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718 5th Street Imperial Beach, CA 91932

2 Beds 1 Baths 924 sqft Built 1941

$655,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1941
  • Price/Sqft : $708.87
  • 4 Days on Market
  • MLS # : 200050458
  • Updated Date : 11/01/2020 at 14:40
CONSTRUCTION
  • Beds : 2
  • Floor Size : 924 sqft
  • Baths : 1 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

5 Blocks to beach! Well loved and maintained beach home! Both bedrooms roomy size. Beautiful hardwood floors. Lots of windows and natural light. Bathroom remodeled. Floor plan open. Dining room french doors open onto large patio 25 K in yard improvements pavers, astro turf, river rocks, fenced in and private yards. Front yard newly landscaped with sprinklers. lot size is 12,600 ready for an ADU in the back designated clear lot. 5th street has large lots, land and location!

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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: Imperial Beach

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Imperial Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
Imperial Beach Elementary School Primary Regular 921 38 6
Imperial Beach Elementary School Middle Regular 921 38 6
Mar Vista High School High Regular 1,685 58 4

Imperial Beach Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 38
6
GreatSchools Rating

Imperial Beach Elementary School

  • Education Level: Middle
  • # of students: 921
  • # of teachers: 38
6
GreatSchools Rating

Mar Vista High School

  • Education Level: High
  • # of students: 1,685
  • # of teachers: 58
4
GreatSchools Rating
 

$589,500$720,500$655,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$2,417
Property Tax -$687
Property Insurance -$50
Property Management Fees -$129
CASH FLOW
-$1,093

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$655,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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

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$179,325

INVESTMENT

$179,325

Down Payment
$163,750
Rehab Estimate
$5,750
Closing Costs
$9,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,417

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $163,750
Loan Amount $491,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $2.37

    LIST RENT PER SQFT
  • $2,365

    COMP ESTIMATED VALUE
  • $2.56

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1753$2,1904$2,195
$2,195
RENT COMPS ANALYSIS
  • 718 5th Street Imperial Beach, CA 3
    • 2 beds 1 baths ∙ 924 Sqft ∙ Built 1941 2 beds 1 baths ∙ 924 Sqft ∙ Built 1941
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $2.37
    •  
  • 1027 Emory St Imperial Beach, CA 1
    • 2 beds 1 baths ∙ 850 Sqft ∙ Built 1954 2 beds 1 baths ∙ 850 Sqft ∙ Built 1954
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $2.47
    •  
  • 961 Calla Avenue Imperial Beach, CA 2
    • 2 beds 1 baths ∙ 780 Sqft ∙ Built 1958 2 beds 1 baths ∙ 780 Sqft ∙ Built 1958
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $2.79
    •  
  • 919 Florida St Imperial Beach, CA 4
    • 2 beds 1 baths ∙ 906 Sqft ∙ Built 1960 2 beds 1 baths ∙ 906 Sqft ∙ Built 1960
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $2.42
    •  
PROPERTY LISTING DETAILS
Connie Kenny
1.619.993.6918
Berkshire Hathaway Homeservice
BESbswy