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

6342 Inman St San Diego, CA 92111

4 Beds 2 Baths 1,864 sqft Built 1950

$780,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $418.45
  • 3 Days on Market
  • MLS # : 200052709
  • Updated Date : 11/27/2020 at 22:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,864 sqft
  • Baths : 2 full
Listing Agent

Re/max United

Listing Agent's Description

Welcome home! Bring all of your your RV's, boats, and toys!!! Very rare, large corner lot has enclosed RV/Toy parking with two driveways: one with an extra wide double door gate for RV entry. Excellent potential to build a second story ADU over the garage for possible residual income thanks to the extra reinforced foundation! Spacious rooms, lots of storage (large closets), great floorplan, & separate entrance to the family room. Enjoy the large kitchen accessible from both the family room & living room.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Linda Vista

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $195k621k

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

Neighborhood: Linda Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14072982

* 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
Linda Vista Elementary School Primary Regular 437 22 3
Montgomery Middle School Middle Regular 475 27 3
Kearney High School High Magnet 322 16 6

Linda Vista Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 22
3
GreatSchools Rating

Montgomery Middle School

  • Education Level: Middle
  • # of students: 475
  • # of teachers: 27
3
GreatSchools Rating

Kearney High School

  • Education Level: High
  • # of students: 322
  • # of teachers: 16
6
GreatSchools Rating
 

$702,000$858,000$780,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,878
Property Tax -$758
Property Insurance -$74
Property Management Fees -$129
CASH FLOW
-$679

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.

$780,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.3%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

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$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$19,608

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
  • $3,281

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2003$3,825
$3,825
RENT COMPS ANALYSIS
  • 6342 Inman St San Diego, CA 1
    • 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4164 Balboa Way San Diego, CA 2
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1967 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1967
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.67
    •  
  • 4640 Huron Ave San Diego, CA 3
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1953 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1953
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,825
    • $1.85
    •  
PROPERTY LISTING DETAILS
Judy Spady
1.858.271.4900
Re/max United
BESbswy