$623,000
●
House -
Off Market
8770 Madison
La Mesa, CA 91941
4 Beds
2 Baths
1,514 Ft²
$979,017
RealtyHop Estimate
57.15%
Since Sep 1, 2019
CA-San Diego
Primary Model
About This Property
PAID FOR SOLAR means LOW utility bills!!! Remodeled kitchen
w/quartz countertops, stylish, modern backsplash, recessed
lighting, stainless appliances & flooring. Also features breakfast
nook & bar PLUS formal dining.Hall bath was remodeled. 4 good sized
bedrooms(one has hardwood floors exposed so you can see what is
under the laminate throughout most of the front of the house(back
was added later).New flooring in MBR.Solar/new roof 4 yrs old, 2
car garage was converted into ADU(accesory dwelling) 2 car
detached garage(in ALLEY) was converted into an ADU(accessory
dwelling unit) prior to current seller owning it. Was not converted
with permits(call agent for details or look up recent city
ordinance on ADUS-making it EASIER to get permits) It is
currently a 1 bedroom, 1 bath with living room and has its own
laundry and LARGE patio. Current tenant pays $850 per month however
understands a rent increase is likely and would like to stay. Buyer
can view unit with accepted offer.. Neighborhoods: downtown
Other Fees: 0 Sewer: Sewer Connected Topography: LL
Unit Size
1,514 Ft²
Days on Market
56 days
Land Size
-
Price per sqft
$411
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1944
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Cap Rate Calculator
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 5 months ago (SDMLS #190033497)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 13, 2019 | Sold | ||
| Sold | |||
| Jul 17, 2019 | No longer available | - | |
| No longer available | |||
| Jul 10, 2019 | Price Decreased |
$629,900
↓ $10K
(1.6%) | |
| Price Decreased | |||
| Jul 3, 2019 | Price Decreased |
$639,900
↓ $10K
(1.6%) | |
| Price Decreased | |||
| Jun 27, 2019 | Price Increased |
$650,000
↑ $27K
(4.3%) | |
| Price Increased | |||
Show More
Property Highlights
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About La Mesa
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Listed by: Julie Mills, Best Homes Team
Last Updated: 5 months ago
Data Source: CRMLS, MLS# 190033497
Last Updated: 5 months ago
Data Source: CRMLS, MLS# 190033497
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