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6153 Baltimore Drive La Mesa, CA 91942

3 Beds 3 Baths 1,844 sqft Built 1967

$749,000

List Price

$3,230

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $406.18
  • 3 Days on Market
  • MLS # : 200051683
  • Updated Date : 11/14/2020 at 18:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,844 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Sd Metro

Listing Agent's Description

Welcome to this fabulous split level 3BR 2.5BA family home in La Mesa immediately across the street from Lake Murray and great hiking trails. The home's features include a cozy family room with wet bar and fireplace, tranquil landscaped back yard with hot tub and central heat and air conditioning. This home is located in one of the best school districts in the County, and is close to Cowles Mountain and Mission Trails park.

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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
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
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,907$3,553$3,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,230
EXPENSES Loan Payment -$2,763
Property Tax -$772
Property Insurance -$74
Property Management Fees -$129
CASH FLOW
-$508

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.

$749,000

PROJECTED PRICE

$3,230

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,763

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$29,326

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 6153 Baltimore Drive La Mesa, CA
    • 3 beds 3 baths ∙ 1,844 Sqft ∙ Built 1967 3 beds 3 baths ∙ 1,844 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
John Summerfruit
1.619.850.5390
Keller Williams Sd Metro
BESbswy