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8418 Hovenweep Court San Diego, CA 92129

4 Beds 3 Baths 1,994 sqft Built 1988

$1,150,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $576.73
  • 11 Days on Market
  • MLS # : 210003674
  • Updated Date : 02/21/2021 at 04:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,994 sqft
  • Baths : 3 full
Listing Agent

Eddy Wibowo

Listing Agent's Description

RARE ON THE MARKET, HIGHLY DESIREABLE CRESTMONT NEIGHBOORHOOD. WALKING DISTANCE TO AWARD WINNING PUSD SCHOOLS: DEER CANYON ELEMENTARY SCHOOL. MESA VERDE MIDDLE SCHOOL. WESTVIEW HIGH SCHOOL. 1031 EXCHANGE WITH NO COST TO BUYER.

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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: Bluffs

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $233k798k

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

Neighborhood: Bluffs

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400Rent in $16273411

* 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
Deer Canyon Elementary School Primary Regular 533 20 9
Mesa Verde Middle School Middle Regular 1,273 48 9
Westview High School High Regular 2,283 56 10

Deer Canyon Elementary School

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 20
9
GreatSchools Rating

Mesa Verde Middle School

  • Education Level: Middle
  • # of students: 1,273
  • # of teachers: 48
9
GreatSchools Rating

Westview High School

  • Education Level: High
  • # of students: 2,283
  • # of teachers: 56
10
GreatSchools Rating
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$3,994
Property Tax -$985
Property Insurance -$77
Property Management Fees -$129
CASH FLOW
-$1,916

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,150,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,994

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$112

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
  • $3,305

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8503$2,9804$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 8418 Hovenweep Court San Diego, CA 1
    • 4 beds 3 baths ∙ 1,994 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,994 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7790 Via Belfiore #3 San Diego, CA 2
    • 3 beds 3 baths ∙ 1,682 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,682 Sqft ∙ Built 2004
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.69
    •  
  • 13330 Via Bellarado #6 San Diego, CA 3
    • 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 2003
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.63
    •  
  • 13157 Pageant San Diego, CA 4
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1978
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.63
    •  
  • 9065 Westvale Rd San Diego, CA 5
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1985
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.68
    •  
PROPERTY LISTING DETAILS
Eddy Wibowo
1.858.999.1918
Eddy Wibowo
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210003674
Last Updated: 02/21/2021
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