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PROPERTY INFO
FACTS
- Single Family
- Built In 1971
- Price/Sqft : $424.98
- 7 Days on Market
- MLS # : 210001520
- Updated Date : 01/22/2021 at 20:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,353 sqft
- Baths : 2 full
Listing Agent
M Cubed Properties, Inc.
Listing Agent's Description
Beautiful 3bd/2ba single-story house with 2-car garage in a very nice neighborhood. Engineered hardwood floor. Make this your dream home. Remodeled bathrooms, newer furnace/water heater, nest thermostat, high-efficiency dimmable lights, security system, hardwood front door with speak easy, large island in the kitchen, granite countertops, gas range, large storage shed and backyard fire pit. Extremely easy to maintain landscaping, with lots of room to entertain friends and family. This one will not last!
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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: Skyline
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Skyline
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,210 |
| EXPENSES | Loan Payment | -$1,997 |
| Property Tax | -$560 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$537
|
||
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.
$575,000
PROJECTED PRICE
$2,210
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.15% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.16% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$158,125
LOAN DETAILS
$1,997
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $143,750 |
| Loan Amount | $431,250 |
2.17
YEARS SAVED
$8,167
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,229
COMP ESTIMATED VALUE -
$1.65
COMP AVG. RENT PER SQFT
Comps Range
-
8577 Noeline Ave San Diego, CA 1
- 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1971
- Rent
- Rent Per SQFT
- $0
- $0.00
-
1983 Manzana San Diego, CA 2
- 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1985
LEASED 03/11/20- Rent
- Rent Per SQFT
- $2,400
- $1.62
-
1325 Manzana Way San Diego, CA 3
- 4 beds 3 baths ∙ 1,701 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,701 Sqft ∙ Built 1986
LEASED 12/02/19- Rent
- Rent Per SQFT
- $2,650
- $1.56
-
2408 Manzana Way San Diego, CA 4
- 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1986
LEASED 02/20/20- Rent
- Rent Per SQFT
- $2,700
- $1.70
-
7508 Easthill Dr San Diego, CA 5
- 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1991
LEASED 03/01/20- Rent
- Rent Per SQFT
- $2,795
- $1.71
PROPERTY LISTING DETAILS
1.858.272.9123
M Cubed Properties, Inc.
