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8929 Heraldry St San Diego, CA 92123

4 Beds 3 Baths 1,690 sqft Built 1958

$879,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $520.12
  • 4 Days on Market
  • MLS # : 210005668
  • Updated Date : 03/04/2021 at 21:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,690 sqft
  • Baths : 2 full , 1 half
Listing Agent

Del Coronado Realty

Listing Agent's Description

Stunning Single Level Home with Open Floor Plan. This recently remodeled 4 bedroom/3 full bath home has all of the bells and whistles. Modern kitchen with large island, stainless steel appliances, new cabinets and pantry, upgraded baths with walk in master shower, hardwood floors throughout, AC, water softener, solar, and more. Ample yard for entertaining friends and family. 2 car garage with additional utility room. Pride of ownership shows in every detail!

SEE MORE

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: 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
Wegeforth Elementary School Primary Regular 214 10 5
Taft Middle School Middle Regular 489 26 5
Kearney High School High Magnet 322 16 6

Wegeforth Elementary School

  • Education Level: Primary
  • # of students: 214
  • # of teachers: 10
5
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
 

$791,100$966,900$879,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$3,053
Property Tax -$854
Property Insurance -$70
Property Management Fees -$129
CASH FLOW
-$1,006

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.

$879,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.35%

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

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$238,685

INVESTMENT

$238,685

Down Payment
$219,750
Rehab Estimate
$5,750
Closing Costs
$13,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,053

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $219,750
Loan Amount $659,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,281

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $3,273

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,1003$3,1004$3,495
$3,495
RENT COMPS ANALYSIS
  • 8929 Heraldry St San Diego, CA 3
    • 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.83
    •  
  • 8971 Earhart San Diego, CA 1
    • 4 beds 2 baths ∙ 1,497 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,497 Sqft ∙ Built 1958
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.94
    •  
  • 9002 Keir St San Diego, CA 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1961
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.72
    •  
  • 9141 Ronda Avenue San Diego, CA 4
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1960
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.15
    •  
PROPERTY LISTING DETAILS
Ruth Ann Fisher
1.619.733.4100
Del Coronado Realty
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005668
Last Updated: 03/04/2021
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