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6104 Laport St La Mesa, CA 91942

4 Beds 3 Baths 2,005 sqft Built 1967

$899,900

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $448.83
  • 3 Days on Market
  • MLS # : 210003850
  • Updated Date : 02/12/2021 at 23:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,005 sqft
  • Baths : 3 full
Listing Agent

Best Homes Team

Listing Agent's Description

Incredible location! On Cul-de-sac on Lake Murray! Lake Murray Park is your back yard! Views of the lake, sunsets, mountains, hills, and more! Front row seats to one of SD County's best 4th of July fireworks shows! Walk, run, bike, fish, kayak, and more - all from your back yard! That's the good news! The other side - this is a semi-heavy fixer upper. Will not qualify for financing - cash or hard money only. Pool is shot - needs major renovation or removal. But - newer solar, windows & doors, and HVAC!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
La Mesa Middle School Middle Regular 950 34 7
Grossmont High School High Regular 2,394 92 7
Grossmont High School High Unknown NA

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

Grossmont High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$809,910$989,890$899,900

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$3,126
Property Tax -$927
Property Insurance -$78
Property Management Fees -$129
CASH FLOW
-$1,059

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.

$899,900

PROJECTED PRICE

$3,200

PROJECTED RENT

0.36%

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$244,224

INVESTMENT

$244,224

Down Payment
$224,975
Rehab Estimate
$5,750
Closing Costs
$13,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,126

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,975
Loan Amount $674,925
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$4,553

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,200

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $3,348

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2003$3,2004$3,2005$3,950
$3,950
RENT COMPS ANALYSIS
  • 6104 Laport St La Mesa, CA 4
    • 4 beds 3 baths ∙ 2,005 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,005 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.60
    •  
  • 7415 Rondel San Carlos, CA 1
    • 3 beds 4 baths ∙ 2,061 Sqft ∙ Built 1981 3 beds 4 baths ∙ 2,061 Sqft ∙ Built 1981
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.46
    •  
  • 5363 West Falls View Drive San Diego, CA 2
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1952
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.66
    •  
  • 7844 Lake Tahoe Ave San Diego, CA 3
    • 4 beds 2 baths ∙ 1,961 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,961 Sqft ∙ Built 1968
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.63
    •  
  • 7464 Comet View Ct San Diego, CA 5
    • 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1973
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.93
    •  
PROPERTY LISTING DETAILS
Robert Northrup
1.619.857.1155
Best Homes Team
BESbswy