429.37
- 3 Days on Market
- MLS # : 210002427
- Updated Date : 01/30/2021 at 23:20
CONSTRUCTION
- Beds : 3
- Floor Size : 2,138 sqft
- Baths : 2 full , 1 half
Listing Agent
Big Block Realty, Inc.
Listing Agent's Description
Clairemont 3 bedroom 3 bath home with a BONUS room upstairs! Great for kids play room or office space. Home was recently professionally remodeled with wood floors, kitchen cabinets, stone counters, and stainless steel appliances. Large island good for quick breakfast for the kids, or spreading out to make your favorite dinner! Baths have designer stone counters and shower/bath surrounds. 2 beautiful stone fireplaces. Dont miss the large patio with sizable grass area.
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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: Clairemont Mesa East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Clairemont Mesa East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,490 |
| EXPENSES | Loan Payment | -$3,189 |
| Property Tax | -$890 | |
| Property Insurance | -$81 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$798
|
||
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.
$918,000
PROJECTED PRICE
$3,490
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 7.4% |
| 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
$249,020
LOAN DETAILS
$3,189
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $229,500 |
| Loan Amount | $688,500 |
2.42
YEARS SAVED
$15,965
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,490
LIST RENT -
$1.63
LIST RENT PER SQFT
-
$3,613
COMP ESTIMATED VALUE -
$1.69
COMP AVG. RENT PER SQFT
Comps Range
-
5928 Castleton Dr San Diego, CA 1
- 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 1976 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 1976
- Rent
- Rent Per SQFT
- $3,490
- $1.63
-
3455 Old Meadow Rd San Diego, CA 2
- 4 beds 3 baths ∙ 2,066 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,066 Sqft ∙ Built 1984
LEASED 02/24/20- Rent
- Rent Per SQFT
- $3,500
- $1.69
PROPERTY LISTING DETAILS
1.619.786.5950
Big Block Realty, Inc.
