Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6226 Plateau Dr San Diego, CA 92139

3 Beds 2 Baths 1,250 sqft Built 1959

INVESTimate

$634,500

List Price

$2,460

$2,214 - $2,706

Rent Est.

$673,458  ( +6.14%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $507.60
  • 6 Days on Market
  • MLS # : 200040500
  • Updated Date : 08/24/2020 at 17:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,250 sqft
  • Baths : 2 full
Listing Agent

Homecoin.com

Listing Agent's Description

Wow, completely remodeled smart home with detached living space that can be used for whatever your creativity suggests. Waterproof LVP floor throughout including your two private spas, I mean bathrooms! Awesome layout that makes the property feel more spacious than sqf suggests. Control almost everything with your voice, app or switch. Some pictures have been virtually staged to lessen the risk of infection. Smart equipment (TV, media center/tablet, speakers, etc) are being programmed and will convey.

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
 

$571,050$697,950$634,500

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,341
Property Tax -$568
Property Insurance -$59
Property Management Fees -$129
CASH FLOW
-$636

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.

$634,500

PROJECTED PRICE

$2,460

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 6.14%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$173,893

INVESTMENT

$173,893

Down Payment
$158,625
Rehab Estimate
$5,750
Closing Costs
$9,518

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,341

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $158,625
Loan Amount $475,875
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$10,771

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $2,613

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4603$3,300
$3,300
RENT COMPS ANALYSIS
  • 6226 Plateau Dr San Diego, 2
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.97
    •  
  • 6525 Bullock San Diego, 1
    • 4 beds 2 baths ∙ 1,434 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,434 Sqft ∙ Built 1979
    property image
    LEASED 04/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.67
    •  
  • 5504 Roanoke St San Diego, 3
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1957
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.51
    •  
PROPERTY LISTING DETAILS
Jonathan Minerick
1.888.400.2513
Homecoin.com
BESbswy