San Diego Rents - 12th highest

Some good info in this piece.

I can use these baselines for figuring:

Zumper said the median rent for a one-bedroom in San Diego was $1,590 a month, up 6 percent in a year, and $2,160 a month for a two-bedroom, up 6.4 percent in a year.


http://www.sandiegouniontribune.com/business/real-estate/sd-fi-san-diego-renters-20170502-story.html

simple cashflow

Duplex in Central San Diego

For my initial post I pick a nearby duplex. I'll leave the address secret for now but anyone curious enough to dig can probably find it.   The basic questions for now:

1. Will this cash flow?
2. Can it be flipped?

Here are the pertinent details.

$700K asking price
Our agent thinks we should go in at $680K
3/1 + 3/1
Actual rent $1600+ 1600 = $3200 total


The "projected rent" for each side is $2000 or $4000/mo total.

OK worst case scenario - 100% financed

Loan 1: 25% down from a HELOC  or 2nd or cashout
$170K at 4.65% , 30 years = $ 876.58/mo

Loan 2: 
$510 K at  4.25% 30 years = $2508.89

Total rent:  $3200
-Total loans:  $3385.47
= - 185.47

and surprisingly this isn't terrible. Even at fully financed.



ref:
simple loan calculator

Welcome to Flip this San Diego

Welcome.

I created this blog as a way to keep me busy with two things I enjoy:
Real Estate
Blogging

I will be studying various properties within San Diego and doing a simple analysis of the finance. Is this a good property to buy and flip? Or even buy and hold? VRBO ?

I have few constraints and will try and make a game out of it. Enjoy.