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645 Sage Way San Diego, CA 92114

3 Beds 2 Baths 962 sqft Built 1980

$525,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $545.74
  • 4 Days on Market
  • MLS # : 210004222
  • Updated Date : 02/18/2021 at 20:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 962 sqft
  • Baths : 2 full
Listing Agent

24/7 Realty Inc

Listing Agent's Description

Move in ready 3 bed, 2 bath home on a quiet cul-de-sac. Single story with great layout. Spacious living room with the fireplace, stylish kitchen, and walkout to the backyard with shaded area under the oversized pergola makes it easy for entertaining. Living room and bedrooms have bamboo flooring. Kitchen: stainless steel appliances, granite counters, travertine flooring. Bathrooms are all upgraded. Oversized garage has ton of custom-made storage cabinets. Paid off solar system. Water softening system. Ample space in front of the house for additional parking; separate enclosed area for gardening. Large fully fenced front and back yard; automated gate to enter the property.

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: Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $183k621k

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

Neighborhood: Encanto

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12992982

* 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
Encanto Elementary School Primary Regular 504 22 4
Millennial Tech Middle School Middle Magnet 467 26 2
Lincoln High School High Regular 1,516 72 3

Encanto Elementary School

  • Education Level: Primary
  • # of students: 504
  • # of teachers: 22
4
GreatSchools Rating

Millennial Tech Middle School

  • Education Level: Middle
  • # of students: 467
  • # of teachers: 26
2
GreatSchools Rating

Lincoln High School

  • Education Level: High
  • # of students: 1,516
  • # of teachers: 72
3
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,824
Property Tax -$510
Property Insurance -$51
Property Management Fees -$129
CASH FLOW
-$224

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$525,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$25,239

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
  • $2,256

    COMP ESTIMATED VALUE
  • $2.34

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,750
$2,750
RENT COMPS ANALYSIS
  • 645 Sage Way San Diego, CA 1
    • 3 beds 2 baths ∙ 962 Sqft ∙ Built 1980 3 beds 2 baths ∙ 962 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6333 College Grove Way #11203 San Diego, CA 2
    • 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1976
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $2.15
    •  
  • 1285 Moraea St San Diego, CA 3
    • 3 beds 2 baths ∙ 1,081 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,081 Sqft ∙ Built 1979
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.54
    •  
PROPERTY LISTING DETAILS
Irina Klyaz
1.858.999.4300
24/7 Realty Inc
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210004222
Last Updated: 02/18/2021
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