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7305 Fulwood Lane San Diego, CA 92111

4 Beds 2 Baths 1,639 sqft Built 1968

$749,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1968
  • Price/Sqft : $456.99
  • 5 Days on Market
  • MLS # : 200050346
  • Updated Date : 10/31/2020 at 03:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,639 sqft
  • Baths : 2 full
Listing Agent

Harcourts Pinnacle

Listing Agent's Description

Newly renovated 4 Beds, 2 Baths single story home centrally located in the heart of Linda Vista at the end of a cul-de-sac! New upgrades throughout- AC, ceiling fans, Cabinets, S/S Appliances, Carpet/LVP Flooring, lighting, & more. Enjoy an open concept floor plan with the kitchen flowing into the dining room and family/living room. Generous size lot outside featuring a long driveway leading to a two-car garage with a newly tiled pool in the backyard. This home is perfect for entertaining and unwinding!

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: Linda Vista

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $195k621k

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

Neighborhood: Linda Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14072982

* 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
Linda Vista Elementary School Primary Regular 437 22 3
Montgomery Middle School Middle Regular 475 27 3
Kearney High School High Magnet 322 16 6

Linda Vista Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 22
3
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
 

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

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$2,763
Property Tax -$728
Property Insurance -$68
Property Management Fees -$129
CASH FLOW
-$558

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

$3,130

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.3%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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 55% 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

3.42

YEARS SAVED

$25,689

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,130

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $3,322

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,1303$3,4754$3,850
$3,850
RENT COMPS ANALYSIS
  • 7305 Fulwood Lane San Diego, CA 2
    • 4 beds 2 baths ∙ 1,639 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,639 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $1.91
    •  
  • 8971 Earhart San Diego, CA 1
    • 4 beds 2 baths ∙ 1,497 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,497 Sqft ∙ Built 1958
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.94
    •  
  • 6555 High Knoll Rd San Diego, CA 3
    • 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 1980
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,475
    • $2.06
    •  
  • 6733 Fashion Hills Blvd San Diego, CA 4
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1981
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.08
    •  
PROPERTY LISTING DETAILS
Pat Tang
1.858.480.9089
Harcourts Pinnacle
BESbswy