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818 Hemlock Ave Imperial Beach, CA 91932

4 Beds 2 Baths 1,690 sqft Built 1960

$750,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $443.79
  • 3 Days on Market
  • MLS # : 200053278
  • Updated Date : 12/06/2020 at 00:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,690 sqft
  • Baths : 2 full
Listing Agent

Ralston Team Properties

Listing Agent's Description

Beach living at its best!!! Totally updated single story close to the beach, estuary, and all Imperial Beach has to offer! This home has been re-done top to bottom. Travertine tile and hardwood throughout living areas. Family room has a fireplace. Galley kitchen, with custom backsplash, stainless steel appliances. Front yard is low maintenance turf. Central A/C. Solar panels are paid in full.

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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: Imperial Beach

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Imperial Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
Oneonta Elementary School Primary Regular 563 24 4
Oneonta Elementary School Middle Regular 563 24 4
Mar Vista High School High Regular 1,685 58 4

Oneonta Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 24
4
GreatSchools Rating

Oneonta Elementary School

  • Education Level: Middle
  • # of students: 563
  • # of teachers: 24
4
GreatSchools Rating

Mar Vista High School

  • Education Level: High
  • # of students: 1,685
  • # of teachers: 58
4
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$2,767
Property Tax -$787
Property Insurance -$70
Property Management Fees -$129
CASH FLOW
-$973

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.

$750,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 11.3%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,468

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
  • $2,603

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4503$2,5504$2,5955$2,895
$2,895
RENT COMPS ANALYSIS
  • 818 Hemlock Ave Imperial Beach, CA 1
    • 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1140 Thalia Street San Diego, CA 2
    • 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1976
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.44
    •  
  • 1578 Bubbling Well Dr San Diego, CA 3
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1972
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.62
    •  
  • 820 Hickory Court Imperial Beach, CA 4
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1959
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.44
    •  
  • 1343 Thermal Avenue San Diego, CA 5
    • 4 beds 2 baths ∙ 1,739 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,739 Sqft ∙ Built 1963
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.66
    •  
PROPERTY LISTING DETAILS
Erin Ralston
1.619.417.8082
Ralston Team Properties
BESbswy