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9160 Hector Avenue San Diego, CA 92123

4 Beds 2 Baths 1,152 sqft Built 1959

$698,500

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $606.34
  • 3 Days on Market
  • MLS # : 200050924
  • Updated Date : 11/06/2020 at 20:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,152 sqft
  • Baths : 2 full
Listing Agent

Kevin Sheedy Realty

Listing Agent's Description

Traditional 4 Bedroom, 2 Bath Home in the sought-after neighborhood of Serra Mesa. You enter this single-story home through the welcoming covered front porch. This home features a 17x12 living room with a brick surround fireplace and large picture window overlooking the front yard, custom made tongue & groove pine paneling and vaulted ceilings. There is a 350 Sq. Ft. enclosed patio room just off the dining area that offers a slider to the back yard and wood shutters.

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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: 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
Juarez Elementary School Primary Regular 207 10 5
Taft Middle School Middle Regular 489 26 5
Kearney High School High Magnet 322 16 6

Juarez Elementary School

  • Education Level: Primary
  • # of students: 207
  • # 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
 

$628,650$768,350$698,500

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,577
Property Tax -$679
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$831

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.

$698,500

PROJECTED PRICE

$2,610

PROJECTED RENT

0.37%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,853

INVESTMENT

$190,853

Down Payment
$174,625
Rehab Estimate
$5,750
Closing Costs
$10,478

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,577

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,625
Loan Amount $523,875
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,038

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 9160 Hector Avenue San Diego, CA
    • 4 beds 2 baths ∙ 1,152 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,152 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Kevin Sheedy
1.619.286.1216
Kevin Sheedy Realty
BESbswy