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6374 Boulder Lake Avenue San Diego, CA 92119

3 Beds 2 Baths 1,098 sqft Built 1960

$739,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $673.04
  • 6 Days on Market
  • MLS # : 210003522
  • Updated Date : 02/10/2021 at 04:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,098 sqft
  • Baths : 2 full
Listing Agent

Graff Realty, Inc.

Listing Agent's Description

Located near Lake Murray, the San Carlos Community Garden + Recreation Center and with convenient access to CA-125, this 3 bed, 2 bath, single-story home is on .24 acre! This welcoming, open floor plan overlooks a private, fenced-in, drought tolerant yard and includes an oversized hot tub, playground + custom shed! Property features include a newly remodeled kitchen + new appliances, upgraded bathrooms, a freshly painted interior, new flooring, smart home features, attached two-car garage + RV parking!

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: 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
Benchley Weinberger Elementary School Primary Magnet 559 21 9
Pershing Middle School Middle Regular 701 32 7
Henry High School High Regular 2,437 97 9

Benchley Weinberger Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 21
9
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
 

$665,100$812,900$739,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$2,567
Property Tax -$732
Property Insurance -$55
Property Management Fees -$129
CASH FLOW
-$1,313

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.

$739,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.29%

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

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$201,585

INVESTMENT

$201,585

Down Payment
$184,750
Rehab Estimate
$5,750
Closing Costs
$11,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,567

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,750
Loan Amount $554,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$62

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
  • $1,998

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3503$2,495
$2,495
RENT COMPS ANALYSIS
  • 6374 Boulder Lake Avenue San Diego, CA 1
    • 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5715 Baltimore Dr. ##44 La Mesa, CA 2
    • 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 1979
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.70
    •  
  • 7807 Tommy Dr #54 San Diego, CA 3
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1973
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.94
    •  
PROPERTY LISTING DETAILS
Daniel Graff
1.858.888.5028
Graff Realty, Inc.
BESbswy