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7629 Seagull Ct San Diego, CA 92123

4 Beds 2 Baths 1,555 sqft Built 1961

$739,900

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $475.82
  • 2 Days on Market
  • MLS # : 200052368
  • Updated Date : 11/22/2020 at 04:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,555 sqft
  • Baths : 2 full
Listing Agent

Re/max City Real Estate

Listing Agent's Description

Charming Home on Quiet Cul-De-Sac in Desirable "Birdland" Neighborhood! Captivating Curb Appeal! Newer Roof, A/C & Forced Heating! Hardwood Floors! (Carpet Just Pulled) Kitchen Has Maple Cabinets & Ceramic Tile Counters & Flooring! Bathrooms w/ Nice Ceramic Tile Upgrades. Large Living Room w/ Rich Custom Shelving, Fireplace w/ Travertine Hearth, Lush Landscaping & Sod in Back! Trellis Patio w/ Custom Brick Accents, Sprinklers in Back. Bonus Room /4th Bedroom Permitted. Owners Took Great Care of this Home

SEE MORE

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: Birdland

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $204k621k

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

Neighborhood: Birdland

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14752982

* 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
Fletcher Elementary School Primary Regular 243 10 8
Montgomery Middle School Middle Regular 475 27 3
Kearney High School High Magnet 322 16 6

Fletcher Elementary School

  • Education Level: Primary
  • # of students: 243
  • # of teachers: 10
8
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
 

$665,910$813,890$739,900

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,730
Property Tax -$719
Property Insurance -$66
Property Management Fees -$129
CASH FLOW
-$624

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.

$739,900

PROJECTED PRICE

$3,020

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.6%
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

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$201,824

INVESTMENT

$201,824

Down Payment
$184,975
Rehab Estimate
$5,750
Closing Costs
$11,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $184,975
Loan Amount $554,925
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$20,061

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
  • $3,219

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4753$3,850
$3,850
RENT COMPS ANALYSIS
  • 7629 Seagull Ct San Diego, CA 1
    • 4 beds 2 baths ∙ 1,555 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,555 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6555 High Knoll Rd San Diego, CA 2
    • 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 3
    • 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
Joseph Caltabellotta
1.858.354.7777
Re/max City Real Estate
BESbswy