Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6823 Carthage St San Diego, CA 92120

2 Beds 2 Baths 1,096 sqft Built 1956

$699,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $637.77
  • 3 Days on Market
  • MLS # : 200053281
  • Updated Date : 12/04/2020 at 22:58
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,096 sqft
  • Baths : 2 full
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

Welcome home! Beautifully remodeled 2 bedroom 2 bathroom in the desirable Allied Gardens neighborhood. Enjoy Canyon views from multiple areas of the house, including the master suite. New wood like laminate flooring. Modern kitchen with new cabinetry, quartz countertops, and new stainless steel appliances. Walk in closet and dual sinks in master suite. Natural light throughout. Close proximity to the 8 and 15 freeways, Mission Trails, shopping, restaurants, and more!

SEE MORE

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: 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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$2,579
Property Tax -$679
Property Insurance -$55
Property Management Fees -$129
CASH FLOW
-$1,172

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.

$699,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.6%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$137

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
  • $2,115

    COMP ESTIMATED VALUE
  • $1.93

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$2,150
$2,150
RENT COMPS ANALYSIS
  • 6823 Carthage St San Diego, CA 1
    • 2 beds 2 baths ∙ 1,096 Sqft ∙ Built 1956 2 beds 2 baths ∙ 1,096 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5483 Adobe Falls Rd #16 San Diego, CA 2
    • 2 beds 2 baths ∙ 884 Sqft ∙ Built 1973 2 beds 2 baths ∙ 884 Sqft ∙ Built 1973
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.98
    •  
  • 5442 Adobe Falls Road #10 San Diego, CA 3
    • 2 beds 2 baths ∙ 1,144 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,144 Sqft ∙ Built 1973
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.88
    •  
PROPERTY LISTING DETAILS
Erick Gydesen
1.858.430.8200
Big Block Realty, Inc.
BESbswy