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7934 Blue Lake Dr San Diego, CA 92119

4 Beds 3 Baths 2,156 sqft Built 1964

$828,500

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $384.28
  • 5 Days on Market
  • MLS # : 200050772
  • Updated Date : 11/07/2020 at 22:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,156 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

This Beautiful split level San Carlos home is perched on a corner lot. The floor plan features a large living room with fireplace & recessed lighting. Kitchen boasts maple cabinets, granite counters & stainless appliances & opens to the dining room. The upstairs offers 3 bedrooms & 2 nicely updated baths while the lower level offers a oversized family room, 1/2 bath and a 4th bedroom. Upgrades include, owned solar, central heat & A/C, upgraded 200 amp electrical panel, 7 person spa & dual pane windows.

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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: Lake Murray

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $233k746k

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

Neighborhood: Lake Murray

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15663384

* 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
Benchley Weinberger Elementary School Primary Magnet 559 21 9
Pershing Middle School Middle Regular 701 32 7
Henry High School High Regular 2,437 97 9

Benchley Weinberger Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 21
9
GreatSchools Rating

Pershing Middle School

  • Education Level: Middle
  • # of students: 701
  • # of teachers: 32
7
GreatSchools Rating

Henry High School

  • Education Level: High
  • # of students: 2,437
  • # of teachers: 97
9
GreatSchools Rating
 

$745,650$911,350$828,500

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$3,057
Property Tax -$821
Property Insurance -$81
Property Management Fees -$129
CASH FLOW
-$838

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.

$828,500

PROJECTED PRICE

$3,250

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.8%
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-$15k-$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$225,303

INVESTMENT

$225,303

Down Payment
$207,125
Rehab Estimate
$5,750
Closing Costs
$12,428

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,057

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,125
Loan Amount $621,375
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$12,153

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,250
$3,250
RENT COMPS ANALYSIS
  • 7934 Blue Lake Dr San Diego, CA
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.51
    •  
PROPERTY LISTING DETAILS
Thad Ryan
1.619.864.2321
Compass
BESbswy