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6372 Amber Lake Ave San Diego, CA 92119

3 Beds 2 Baths 1,366 sqft Built 1957

$729,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $533.67
  • 3 Days on Market
  • MLS # : 200054954
  • Updated Date : 01/02/2021 at 22:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,366 sqft
  • Baths : 2 full
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

Beautiful home in highly desirable San Carlos. Completely remodeled by owner/occupants and move-in ready! This is not a flip. This home features an open floorplan, vaulted ceilings, crown moulding, recessed lighting and dual pane windows. NEW SOLAR INSTALLED AND PAID FOR. Rear yard is perfect for entertaining with multiple gathering areas, lush shade trees and new low maintenance synthetic turf. This home is close to shopping and has easy freeway access. See supplement for full list of improvements.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Murray

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $233k746k

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

Neighborhood: Lake Murray

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15663384

* 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
Gage Elementary School Primary Regular 457 17 6
Pershing Middle School Middle Regular 701 32 7
Henry High School High Regular 2,437 97 9

Gage Elementary School

  • Education Level: Primary
  • # of students: 457
  • # of teachers: 17
6
GreatSchools Rating

Pershing Middle School

  • Education Level: Middle
  • # of students: 701
  • # of teachers: 32
7
GreatSchools Rating

Henry High School

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

$656,100$801,900$729,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,690
Property Tax -$722
Property Insurance -$62
Property Management Fees -$129
CASH FLOW
-$972

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.

$729,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

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

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$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,334

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
  • $2,698

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4953$3,300
$3,300
RENT COMPS ANALYSIS
  • 6372 Amber Lake Ave San Diego, CA 1
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7807 Tommy Dr #54 San Diego, CA 2
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1973
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.94
    •  
  • 6390 Belle Glade Ave San Diego, CA 3
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1969
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.01
    •  
PROPERTY LISTING DETAILS
Tom Woliver
1.858.752.4400
Big Block Realty, Inc.
BESbswy