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9340 Wister Drive La Mesa, CA 91941

4 Beds 3 Baths 2,481 sqft Built 1974

$849,000

List Price

$3,750

$3.5K - $4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $342.20
  • 14 Days on Market
  • MLS # : 200051929
  • Updated Date : 11/17/2020 at 21:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,481 sqft
  • Baths : 3 full
Listing Agent

Tracey Stotz, Broker

Listing Agent's Description

Built in the shed architectural style, this unique home feels warm and spacious. Views and natural light are in every room of the home. The centerpiece is a large living room with a dramatic 12ft fireplace and wet bar. The dining room opens to a large deck for indoor/outdoor entertaining. Master has separate office, huge closet and private deck. Additional craft room with storage. First floor in-laws quarters. Eat-in kitchen has double ovens and island with prep sink. Fenced yard is flat with fruit trees.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Glen E Murdock Elementary School Primary Regular 730 24 9
Glen E Murdock Elementary School Middle Regular 730 24 9
Grossmont High School High Regular 2,394 92 7

Glen E Murdock Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 24
9
GreatSchools Rating

Glen E Murdock Elementary School

  • Education Level: Middle
  • # of students: 730
  • # of teachers: 24
9
GreatSchools Rating

Grossmont High School

  • Education Level: High
  • # of students: 2,394
  • # of teachers: 92
7
GreatSchools Rating
 

$764,100$933,900$849,000

PURCHASE PRICE

$3,375$4,125$3,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,750
EXPENSES Loan Payment -$3,132
Property Tax -$809
Property Insurance -$90
Property Management Fees -$129
CASH FLOW
-$410

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.

$849,000

PROJECTED PRICE

$3,750

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$3,132

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$48,516

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
  • $3,771

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,500
$3,500
RENT COMPS ANALYSIS
  • 9340 Wister Drive La Mesa, CA 1
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 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
Tracey Stotz
1.619.200.0918
Tracey Stotz, Broker
BESbswy