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6292 Sunset Crest Way San Diego, CA 92121

4 Beds 2 Baths 1,832 sqft Built 2000

INVESTimate

$898,300

List Price

$3,220

$2,970 - $3,470

Rent Est.

$955,881  ( +6.41%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $490.34
  • 20 Days on Market
  • MLS # : 200038365
  • Updated Date : 08/24/2020 at 16:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,832 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California, Inc

Listing Agent's Description

Spacious, single-story corner lot home in great neighborhood***Bright and open floor plan with vaulted ceilings throughout and great natural light***Beautifully updated kitchen with quartzite counter-tops, modern white cabinetry, a large island and stainless steel appliances, including a new dishwasher***Large living room with custom built-in cabinets and shelves surrounding fireplace...(See Supplement)

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: Sorrento Valley

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $233k1266k

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

Neighborhood: Sorrento Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000250030003500400045005000Rent in $16275309

* 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
Hickman Elementary School Primary Regular 581 21 9
Challenger Middle School Middle Regular 990 39 9
Mira Mesa High School High Regular 2,453 106 9

Hickman Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 21
9
GreatSchools Rating

Challenger Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 39
9
GreatSchools Rating

Mira Mesa High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 106
9
GreatSchools Rating
 

$808,470$988,130$898,300

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

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-$20k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$3,314
Property Tax -$848
Property Insurance -$73
HOA -$52
Property Management Fees -$129
CASH FLOW
-$1,197

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.

$898,300

PROJECTED PRICE

$3,220

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.65%
Appreciation Year (1-5) 6.41%
Maintenance Year (1-5) 8.00%
Vacancy 5.45%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,800

INVESTMENT

$243,800

Down Payment
$224,575
Rehab Estimate
$5,750
Closing Costs
$13,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,314

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,575
Loan Amount $673,725
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$3,571

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
  • $3,179

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,3953$3,800
$3,800
RENT COMPS ANALYSIS
  • 6292 Sunset Crest Way San Diego, 1
    • 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 11235 Caminito Inocenta San Diego, 2
    • 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 1991
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.57
    •  
  • 10719 Passerine Way San Diego, 3
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1998
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.90
    •  
PROPERTY LISTING DETAILS
Daniel Beer
1.858.465.7909
Exp Realty Of California, Inc
BESbswy