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6187 Parkside Ave San Diego, CA 92139

4 Beds 2 Baths 1,844 sqft Built 1972

$620,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $336.23
  • 2 Days on Market
  • MLS # : 200054622
  • Updated Date : 12/27/2020 at 00:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,844 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Beautiful 2 story home in paradise hills, it has 4 bedrooms & 2 1/2 bathrooms. gorgeous laminate flooring throughout the first floor, dual pane windows throughout entire home. Recently went through a full remodel of the kitchen, quartz countertops, stainless steel appliances. Tasteful updates like a nest thermostat & security system that is staying with the home. Nicely sized backyard space with a built in BBQ grill. WILL BE OPEN TOMORROW (12/27) 12-2PM.

SEE MORE

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: Paradise Hills

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $187k621k

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

Neighborhood: Paradise Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542982

* 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
Pacific View Leadership Elementary School Primary Regular 348 13 6
Bell Middle School Middle Regular 912 44 3
Morse High School High Regular 1,808 83 5

Pacific View Leadership Elementary School

  • Education Level: Primary
  • # of students: 348
  • # of teachers: 13
6
GreatSchools Rating

Bell Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 44
3
GreatSchools Rating

Morse High School

  • Education Level: High
  • # of students: 1,808
  • # of teachers: 83
5
GreatSchools Rating
 

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

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,288
Property Tax -$643
Property Insurance -$74
Property Management Fees -$129
CASH FLOW
-$613

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$620,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$10,647

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
  • $2,483

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,6004$2,650
$2,650
RENT COMPS ANALYSIS
  • 6187 Parkside Ave San Diego, CA 1
    • 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2621 Crosshaven Lane San Diego, CA 2
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1980
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.46
    •  
  • 77 Flower St Chula Vista, CA 3
    • 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 1960
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.30
    •  
  • 6842 Alsacia St San Diego, CA 4
    • 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 1977
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.28
    •  
PROPERTY LISTING DETAILS
Ricardo Ramos
1.619.346.8316
Compass
BESbswy