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7216 Viar Avenue San Diego, CA 92120

3 Beds 2 Baths 2,016 sqft Built 1965

$939,900

List Price

$3,410

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $466.22
  • 114 Days on Market
  • MLS # : 210007726
  • Updated Date : 03/27/2021 at 20:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,016 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Beautifully updated 3 bed, 2 bath home ideally located on a Cul de Sac in the highly sought after Princess Del Cerro neighborhood. The home features paid solar, new kitchen cabinets, new quartz countertops, new luxury vinyl plank flooring, new epoxy garage floor, dual pane windows, skylights, ceiling fans, central heat & air, newer updated bathrooms, walk-in closets, separate office, home theater room with cozy fireplace, large living room and family room that open up to the huge backyard. The yard features several patio areas ideal for entertaining family or friends. The property has room for your future ideas & projects.

SEE MORE

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: 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
Marvin Elementary School Primary Regular 404 16 10
Lewis Middle School Middle Regular 1,042 41 7
Henry High School High Regular 2,437 97 9

Marvin Elementary School

  • Education Level: Primary
  • # of students: 404
  • # of teachers: 16
10
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
 

$845,910$1,033,890$939,900

PURCHASE PRICE

$3,069$3,751$3,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,410
EXPENSES Loan Payment -$3,265
Property Tax -$913
Property Insurance -$78
Property Management Fees -$129
CASH FLOW
-$975

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.

$939,900

PROJECTED PRICE

$3,410

PROJECTED RENT

0.36%

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$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$254,824

INVESTMENT

$254,824

Down Payment
$234,975
Rehab Estimate
$5,750
Closing Costs
$14,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,265

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $234,975
Loan Amount $704,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$8,974

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
  • $3,745

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1003$3,2004$3,6755$3,950
$3,950
RENT COMPS ANALYSIS
  • 7216 Viar Avenue San Diego, CA 1
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1965 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5673 Barclay Ave San Diego, CA 2
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1957
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.80
    •  
  • 5363 West Falls View Drive San Diego, CA 3
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1952
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.66
    •  
  • 5586 Hamill Ave San Diego, CA 4
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1956
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,675
    • $2.04
    •  
  • 7464 Comet View Ct San Diego, CA 5
    • 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1973
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.93
    •  
PROPERTY LISTING DETAILS
Marguerite Apostolas
1.619.405.4958
Exp Realty Of California Inc
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210007726
Last Updated: 03/27/2021
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