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8845 Polland Ave San Diego, CA 92123

3 Beds 2 Baths 1,592 sqft Built 1957

$849,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $533.29
  • 7 Days on Market
  • MLS # : 200052424
  • Updated Date : 11/26/2020 at 19:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,592 sqft
  • Baths : 2 full
Listing Agent

Harland Realty

Listing Agent's Description

Showings start 11/30. Call listing broker Harland Property Management direct. By far the nicest home in the neighborhood. Renovations have just been completed and include new interior and exterior paint. Brand new matching appliances. Updated kitchen and bathrooms. One of the only homes to have a full privacy fence along the driveway. Low maintenance new turf installed for amazing curb appeal. Brand new vinyl plank flooring which is water and scratch resistant installed. Huge pool with solar heating.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Serra Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $222k641k

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

Neighborhood: Serra Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14212982

* 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
Jones Elementary School Primary Regular 363 13 8
Taft Middle School Middle Regular 489 26 5
Kearney High School High Magnet 322 16 6

Jones Elementary School

  • Education Level: Primary
  • # of students: 363
  • # of teachers: 13
8
GreatSchools Rating

Taft Middle School

  • Education Level: Middle
  • # of students: 489
  • # of teachers: 26
5
GreatSchools Rating

Kearney High School

  • Education Level: High
  • # of students: 322
  • # of teachers: 16
6
GreatSchools Rating
 

$764,100$933,900$849,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$3,132
Property Tax -$825
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
-$1,283

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.

$849,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,132

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$762

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,870

    LIST RENT
  • $1.8

    LIST RENT PER SQFT
  • $3,256

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,870
1$2,8702$2,9003$3,495
$3,495
RENT COMPS ANALYSIS
  • 8845 Polland Ave San Diego, CA 1
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $1.80
    •  
  • 8971 Earhart San Diego, CA 2
    • 4 beds 2 baths ∙ 1,497 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,497 Sqft ∙ Built 1958
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.94
    •  
  • 9141 Ronda Avenue San Diego, CA 3
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1960
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.15
    •  
PROPERTY LISTING DETAILS
Kayvon Homayoun
1.858.367.0343
Harland Realty
BESbswy