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7413 Orien Ave. La Mesa, CA 91941

3 Beds 3 Baths 1,848 sqft Built 1963

$800,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $432.90
  • 4 Days on Market
  • MLS # : 200050825
  • Updated Date : 11/05/2020 at 21:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,848 sqft
  • Baths : 2 full , 1 half
Listing Agent

Renovation Realty

Listing Agent's Description

Turn-key home in the hills of La Mesa! Views of La Mesa from the living room and master bedroom. New kitchen with quartz countertops, stainless steel appliances, and white shaker soft-close cabinets. 2 fireplaces to enjoy in both your family & living rooms. 2 newly remodeled bathrooms too. All new exterior & interior paint, new lighting, new flooring in the kitchen, bedrooms & bathrooms. A large backyard with multiple outdoor living spaces, and a huge yard to get creative with! This is a must-see home!

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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: La Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $210k594k

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

Neighborhood: La Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14702885

* 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
La Mesa Dale Elementary School Primary Regular 468 16 6
La Mesa Middle School Middle Regular 950 34 7
Mount Miguel High School High Regular 1,483 68 4

La Mesa Dale Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 16
6
GreatSchools Rating

La Mesa Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 34
7
GreatSchools Rating

Mount Miguel High School

  • Education Level: High
  • # of students: 1,483
  • # of teachers: 68
4
GreatSchools Rating
 

$720,000$880,000$800,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,952
Property Tax -$860
Property Insurance -$74
Property Management Fees -$129
CASH FLOW
-$1,014

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.

$800,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.9%
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

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$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $200,000
Loan Amount $600,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$4,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $3,326

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$3,000
$3,000
RENT COMPS ANALYSIS
  • 7413 Orien Ave. La Mesa, CA 2
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.62
    •  
  • 3440 Hershey St San Diego, CA 1
    • 3 beds 1 baths ∙ 1,501 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,501 Sqft ∙ Built 1951
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.80
    •  
PROPERTY LISTING DETAILS
Kelly Johnson
1.619.341.2534
Renovation Realty
BESbswy