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1024 Neptune Chula Vista, CA 91911

4 Beds 2 Baths 1,700 sqft Built 1960

$799,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $470.00
  • 6 Days on Market
  • MLS # : 210006776
  • Updated Date : 03/16/2021 at 19:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Titan Pacific Group Inc

Listing Agent's Description

Amazing VIEW from this newly REMODELED & UPDATED 1,700 square-foot, 4-bed / 2-bath 1-story home in Chula Vista that is bright and spacious. Boasting truly breathtaking panoramic views, this home has been completely remodeled and upgraded. Comes fully equipped with newer HVAC system, new flooring throughout, quartz counters and newer appliances in the kitchen, spacious living room with fireplace, and a HUGE 7,700 square foot backyard with fantastic PANORAMIC VIEWS of the Coronado Bridge, Harbor, and Downtown Skyline. A perfect home for entertaining inside and out. Don’t miss out on this fantastic home at a great price in a great Chula Vista neighborhood.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Castle Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Castle Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12522926

* 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
Hilltop Middle School Middle Magnet 1,132 44 4
Hilltop High School High Magnet 2,174 80 7

Hilltop Middle School

  • Education Level: Middle
  • # of students: 1,132
  • # of teachers: 44
4
GreatSchools Rating

Hilltop High School

  • Education Level: High
  • # of students: 2,174
  • # of teachers: 80
7
GreatSchools Rating
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,775
Property Tax -$756
Property Insurance -$70
Property Management Fees -$129
CASH FLOW
-$1,370

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$799,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$79

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,360

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $2,342

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3603$2,5004$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 1024 Neptune Chula Vista, CA 2
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.39
    •  
  • 102 E Orlando St Chula Vista, CA 1
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1961
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.45
    •  
  • 1047 Guatay Chula Vista, CA 3
    • 4 beds 3 baths ∙ 1,894 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,894 Sqft ∙ Built 1955
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.32
    •  
  • 1485 Hilltop Dr Chula Vista, CA 4
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1967
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.40
    •  
  • 431 Sparrow Chula Vista, CA 5
    • 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 1978
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.34
    •  
PROPERTY LISTING DETAILS
Omid Yousofi
1.858.232.5712
Titan Pacific Group Inc
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210006776
Last Updated: 03/16/2021
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