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7060 Arillo St San Diego, CA 92111

3 Beds 3 Baths 1,150 sqft Built 1961

$799,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $694.78
  • 4 Days on Market
  • MLS # : 200054824
  • Updated Date : 01/03/2021 at 00:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,150 sqft
  • Baths : 3 full
Listing Agent

24/7 Realty Inc

Listing Agent's Description

Spectacular 3 bed 2 bath single-story home on a quiet cul-de-sac with a detached ADU. Main house is 1150sqft & features an open floorplan, natural light, updated kitchen, stainless steel appliances, luxury vinyl plank flooring, tankless water heater, new dual pane windows, and a large yard with RV parking. Make this an investment property by renting out the ADU that features a full bath and attached 1-car garage or it can be perfect for in-laws. Safe family-oriented neighborhood with free street parking.

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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: 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
Ross Elementary School Primary Regular 327 12 4
Montgomery Middle School Middle Regular 475 27 3
Kearney High School High Magnet 322 16 6

Ross Elementary School

  • Education Level: Primary
  • # of students: 327
  • # of teachers: 12
4
GreatSchools Rating

Montgomery Middle School

  • Education Level: Middle
  • # of students: 475
  • # of teachers: 27
3
GreatSchools Rating

Kearney High School

  • Education Level: High
  • # of students: 322
  • # of teachers: 16
6
GreatSchools Rating
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,948
Property Tax -$776
Property Insurance -$76
Property Management Fees -$129
CASH FLOW
-$730

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.

$799,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.40%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$17,743

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
  • $3,832

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4753$3,825
$3,825
RENT COMPS ANALYSIS
  • 7060 Arillo St San Diego, CA 1
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6555 High Knoll Rd San Diego, CA 2
    • 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1980
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,475
    • $2.06
    •  
  • 4640 Huron Ave San Diego, CA 3
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1953 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1953
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,825
    • $1.85
    •  
PROPERTY LISTING DETAILS
Laura Foss
1.619.928.1611
24/7 Realty Inc
BESbswy