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9375 Loren Dr. La Mesa, CA 91942

3 Beds 2 Baths 1,817 sqft Built 1959

$810,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $445.79
  • 14 Days on Market
  • MLS # : 210003401
  • Updated Date : 02/18/2021 at 16:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,817 sqft
  • Baths : 2 full
Listing Agent

Century 21 Award

Listing Agent's Description

Beautiful classic updated one story home in coveted Grossmont Hills. Private setting on large lot w/pool & spa, lots of room for entertaining. Oversized living room w/Teak Floors, kitchen w/granite counters, stainless steel appliances & sink, wine fridg. Dual pane windows & sliding doors, RV parking at side of garage w/220 & gas, low maintenance landscaping, tile floors, Solar attic fan,Solar panels are owned, close to Harry Griffin Park, close to shopping, good school district.Pro Pictures coming Tuesday

SEE MORE

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

Zip Code: 91942

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $198k594k

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

Zip Code: 91942

ZipNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14692885

* 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
Parkway Middle School Middle Regular 737 26 7
Grossmont High School High Regular 2,394 92 7
Grossmont High School High Unknown NA

Parkway Middle School

  • Education Level: Middle
  • # of students: 737
  • # of teachers: 26
7
GreatSchools Rating

Grossmont High School

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

Grossmont High School

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

$729,000$891,000$810,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,813
Property Tax -$870
Property Insurance -$73
Property Management Fees -$129
CASH FLOW
-$686

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.

$810,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.2%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$220,400

INVESTMENT

$220,400

Down Payment
$202,500
Rehab Estimate
$5,750
Closing Costs
$12,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,813

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $202,500
Loan Amount $607,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,971

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
  • $3,570

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,895
$3,895
RENT COMPS ANALYSIS
  • 9375 Loren Dr. La Mesa, CA 1
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1159 Benjamin Pl El Cajon, CA 2
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1967
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
  • 6122 Nagel St La Mesa, CA 3
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1953
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $2.19
    •  
PROPERTY LISTING DETAILS
Janet Layton
1.619.820.1094
Century 21 Award
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210003401
Last Updated: 02/18/2021
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