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9130 Golondrina Dr 
La Mesa, CA
91941
3 Beds 2 Baths 1,488 sqft
Built 1968
INVESTimate
$649,000
List Price
$177,735
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PROPERTY INFO
FACTS
- Built In 1968
- Price/Sqft : $436.16
- 2 Days on Market
- MLS # : 200041203
- Updated Date : 08/26/2020 at 08:56
CONSTRUCTION
- Beds : 3
- Floor Size : 1,488 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker West
Listing Agent's Description
A charming opportunity to own in La Mesa. This is a 3 bedroom, 2 full bathrooms and has great bones with a NEW roof less than a year old and NEW heating and air conditioning. A bright and light sun room. Large yard, covered brick patio, and expansive grass area. Plenty of parking including potential RV parking. This home is ready for your special touch and custom style. Great location with easy freeway access and close to shopping. Located just minutes from La Mesa Village and Grossmont Center.
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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: Casa de Oro - Mount Helix
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Casa de Oro - Mount Helix
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,850 |
| EXPENSES | Loan Payment | -$2,395 |
| Property Tax | -$669 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$407
|
||
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.
$649,000
PROJECTED PRICE
$2,850
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 5.26% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.80% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$177,735
LOAN DETAILS
$2,395
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $162,250 |
| Loan Amount | $486,750 |
4.08
YEARS SAVED
$28,410
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,850
LIST RENT -
$1.92
LIST RENT PER SQFT
-
$3,090
COMP ESTIMATED VALUE -
$2.08
COMP AVG. RENT PER SQFT
Comps Range
-
9130 Golondrina Dr La Mesa, 3
- 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1968
- Rent
- Rent Per SQFT
- $2,850
- $1.92
-
8779 Van Horn La Mesa, 1
- 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1975
LEASED 06/13/19- Rent
- Rent Per SQFT
- $2,750
- $1.85
-
8950 Linden La Mesa, 2
- 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1950
LEASED 03/13/19- Rent
- Rent Per SQFT
- $2,795
- $2.25
-
727 Live Oak El Cajon, 4
- 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1952
LEASED 03/18/19- Rent
- Rent Per SQFT
- $3,000
- $2.13
PROPERTY LISTING DETAILS
1.619.933.2659
Coldwell Banker West
