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7950 El Capitan Dr La Mesa, CA 91942

4 Beds 2 Baths 1,541 sqft Built 1947

$810,000

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1947
  • Price/Sqft : $525.63
  • 5 Days on Market
  • MLS # : 200050275
  • Updated Date : 11/02/2020 at 20:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,541 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Beautifully remodeled 4 bedroom, 2 bath home walking distance to La Mesa Village with 360 views! This bright & open floor plan features a remodeled kitchen w/ quartz counters & SS appliances, completely updated bathrooms, new AC & heat, laminate flooring, newly painted, & all new plumbing and electrical throughout home! Also includes new dual pane windows, attached 1 car garage, and fireplace. One of the only homes listed in this sought after location!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: La Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $210k594k

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

Neighborhood: La Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14702885

* 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
Rolando Elementary School Primary Regular 561 18 4
La Mesa Middle School Middle Regular 950 34 7
Mount Miguel High School High Regular 1,483 68 4

Rolando Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 18
4
GreatSchools Rating

La Mesa Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 34
7
GreatSchools Rating

Mount Miguel High School

  • Education Level: High
  • # of students: 1,483
  • # of teachers: 68
4
GreatSchools Rating
 

$729,000$891,000$810,000

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$2,989
Property Tax -$845
Property Insurance -$66
Property Management Fees -$129
CASH FLOW
-$1,338

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.

$810,000

PROJECTED PRICE

$2,690

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.9%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$220,400

INVESTMENT

$220,400

Down Payment
$202,500
Rehab Estimate
$5,750
Closing Costs
$12,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $202,500
Loan Amount $607,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $3,217

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,6903$2,7004$2,7505$3,895
$3,895
RENT COMPS ANALYSIS
  • 7950 El Capitan Dr La Mesa, CA 2
    • 4 beds 2 baths ∙ 1,541 Sqft ∙ Built 1947 4 beds 2 baths ∙ 1,541 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $1.75
    •  
  • 8830 Fabienne Way La Mesa, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1963
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.92
    •  
  • 4108 Casita Way San Diego, CA 3
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1960
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.04
    •  
  • 7170 Hybeth Drive La Mesa, CA 4
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1953
    LEASED 05/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.20
    •  
  • 6122 Nagel St La Mesa, CA 5
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1953
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $2.19
    •  
PROPERTY LISTING DETAILS
Ben Kauffman
1.619.565.4909
Berkshire Hathaway Homeservice
BESbswy