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6731 Clara Lee Ave San Diego, CA 92120

4 Beds 3 Baths 2,247 sqft Built 1957

INVESTimate

$749,000

List Price

$3,450

$3,200 - $3,700

Rent Est.

$798,134  ( +6.56%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1957
  • Price/Sqft : $333.33
  • 6 Days on Market
  • MLS # : 200040600
  • Updated Date : 08/23/2020 at 00:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,247 sqft
  • Baths : 3 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Value-loaded ranch home in a wonderful community. 4th bedroom is a studio; independent entrance, full-size kitchen hook-ups, bathroom, 2nd laundry room. Flowing floorplan, big master bedroom, several common areas with a generous open kitchen. Enjoy hosting and having plenty of space for home office/schooling. These owners invested in dual-zone Nest HVAC, all double-pane windows, fully refinished garage, Toto toilets, and lots more. Not a flip, customize it yourself with your own finishing touches.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Allied Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $221k621k

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

Neighborhood: Allied Gardens

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14572982

* 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
Foster Elementary School Primary Regular 367 15 7
Lewis Middle School Middle Regular 1,042 41 7
Henry High School High Regular 2,437 97 9

Foster Elementary School

  • Education Level: Primary
  • # of students: 367
  • # of teachers: 15
7
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
 

$674,100$823,900$749,000

PURCHASE PRICE

$3,105$3,795$3,450

RENT

DOWN PAYMENT
FINANCING

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$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,450
EXPENSES Loan Payment -$2,763
Property Tax -$728
Property Insurance -$84
Property Management Fees -$129
CASH FLOW
-$254

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.

$749,000

PROJECTED PRICE

$3,450

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.56%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,763

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$53,901

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,450

    LIST RENT
  • $1.54

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$3,450
1$3,450
$3,450
RENT COMPS ANALYSIS
  • 6731 Clara Lee Ave San Diego,
    • 4 beds 2 baths ∙ 2,247 Sqft ∙ Built 1957 4 beds 2 baths ∙ 2,247 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.54
    •  
PROPERTY LISTING DETAILS
Albert Galura
1.858.344.9499
Pacific Sotheby's Int'l Realty
BESbswy