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8043 Roy St Lemon Grove, CA 91941

3 Beds 2 Baths 840 sqft Built 1952

$549,900

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $654.64
  • 3 Days on Market
  • MLS # : 210000567
  • Updated Date : 01/08/2021 at 23:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 840 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Beautifully upgraded 3 bed, 2 bath home in Lemon Grove. Gorgeous kitchen features white shaker cabinets, quartz countertops with custom tile backsplash, stainless steel appliances, recessed lighting, hardware and fixtures. Laminate floors flow through common areas. Fresh interior and exterior paint, AC, ceiling fans and new carpet in bedrooms. Features a spacious yard and outdoor laundry hook ups. Walking distance from Golden Avenue Elementary and Lemon Grove Middle School. Close to shops and freeways.

SEE MORE

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: Lemon Grove

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Lemon Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12812885

* 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
Lemon Grove Academy For The Sciences And Humanities Primary Regular 1,244 51 6
Lemon Grove Academy For The Sciences And Humanities Middle Regular 1,244 51 6
Mount Miguel High School High Regular 1,483 68 4

Lemon Grove Academy For The Sciences And Humanities

  • Education Level: Primary
  • # of students: 1,244
  • # of teachers: 51
6
GreatSchools Rating

Lemon Grove Academy For The Sciences And Humanities

  • Education Level: Middle
  • # of students: 1,244
  • # of teachers: 51
6
GreatSchools Rating

Mount Miguel High School

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

$494,910$604,890$549,900

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,910
Property Tax -$644
Property Insurance -$48
Property Management Fees -$129
CASH FLOW
-$451

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$549,900

PROJECTED PRICE

$2,280

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$10,684

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
  • $2,103

    COMP ESTIMATED VALUE
  • $2.5

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3003$2,5004$2,800
$2,800
RENT COMPS ANALYSIS
  • 8043 Roy St Lemon Grove, CA 1
    • 3 beds 2 baths ∙ 840 Sqft ∙ Built 1952 3 beds 2 baths ∙ 840 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3418 Fairway Dr La Mesa, CA 2
    • 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1952
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.28
    •  
  • 1505 Folkestone Street Spring Valley, CA 3
    • 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1960
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.45
    •  
  • 2202 Morose Street Lemon Grove, CA 4
    • 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1955
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.78
    •  
PROPERTY LISTING DETAILS
Judi Reimer
1.310.948.5755
First Team Real Estate
BESbswy