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5957 Avenida Chamnez 
La Jolla, CA
92037
3 Beds 2 Baths 2,361 sqft
Built 1960
INVESTimate
$1,975,000
List Price
$529,125
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PROPERTY INFO
FACTS
- Built In 1960
- Price/Sqft : $836.51
- 12 Days on Market
- MLS # : 200040730
- Updated Date : 08/26/2020 at 02:32
CONSTRUCTION
- Beds : 3
- Floor Size : 2,361 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
This mid-century modern single level home sits above the street level and is located on a double cul de sac. The house features an open floor plan with double sliding doors in the living room which makes the home light and airy. The spacious private backyard is perfect for outdoor entertaining, with an separate area to play basketball or other activities. It also features some ocean view from the living room and front patio. This great home is close to beaches and La Jolla's Village.
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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
Neighborhood: Muirlands
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Muirlands
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $5,710 |
| EXPENSES | Loan Payment | -$7,287 |
| Property Tax | -$1,902 | |
| Property Insurance | -$87 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$3,694
|
||
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.
$1,975,000
PROJECTED PRICE
$5,710
PROJECTED RENT
0.29%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.65% |
| Appreciation Year (1-5) | 3.03% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.45% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$529,125
LOAN DETAILS
$7,287
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $493,750 |
| Loan Amount | $1,481,250 |
0.17
YEARS SAVED
$204
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
-
$6,026
COMP ESTIMATED VALUE -
$2.55
COMP AVG. RENT PER SQFT
Comps Range
-
5957 Avenida Chamnez La Jolla, 1
- 3 beds 2 baths ∙ 2,361 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,361 Sqft ∙ Built 1960
- Rent
- Rent Per SQFT
- $0
- $0.00
-
6273 Calle Veracruz La Jolla, 2
- 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 1965
LEASED 07/29/20- Rent
- Rent Per SQFT
- $5,700
- $2.51
-
845 Lamplight Dr. La Jolla, 3
- 3 beds 2 baths ∙ 2,371 Sqft ∙ Built 1962 3 beds 2 baths ∙ 2,371 Sqft ∙ Built 1962
LEASED 06/23/20- Rent
- Rent Per SQFT
- $5,895
- $2.49
-
1681 Paseo Bonita La Jolla, 4
- 4 beds 3 baths ∙ 2,533 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,533 Sqft ∙ Built 1980
LEASED 11/04/19- Rent
- Rent Per SQFT
- $6,000
- $2.37
-
5556 Waverly La Jolla, 5
- 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1947 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1947
LEASED 05/16/19- Rent
- Rent Per SQFT
- $7,000
- $2.84
PROPERTY LISTING DETAILS
1.619.980.2738
Coldwell Banker Realty
