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9305 Tropico Dr. La Mesa, CA 91941

4 Beds 3 Baths 2,903 sqft Built 1945

$935,000

List Price

$4,250

$4K - $4.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1945
  • Price/Sqft : $322.08
  • 4 Days on Market
  • MLS # : 210003716
  • Updated Date : 02/12/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,903 sqft
  • Baths : 3 full
Listing Agent

Century 21 Award

Listing Agent's Description

What a HOUSE. From the moment you head through the very private, gated entrance and open the front door, you will be in awe of the gorgeous, huge, living room with 20 ft open beam ceilings. The fireplace face has original unpolished granite. The double slider opens to an oasis of California living at its finest. Large paver stone patio with recessed fire pit and large pool/spa. To top it all off, there is a large granny flat consisting of 2 bedrooms, living room and kitchen. Can you say RENTAL INCOME!

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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
 

$841,500$1,028,500$935,000

PURCHASE PRICE

$3,825$4,675$4,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,250
EXPENSES Loan Payment -$3,248
Property Tax -$951
Property Insurance -$100
Property Management Fees -$129
CASH FLOW
-$178

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.

$935,000

PROJECTED PRICE

$4,250

PROJECTED RENT

0.45%

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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

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$253,525

INVESTMENT

$253,525

Down Payment
$233,750
Rehab Estimate
$5,750
Closing Costs
$14,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$3,248

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $233,750
Loan Amount $701,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$66,908

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
  • $5,312

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,500
$5,500
RENT COMPS ANALYSIS
  • 9305 Tropico Dr. La Mesa, CA 1
    • 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 1945 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 1945
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4820 La Cruz Dr La Mesa, CA 2
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1941 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1941
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $1.83
    •  
PROPERTY LISTING DETAILS
Barbara Sharif
1.619.807.4680
Century 21 Award
BESbswy