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215-17 Southlook Ave
Score
0
San Diego, CA

215-17 Southlook Ave

879K
4 bd • 2 ba • 1,518 sf

This analysis was generated on 2/19/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

0:00
0:00 / 0:00
List Price

$879,000

Price/Sq.Ft

$579

Year Built

1924

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• **Dual Income Potential:** The property features two separate homes on a single lot, offering immediate income potential from renting out both units. This is a significant advantage for investors. • **Remodeled Condition:** The property has been professionally remodeled with new electrical, water pipes, gas lines, LVP flooring, kitchens, and bathrooms. This reduces the need for immediate repairs or upgrades. • **Large Lot Size:** The 6,098 sq. ft. lot is generous for the area and provides ample space for outdoor entertaining and potential future development (ADUs). • **Parking and Storage:** The property features two detached garages and a long driveway, providing ample parking and storage space, a valuable asset in San Diego. • **Location:** The property is located minutes away from downtown, parks, shopping, and restaurants, offering a convenient lifestyle.

The Bad

• **School Ratings:** The nearby schools have very low ratings (2/10 and 3/10). This is a significant drawback for families with children and could impact the property's resale value. • **Price per Square Foot:** At $579.05 per square foot, the property is priced higher than some other areas of San Diego, although it is not dramatically out of line for the general area, especially considering the dual units. Comparing to other multi-unit properties is important. • **Limited Room Details:** The lack of specific room details (sizes, layout) makes it difficult to assess the functionality and flow of the living spaces. A floor plan would be helpful. • **High Estimated Insurance:** The estimated insurance cost of $3,164.4 per year is relatively high, suggesting potential risks associated with the property (age, location, etc.).

The Ugly

• **Significant Price Changes:** The property's listing history shows a dramatic price increase (598.5%) from its previous sale in 2009 ($143,000) to its initial listing price ($998,888), followed by a 12% price reduction to $879,000. This raises questions about the accuracy of the initial listing price and the overall valuation of the property. • **Age of the Property:** Built in 1924, the property is nearly 100 years old. Even with remodeling, older homes can have underlying structural issues or require ongoing maintenance and repairs that are not immediately apparent. • **Potential for Over-Capitalization:** While the remodel appears to be well-done, there is a risk that the upgrades may have over-capitalized the property, meaning that the cost of the renovations may not be fully reflected in the property's market value. This is especially true if the finishes and materials are not in line with the neighborhood's standards.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Investors seeking a property with dual income potential from the main house and the additional unit. The ability to potentially add ADUs to the detached structures further enhances income possibilities. The property's proximity to downtown San Diego adds to its attractiveness for renters. • Buyers interested in a multi-generational living situation, where family members can live independently in the two separate homes on the lot. The fenced separation ensures privacy for each unit. • Individuals who value remodeled homes with modern amenities while retaining the charm of a 1920s Craftsman style. The recent upgrades including new electrical, water pipes, and gas lines offer peace of mind. • Buyers who prefer low-maintenance landscaping. The artificial turf significantly reduces yard work and water consumption.

Not For

• Buyers seeking a large, single-family home with a traditional layout. The property is divided into two separate living spaces, which may not suit those who need a single, large residence. • Families with children who prioritize highly-rated schools. The schools near the property have low ratings (2/10 and 3/10), which may be a concern for some families. • Buyers who prefer a turnkey property with no potential for further renovation or development. The property offers opportunities for ADU development, which may not appeal to those seeking a completely finished home. • Individuals looking for a quiet, secluded neighborhood. The property's proximity to downtown San Diego means it is likely to experience more noise and traffic than more suburban areas.
Demographics
Area Median Income

$49,651

Property History

Price History
Ownership Timeline
$0Cash Purchase
Jan 20, 2023
Jill Goldberg Nadley, Goldberg Living TrustJill Goldberg Nadley
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Dec 26, 2014
Herbert GoldbergHerbert Goldberg, The Goldberg Living Trust
Intrafamily Transfer
Non-Arm's Length Transactions
$143,000Cash Purchase
Oct 7, 2009
Macario H Ramirez, Alicia RamirezHerbert Goldberg
Trustees Deed
Foreclosure
$0Cash Purchase
Dec 18, 2006
Macario H Ramirez, Alicia RamirezMacario H Ramirez, Alicia Ramirez
Intrafamily Transfer
Non-Arm's Length Transactions

Property Taxes

$3,967
2024 Tax Assessment
40.2%from previous year
Assessed Value$320,135
Tax Rate1.24%

Sunlight Analysis

Visualize how sunlight affects this property throughout the day and year.

Sunlight Analysis

Data provided by Shadowmap

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Risk Assessment

Risk Analysis

• **Low-Rated Schools:** The elementary and K-12 schools in the immediate vicinity have very low ratings (2/10). This could significantly impact resale value and desirability, especially for families with children. Researching alternative schooling options (private, charter) would be crucial. • **Price Fluctuation History:** The property's listing history shows a significant price increase (598.5%) followed by a 12% decrease within a short period. This suggests potential pricing instability and could indicate that the initial listing price was overambitious. Further investigation into comparable sales is warranted. • **Age of the Original Structure:** While the property has been remodeled, the original structure is nearly 100 years old (built in 1924). This means there could be hidden maintenance issues or structural concerns that were not fully addressed in the remodel. A thorough inspection is crucial. • **ADU Feasibility:** The listing mentions the potential for converting the detached structures into ADUs. However, this is subject to local zoning regulations and permitting requirements. There is no guarantee that ADUs will be allowed or that the conversion will be cost-effective. Due diligence with the city of San Diego is necessary. • **High Insurance Costs:** The estimated annual insurance cost of $3,164.4 is relatively high. This could be due to the age of the property, its location, or other factors. Obtaining multiple insurance quotes is recommended.
Insurance
Annual Cost

$3,164

$264 per month

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Schools

High Tech Elementary

CharterGrades K-5
5/10
Elementary
399 students

Emerson/bandini Elementary School

PublicGrades K-6
3/10
Elementary
426 students

Memorial Scholars & Athletes School

PublicGrades 6-8
3/10
Middle
416 students

Ingenuity Charter

CharterGrades 6-12
2/10
MiddleHigh
211 students

Financials

Monthly Costs
Market Rent (4 bed)

$3,988

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$879,000
Price/sqft
$579
Layout
4 bd2 ba
Days on market
34 daysat time of analysis

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$693,167

26.8%

Your price is 26.8% above average

Median Price

$725,000

21.2%

Based on 6 recent sales

Price per Sq.Ft

$478

21.1%

Your price is 21.1% above average $/sqft

Comparable Properties

259-261 39th St, Logan Heights, CA 92113
Price: $820,000
Sq.Ft: 1,617
Beds/Baths: 5/2
$/Sq.Ft:
$50712.4%
Sale Date: 12/21/2024
727 Toyne St, San Diego, CA 92102
Price: $725,000
Sq.Ft: 1,241
Beds/Baths: 3/2
$/Sq.Ft:
$5840.9%
Sale Date: 12/5/2024
845 Raven Street, San Diego, CA 92102
Price: $670,000
Sq.Ft: 1,302
Beds/Baths: 4/2
$/Sq.Ft:
$51511.1%
Sale Date: 11/7/2024
1035 S 39th Street, San Diego, CA 92113
Price: $619,000
Sq.Ft: 1,360
Beds/Baths: 4/2
$/Sq.Ft:
$45521.4%
Sale Date: 10/23/2024
3552 Ocean View Blvd, Logan Heights, CA 92113
Price: $560,000
Sq.Ft: 1,631
Beds/Baths: 5/2
$/Sq.Ft:
$34340.7%
Sale Date: 10/5/2024
729 31 Toyne St, San Diego, CA 92102
Price: $765,000
Sq.Ft: 1,640
Beds/Baths: 5/2
$/Sq.Ft:
$46619.4%
Sale Date: 9/9/2024

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