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6652 Del Cerro Blvd San Diego, CA 92120

4 Beds 2 Baths 1,568 sqft Built 1957

$885,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $564.41
  • 4 Days on Market
  • MLS # : 210005607
  • Updated Date : 03/05/2021 at 18:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,568 sqft
  • Baths : 2 full
Listing Agent

United Real Estate San Diego

Listing Agent's Description

Del Cerro Darling! Turnkey, impeccable single story home with beautiful panoramic hillside views. Immaculate condition! Inside find the charm of original oak hardwood floors, custom paint & molding throughout, and newly remodeled bathrooms. Kitchen has updated cabinetry, lighting, & granite countertops. Spacious family room w/ cozy fireplace. Relax at covered patio overlooking the serene backyard accessed from Master BR, dining room, & kitchen. Private access to guest suite/BR4. Attractive drought tolerant front yard and large private backyard oasis with lush green grass, flowering plants, waterfall, koi pond, & built in gas BBQ. Owned solar. This special property won't last long. Welcome home!

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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: 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
Hearst Elementary School Primary Regular 497 18 10
Lewis Middle School Middle Regular 1,042 41 7
Henry High School High Regular 2,437 97 9

Hearst Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 18
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
 

$796,500$973,500$885,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$3,074
Property Tax -$860
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$1,349

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.

$885,000

PROJECTED PRICE

$2,780

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$240,275

INVESTMENT

$240,275

Down Payment
$221,250
Rehab Estimate
$5,750
Closing Costs
$13,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,074

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $221,250
Loan Amount $663,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$150

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
  • $2,734

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0503$3,1004$3,300
$3,300
RENT COMPS ANALYSIS
  • 6652 Del Cerro Blvd San Diego, CA 1
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6871 Alvarado Road #5 San Diego, CA 2
    • 3 beds 3 baths ∙ 1,445 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,445 Sqft ∙ Built 1970
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.42
    •  
  • 5673 Barclay Ave San Diego, CA 3
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1957
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.80
    •  
  • 6390 Belle Glade Ave San Diego, CA 4
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1969
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.01
    •  
PROPERTY LISTING DETAILS
Suzanne Stoneall
1.619.757.3075
United Real Estate San Diego
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005607
Last Updated: 03/05/2021
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