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6408 Crabtree St San Diego, CA 92114

3 Beds 2 Baths 1,469 sqft Built 1981

$575,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $391.42
  • 4 Days on Market
  • MLS # : 210000334
  • Updated Date : 01/08/2021 at 22:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,469 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

This beautifully remodeled 3 bedroom, 2 bathroom home is a can’t miss. A 2019 kitchen remodel features quartz countertops, new cabinets, new sink and faucet, and new garbage disposal. Rounding out this kitchen update are stainless steel appliances. Both the living room and dining room open to the kitchen. On the roof a solar power system helps ensure you are able to maximize your energy use year round. With a spacious corner lot and large back yard finished with concrete, pavers and a patio cover, you...

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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: Bay Terraces

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $186k621k

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

Neighborhood: Bay Terraces

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13602982

* 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
Bethune Elementary School Primary Regular 647 25 7
Bethune Elementary School Middle Regular 647 25 7
Morse High School High Regular 1,808 83 5

Bethune Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 25
7
GreatSchools Rating

Bethune Elementary School

  • Education Level: Middle
  • # of students: 647
  • # of teachers: 25
7
GreatSchools Rating

Morse High School

  • Education Level: High
  • # of students: 1,808
  • # of teachers: 83
5
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,997
Property Tax -$559
Property Insurance -$64
Property Management Fees -$129
CASH FLOW
-$359

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.

$575,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$19,199

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
  • $2,199

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,6004$2,650
$2,650
RENT COMPS ANALYSIS
  • 6408 Crabtree St San Diego, CA 1
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2621 Crosshaven Lane San Diego, CA 2
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1980
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.46
    •  
  • 2336 Hampstead Way San Diego, CA 3
    • 4 beds 3 baths ∙ 1,771 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,771 Sqft ∙ Built 1981
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.47
    •  
  • 1325 Manzana Way San Diego, CA 4
    • 4 beds 3 baths ∙ 1,701 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,701 Sqft ∙ Built 1986
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.56
    •  
PROPERTY LISTING DETAILS
Sarah Messali
1.858.668.9024
Exp Realty Of California Inc
BESbswy