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7531 Alonda Way San Diego, CA 92126

3 Beds 2 Baths 1,680 sqft Built 1972

$699,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $416.07
  • 5 Days on Market
  • MLS # : 210005513
  • Updated Date : 03/04/2021 at 22:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

The Avenue Home Collective

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: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $225k746k

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

Neighborhood: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14823384

* 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
Sandburg Elementary School Primary Regular 781 27 9
Challenger Middle School Middle Regular 990 39 9
Mira Mesa High School High Regular 2,453 106 9

Sandburg Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 27
9
GreatSchools Rating

Challenger Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 39
9
GreatSchools Rating

Mira Mesa High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 106
9
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$2,428
Property Tax -$684
Property Insurance -$69
Property Management Fees -$129
CASH FLOW
-$370

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$699,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$26,424

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
  • $3,230

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7003$2,7504$2,7755$3,500
$3,500
RENT COMPS ANALYSIS
  • 7531 Alonda Way San Diego, CA 1
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7183 Canyon Hill Way San Diego, CA 2
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1984
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.93
    •  
  • 10263 Baroness Avenue San Diego, CA 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.90
    •  
  • 11067 Alonda Court San Diego, CA 4
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1986
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $1.99
    •  
  • 10845 New Salem Way San Diego, CA 5
    • 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 1985
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.87
    •  
PROPERTY LISTING DETAILS
Deven Ortiz
1.760.420.1284
The Avenue Home Collective
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005513
Last Updated: 03/04/2021
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