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8356 Sugarman Dr La Jolla, CA 92037

3 Beds 3 Baths 2,434 sqft Built 1961

INVESTimate

$1,448,000

List Price

$6,480

$6,230 - $6,730

Rent Est.

$1,498,246  ( +3.47%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $594.91
  • 2 Days on Market
  • MLS # : 200041150
  • Updated Date : 08/26/2020 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,434 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

REMODELED February 2020! This single story home features brand new engineered hardwood floors throughout, quartz counter tops, gas range, beautifully refinished kitchen cabinets, interior & exterior paint and a freshly finished driveway. This open floor plan with vaulted ceilings is flooded with natural light beaming through an abundance of windows and skylights. Great mountain and city views. Perfect location, close to U.C.S.D, YMCA and theaters.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: La Jolla Heights

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $240k1583k

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

Neighborhood: La Jolla Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000Rent in $16276370

* 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
Torrey Pines Elementary School Primary Regular 550 21 10
Muirlands Middle School Middle Regular 1,033 41 9
La Jolla High School High Regular 1,588 59 9

Torrey Pines Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 21
10
GreatSchools Rating

Muirlands Middle School

  • Education Level: Middle
  • # of students: 1,033
  • # of teachers: 41
9
GreatSchools Rating

La Jolla High School

  • Education Level: High
  • # of students: 1,588
  • # of teachers: 59
9
GreatSchools Rating
 

$1,303,200$1,592,800$1,448,000

PURCHASE PRICE

$5,832$7,128$6,480

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k$50k$60k$70k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,480
EXPENSES Loan Payment -$5,342
Property Tax -$1,394
Property Insurance -$88
Property Management Fees -$129
CASH FLOW
-$474

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.

$1,448,000

PROJECTED PRICE

$6,480

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.65%
Appreciation Year (1-5) 3.47%
Maintenance Year (1-5) 8.00%
Vacancy 5.45%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$389,470

INVESTMENT

$389,470

Down Payment
$362,000
Rehab Estimate
$5,750
Closing Costs
$21,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$5,342

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $362,000
Loan Amount $1,086,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$107,835

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
  • $7,168

    COMP ESTIMATED VALUE
  • $2.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$6,9003$7,0004$7,2505$7,500
$7,500
RENT COMPS ANALYSIS
  • 8356 Sugarman Dr La Jolla, 1
    • 3 beds 3 baths ∙ 2,434 Sqft ∙ Built 1961 3 beds 3 baths ∙ 2,434 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2765 Inverness Court La Jolla, 2
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1968
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,900
    • $2.68
    •  
  • 8330 Prestwick Drive La Jolla, 3
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 1961
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,000
    • $3.08
    •  
  • 7872 Esterel Drive La Jolla, 4
    • 3 beds 3 baths ∙ 2,259 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,259 Sqft ∙ Built 1968
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,250
    • $3.21
    •  
  • 6729 Avenida Andorra La Jolla, 5
    • 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 1969
    LEASED 05/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $7,500
    • $2.81
    •  
PROPERTY LISTING DETAILS
Jim Mcinerney
1.858.480.9945
Exp Realty Of California Inc
BESbswy