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8552 Harwell Dr San Diego, CA 92119

4 Beds 3 Baths 2,064 sqft Built 1965

$699,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $338.66
  • 19 Days on Market
  • MLS # : 200054842
  • Updated Date : 01/06/2021 at 23:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,064 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc.

Listing Agent's Description

Two-story home in San Carlos! ***Right around the corner from Mission Trails Park, walking distance to several trailheads. ***Entry level bedroom. ***Large glass sliders off the dining room and family room open to the private backyard with canyon views. ***Family room with a floor to ceiling stone fireplace. ***Large Master bedroom with ensuite bathroom and bonus area, great for a home office or reading nook. ***RV Parking! ***A diamond in the rough, ready for some TLC and your own personal touch!

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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: Lake Murray

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $233k746k

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

Neighborhood: Lake Murray

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15663384

* 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
Gage Elementary School Primary Regular 457 17 6
Pershing Middle School Middle Regular 701 32 7
Henry High School High Regular 2,437 97 9

Gage Elementary School

  • Education Level: Primary
  • # of students: 457
  • # of teachers: 17
6
GreatSchools Rating

Pershing Middle School

  • Education Level: Middle
  • # of students: 701
  • # of teachers: 32
7
GreatSchools Rating

Henry High School

  • Education Level: High
  • # of students: 2,437
  • # of teachers: 97
9
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$2,428
Property Tax -$692
Property Insurance -$79
Property Management Fees -$129
CASH FLOW
-$218

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.

$699,000

PROJECTED PRICE

$3,110

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$39,071

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
  • $3,103

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,2004$3,350
$3,350
RENT COMPS ANALYSIS
  • 8552 Harwell Dr San Diego, CA 1
    • 4 beds 3 baths ∙ 2,064 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,064 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7415 Rondel San Carlos, CA 2
    • 3 beds 4 baths ∙ 2,061 Sqft ∙ Built 1981 3 beds 4 baths ∙ 2,061 Sqft ∙ Built 1981
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.46
    •  
  • 7844 Lake Tahoe Ave San Diego, CA 3
    • 4 beds 2 baths ∙ 1,961 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,961 Sqft ∙ Built 1968
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.63
    •  
  • 6919 Birchcreek Rd San Carlos, CA 4
    • 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 1981
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.42
    •  
PROPERTY LISTING DETAILS
Daniel Beer
1.858.755.1999
Exp Realty Of California Inc.
BESbswy