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6304 Cypress Point Rd San Diego, CA 92120

4 Beds 3 Baths 2,583 sqft Built 1969

$1,249,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $483.55
  • 6 Days on Market
  • MLS # : 210000114
  • Updated Date : 01/10/2021 at 06:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,583 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Award

Listing Agent's Description

Experience your resort getaway right in your own backyard. Enjoy the pool and spa and listen to the waterfall in the peaceful and private backyard. Located on one of the best streets in Del Cerro, this home sits high off the street with no one behind you. The gorgeous kitchen and baths were professionally designed and remodeled. The kitchen opens to the dining area and family room. The Master bedroom has a custom bath, walk-in closet and slider to the spa. The Solar is owned and the pool is solar heated.

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: Del Cerro

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $233k785k

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

Neighborhood: Del Cerro

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16273601

* 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
Hearst Elementary School Primary Regular 497 18 10
Lewis Middle School Middle Regular 1,042 41 7
Henry High School High Regular 2,437 97 9

Hearst Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 18
10
GreatSchools Rating

Lewis Middle School

  • Education Level: Middle
  • # of students: 1,042
  • # of teachers: 41
7
GreatSchools Rating

Henry High School

  • Education Level: High
  • # of students: 2,437
  • # of teachers: 97
9
GreatSchools Rating
 

$1,124,100$1,373,900$1,249,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$4,338
Property Tax -$1,237
Property Insurance -$92
Property Management Fees -$129
CASH FLOW
-$1,887

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,249,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$336,735

INVESTMENT

$336,735

Down Payment
$312,250
Rehab Estimate
$5,750
Closing Costs
$18,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,338

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $312,250
Loan Amount $936,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$211

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
  • $3,900

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2003$3,3504$4,200
$4,200
RENT COMPS ANALYSIS
  • 6304 Cypress Point Rd San Diego, CA 1
    • 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6259 Oakridge San Diego, CA 2
    • 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 1972
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.41
    •  
  • 6919 Birchcreek Rd San Carlos, CA 3
    • 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 1981
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.42
    •  
  • 7479 Comet View Ct San Diego, CA 4
    • 4 beds 2 baths ∙ 2,467 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,467 Sqft ∙ Built 1973
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.70
    •  
PROPERTY LISTING DETAILS
Linda Harris
1.619.820.4789
Century 21 Award
BESbswy