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6738 Salizar Street San Diego, CA 92111

4 Beds 2 Baths 1,590 sqft Built 1962

$749,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1962
  • Price/Sqft : $471.07
  • 12 Days on Market
  • MLS # : 200049729
  • Updated Date : 10/30/2020 at 15:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,590 sqft
  • Baths : 2 full
Listing Agent

Tobin Assoc. And Realtors, Inc

Listing Agent's Description

DON'T BE FOOLED BY THE YEAR THIS HOME WAS BUILT! IT WAS HIGHLY REMODELED IN 2014 WITH ALL DOUBLE PANE WINDOWS AND SLIDING DOOR, 5-YEAR OLD CENTRAL AC/FURNACE, ALL LAMINATE/VYNYL FLOORING , NEST AC CONTROL DIAL, COMLETELY REMODELED BATHROOMS WITH DOUBLE SINKS, BEAUTIFUL BACKYARD WITH DECKS THAT OVER LOOKS THE NEIGHBORHOOD, LARGE COVERED PATIO, VERY UNIQUE CEILING FANS IN BEDROOMS AND FAMILY ROOM, LOTS OF FRUIT TREES IN BACKYARD, AND ABOVE ALL, IT'S LOCATED IN ONE OF SAN DIEGO'S FINEST NEIGHBORHOODS!

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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: Clairemont Mesa East

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $214k621k

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

Neighborhood: Clairemont Mesa East

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $15142982

* 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
Lindbergh Schweitzer Elementary School Primary Magnet 512 25 5
Lindbergh Schweitzer Elementary School Middle Magnet 512 25 5
Madison High School High Regular 1,161 60 5

Lindbergh Schweitzer Elementary School

  • Education Level: Primary
  • # of students: 512
  • # of teachers: 25
5
GreatSchools Rating

Lindbergh Schweitzer Elementary School

  • Education Level: Middle
  • # of students: 512
  • # of teachers: 25
5
GreatSchools Rating

Madison High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 60
5
GreatSchools Rating
 

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

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,763
Property Tax -$728
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$797

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

$2,890

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.4%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 60% 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

1.92

YEARS SAVED

$10,385

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
  • $2,533

    COMP ESTIMATED VALUE
  • $1.59

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,9004$3,200
$3,200
RENT COMPS ANALYSIS
  • 6738 Salizar Street San Diego, CA 1
    • 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5211 Mount Alifan Dr San Diego, CA 2
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1968
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.47
    •  
  • 4171 Balboa Way San Diego, CA 3
    • 4 beds 2 baths ∙ 1,766 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,766 Sqft ∙ Built 1967
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.64
    •  
  • 4164 Balboa Way San Diego, CA 4
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1967 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1967
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.67
    •  
PROPERTY LISTING DETAILS
Asamawari Tobin
1.619.726.6959
Tobin Assoc. And Realtors, Inc
BESbswy