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6385 Camino Corto San Diego, CA 92120

4 Beds 3 Baths 2,694 sqft Built 1973

$1,250,000

List Price

$3,860

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $463.99
  • 4 Days on Market
  • MLS # : 210002957
  • Updated Date : 02/06/2021 at 23:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,694 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Sophisticated & Inspiring. A complete designer transformation was recently completed in this captivating Del Cerro home & sellers spared no expense. New kitchen cabinetry,Tutto Marmo marble countertops, new stainless appliances, porcelain tile flooring,new windows & doors,AC install,& many lighting, painting & plumbing upgrades.Full renovation of all bathrooms by a professional designer. Exterior improvements include full exterior painting,quality turf by US Turf,pool deck renovation & new pool equipment.

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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
Marvin Elementary School Primary Regular 404 16 10
Lewis Middle School Middle Regular 1,042 41 7
Henry High School High Regular 2,437 97 9

Marvin Elementary School

  • Education Level: Primary
  • # of students: 404
  • # of teachers: 16
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
 

$1,125,000$1,375,000$1,250,000

PURCHASE PRICE

$3,474$4,246$3,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,860
EXPENSES Loan Payment -$4,342
Property Tax -$1,238
Property Insurance -$95
Property Management Fees -$129
CASH FLOW
-$1,944

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.

$1,250,000

PROJECTED PRICE

$3,860

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$337,000

INVESTMENT

$337,000

Down Payment
$312,500
Rehab Estimate
$5,750
Closing Costs
$18,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,342

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $312,500
Loan Amount $937,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$144

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
  • $4,203

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,3503$4,200
$4,200
RENT COMPS ANALYSIS
  • 6385 Camino Corto San Diego, CA 1
    • 4 beds 3 baths ∙ 2,694 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,694 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6919 Birchcreek Rd San Carlos, CA 2
    • 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 3
    • 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
Clinton Selfridge
1.619.519.0964
Pacific Sotheby's Int'l Realty
BESbswy