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8822 Revelstoke Way San Diego, CA 92126

3 Beds 2 Baths 1,405 sqft Built 1974

$709,500

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $504.98
  • 5 Days on Market
  • MLS # : 210000892
  • Updated Date : 01/15/2021 at 04:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,405 sqft
  • Baths : 2 full
Listing Agent

Abacus Properties Inc.

Listing Agent's Description

Stunning 3-bed/2-bath, 1-story, 1,405sf house with the lot size of 10,000sf in North-East Mira Mesa. The house features laminated wood floors throughout except the tiled kitchen, dining room and 2 bathrooms. Less than 1-year-old new split AC system for every room. 1-year newly owned solar panels on a new roof. All windows are double-paned. Brand new master bathroom. New paint on entire outside of house. This lovely house is close to the community pool, parks, schools, shopping and Freeway I-15 access.

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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: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $225k746k

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

Neighborhood: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14823384

* 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
Ericson Elementary School Primary Regular 738 28 9
Wangenheim Middle School Middle Regular 912 39 7
Mira Mesa High School High Regular 2,453 106 9

Ericson Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 28
9
GreatSchools Rating

Wangenheim Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 39
7
GreatSchools Rating

Mira Mesa High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 106
9
GreatSchools Rating
 

$638,550$780,450$709,500

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$2,464
Property Tax -$694
Property Insurance -$63
HOA -$4
Property Management Fees -$129
CASH FLOW
-$543

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.

$709,500

PROJECTED PRICE

$2,810

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

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

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$193,768

INVESTMENT

$193,768

Down Payment
$177,375
Rehab Estimate
$5,750
Closing Costs
$10,643

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,464

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $177,375
Loan Amount $532,125
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$15,374

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
  • $2,814

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6503$2,6954$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 8822 Revelstoke Way San Diego, CA 1
    • 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8304 Menkar Rd San Diego, CA 2
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1975
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.08
    •  
  • 11374 Pegasus Ave San Diego, CA 3
    • 4 beds 2 baths ∙ 1,366 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,366 Sqft ∙ Built 1977
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.97
    •  
  • 8834 Shaula Way San Diego, CA 4
    • 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1972
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.99
    •  
  • 8630 Cetus Road San Diego, CA 5
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1978
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.97
    •  
PROPERTY LISTING DETAILS
Victor Kung
1.760.715.8496
Abacus Properties Inc.
BESbswy