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7380 Blix Street San Diego, CA 92111

3 Beds 2 Baths 1,710 sqft Built 1960

$750,000

List Price

$3,330

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $438.60
  • 3 Days on Market
  • MLS # : 200054263
  • Updated Date : 12/20/2020 at 06:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,710 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,997$3,663$3,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,330
EXPENSES Loan Payment -$2,767
Property Tax -$729
Property Insurance -$70
Property Management Fees -$129
CASH FLOW
-$365

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.

$750,000

PROJECTED PRICE

$3,330

PROJECTED RENT

0.44%

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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$42,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,330

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $3,386

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,3303$3,4754$3,500
$3,500
RENT COMPS ANALYSIS
  • 7380 Blix Street San Diego, CA 2
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,330
    • $1.95
    •  
  • 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
    •  
  • 6841 Boxford Drive San Diego, CA 4
    • 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 1965
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.94
    •  
PROPERTY LISTING DETAILS
Andrea Neumann
1.888.584.9427
Exp Realty Of California Inc
BESbswy