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PROPERTY INFO
FACTS
- Single Family
- Built In 1976
- Price/Sqft : $332.59
- 3 Days on Market
- MLS # : 200054301
- Updated Date : 12/19/2020 at 19:51
CONSTRUCTION
- Beds : 5
- Floor Size : 2,255 sqft
- Baths : 3 full
Listing Agent
Dolan Realty Company
Listing Agent's Description
This gorgeous home is located in the desirable Mira Mesa neighborhood on a quiet cul de sac! Its popular and functional floor plan boasts 3 bedrooms downstairs, and a large loft and 2 bedrooms upstairs - can easily be customized to your needs. The backyard has a large sparkling pool! Great opportunity, don’t miss out!!!
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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: Mira Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mira Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,450 |
| EXPENSES | Loan Payment | -$2,767 |
| Property Tax | -$734 | |
| Property Insurance | -$84 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$264
|
||
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.
$749,995
PROJECTED PRICE
$3,450
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,499
LOAN DETAILS
$2,767
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $187,499 |
| Loan Amount | $562,496 |
5.33
YEARS SAVED
$49,946
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,450
LIST RENT -
$1.53
LIST RENT PER SQFT
-
$3,653
COMP ESTIMATED VALUE -
$1.62
COMP AVG. RENT PER SQFT
Comps Range
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7914 Merrington San Diego, CA 2
- 5 beds 3 baths ∙ 2,255 Sqft ∙ Built 1976 5 beds 3 baths ∙ 2,255 Sqft ∙ Built 1976
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- Rent
- Rent Per SQFT
- $3,450
- $1.53
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11235 Caminito Inocenta San Diego, CA 1
- 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 1991
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LEASED 06/20/19- Rent
- Rent Per SQFT
- $3,395
- $1.57
-
7840 Pipit Place San Diego, CA 3
- 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 1994
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LEASED 07/15/20- Rent
- Rent Per SQFT
- $3,700
- $1.62
-
7414 Park Village Road San Diego, CA 4
- 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 1995
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LEASED 03/02/20- Rent
- Rent Per SQFT
- $3,800
- $1.67
PROPERTY LISTING DETAILS
1.858.705.8397
Dolan Realty Company
