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8245 Solana St San Diego, CA 92114

3 Beds 3 Baths 1,630 sqft Built 1953

$525,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $322.09
  • 3 Days on Market
  • MLS # : 210002446
  • Updated Date : 01/30/2021 at 18:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,630 sqft
  • Baths : 3 full
Listing Agent

Krc Realty, Inc.

Listing Agent's Description

The great first time buyer opportunity or flip. All the internals have been redone. Plumbing electrical roof and kitchen. Huge upside potential with just cosmetic fixes.

SEE MORE

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: Jamacha Lomita

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $173k621k

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

Neighborhood: Jamacha Lomita

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13272982

* 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
Bell Middle School Middle Regular 912 44 3
Morse High School High Regular 1,808 83 5
Bell Middle School Middle Unknown NA

Bell Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 44
3
GreatSchools Rating

Morse High School

  • Education Level: High
  • # of students: 1,808
  • # of teachers: 83
5
GreatSchools Rating

Bell Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$1,824
Property Tax -$510
Property Insurance -$68
Property Management Fees -$129
CASH FLOW
$469

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.

$525,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

11.92

YEARS SAVED

$96,998

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
  • $3,545

    COMP ESTIMATED VALUE
  • $2.18

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$4,000
$4,000
RENT COMPS ANALYSIS
  • 8245 Solana St San Diego, CA 1
    • 4 beds 2 baths ∙ 1,630 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,630 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 110 Sears Ave San Diego, CA 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1969
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.67
    •  
  • 8871 Kelburn Ave Spring Valley, CA 3
    • 4 beds 3 baths ∙ 1,495 Sqft ∙ Built 1960 4 beds 3 baths ∙ 1,495 Sqft ∙ Built 1960
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.68
    •  
PROPERTY LISTING DETAILS
David Keefe
1.619.246.5792
Krc Realty, Inc.
BESbswy