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9423 Haley Ln La Mesa, CA 91941

5 Beds 3 Baths 2,949 sqft Built 1974

$850,000

List Price

$3,600

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $288.23
  • 5 Days on Market
  • MLS # : 200054801
  • Updated Date : 12/30/2020 at 23:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,949 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful well maintained home located in the foothills of Mt Helix. Great backyard space perfect for hosting, including a pool, spa, huge deck, & covered patio for outdoor living. The home highlights 3 bedrooms on the main floor, 2 down, hardwood laminate throughout the spacious living areas, skylights, ceiling fans, a formal dining room, 2 grand fireplaces, & an open kitchen with granite counters dual ovens, & recessed lighting! The downstairs could be converted into a possible accessory dwelling unit.

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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: 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
Monte Vista High School High Regular 1,657 76 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

Monte Vista High School

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

$765,000$935,000$850,000

PURCHASE PRICE

$3,240$3,960$3,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$3,136
Property Tax -$865
Property Insurance -$101
Property Management Fees -$129
CASH FLOW
-$631

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.

$850,000

PROJECTED PRICE

$3,600

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$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$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$28,898

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
  • $3,185

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,000
$3,000
RENT COMPS ANALYSIS
  • 9423 Haley Ln La Mesa, CA 1
    • 5 beds 3 baths ∙ 2,949 Sqft ∙ Built 1974 5 beds 3 baths ∙ 2,949 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8907 Mariposa St. La Mesa, CA 2
    • 5 beds 3 baths ∙ 2,777 Sqft ∙ Built 1962 5 beds 3 baths ∙ 2,777 Sqft ∙ Built 1962
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.08
    •  
PROPERTY LISTING DETAILS
Charles Wheeler
1.267.242.7565
Redfin Corporation
BESbswy