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9250 Camino Paz Lane La Mesa, CA 91941

4 Beds 2 Baths 2,231 sqft Built 1965

$749,900

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $336.13
  • 11 Days on Market
  • MLS # : 210006379
  • Updated Date : 03/20/2021 at 18:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,231 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Rare find in Mt Helix foothills on a quiet, private and maintained lane. Circular driveway and side concreted area allows for many vehicles including a RV. Large backyard is newly fenced and kitchen has been remodeled. Floor safe and all appliances remain. There's an original 416 sq ft. bonus room downstairs and is included in square feet. Elementary school is Murdock. Long-time owners have taken good care of this beauty...pride of ownership!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Casa de Oro - Mount Helix

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650kPrice in $222k682k

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

Neighborhood: Casa de Oro - Mount Helix

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $15143140

* 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
Spring Valley Middle School Middle Regular 506 22 3
Monte Vista High School High Regular 1,657 76 7
Monte Vista High School High Unknown NA

Spring Valley Middle School

  • Education Level: Middle
  • # of students: 506
  • # of teachers: 22
3
GreatSchools Rating

Monte Vista High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 76
7
GreatSchools Rating

Monte Vista High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$674,910$824,890$749,900

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$2,605
Property Tax -$763
Property Insurance -$83
Property Management Fees -$129
CASH FLOW
-$460

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.

$749,900

PROJECTED PRICE

$3,120

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.3%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$25,231

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $3,391

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$3,120
1$3,1202$3,500
$3,500
RENT COMPS ANALYSIS
  • 9250 Camino Paz Lane La Mesa, CA 1
    • 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $1.40
    •  
  • 9324 Carmichael Dr La Mesa, CA 2
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1957 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1957
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.52
    •  
PROPERTY LISTING DETAILS
Ingrid Meno
1.619.788.7930
Berkshire Hathaway Homeservice
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210006379
Last Updated: 03/20/2021
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