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PROPERTY INFO
FACTS
- Single Family
- Built In 1950
- Price/Sqft : $603.88
- 4 Days on Market
- MLS # : 200054862
- Updated Date : 01/02/2021 at 23:39
CONSTRUCTION
- Beds : 4
- Floor Size : 1,290 sqft
- Baths : 2 full
Listing Agent
Home Solutions Group
Listing Agent's Description
WELCOME HOME!!! THIS BEAUTIFUL 4BDRM, 2BTH, LARGE YARD home SHOWS LIKE A MODEL with UPGRADES that include, BRAND NEW: Cabinets, stainless steel appliances, Counter tops, Light Fixtures, Tile, wood floors, windows, landscape, garage door, plumbing fixtures, Paint, water heater, the perks are endless as it also has an added BONUS for the BUYER! (This home has the option to convert the 4th bedroom to a studio, that can be leased out separately from the 3bdrm 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: Imperial Beach
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Imperial Beach
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,690 |
| EXPENSES | Loan Payment | -$2,874 |
| Property Tax | -$817 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$1,190
|
||
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.
$779,000
PROJECTED PRICE
$2,690
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$212,185
LOAN DETAILS
$2,874
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $194,750 |
| Loan Amount | $584,250 |
0.33
YEARS SAVED
$596
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,838
COMP ESTIMATED VALUE -
$2.2
COMP AVG. RENT PER SQFT
Comps Range
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744 Oneonta Imperial Beach, CA 1
- 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1950
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- Rent Per SQFT
- $0
- $0.00
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1228 15th Street Imperial Beach, CA 2
- 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1970
LEASED 02/07/20- Rent
- Rent Per SQFT
- $2,600
- $2.31
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841 15th Street San Diego, CA 3
- 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1958
LEASED 07/01/20- Rent
- Rent Per SQFT
- $2,600
- $2.21
-
1273 Georgia St Imperial Beach, CA 4
- 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1947
LEASED 08/14/20- Rent
- Rent Per SQFT
- $2,700
- $2.25
-
514 Dahlia Ave Imperial Beach, CA 5
- 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1947
LEASED 04/01/20- Rent
- Rent Per SQFT
- $2,800
- $2.03
PROPERTY LISTING DETAILS
1.619.306.6007
Home Solutions Group
