Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1032 Grass Valley Rd Chula Vista, CA 91913

4 Beds 3 Baths 1,803 sqft Built 2000

$749,000

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $415.42
  • 3 Days on Market
  • MLS # : 200054302
  • Updated Date : 12/19/2020 at 03:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,803 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sdpremier

Listing Agent's Description

Former model home features newly upgraded kitchen, new flooring, new custom shutters, walk-in pantry & master closet, low maintenance backyard and central Otay Ranch location. Smart home tech features NEST thermostat, smoke & CO2 detectors, RING doorbell & smart lock on front door and smart garage door opener. Solar, paid in full, and a universal EV charger are a bonus!! You don't want to miss this one! Close to Eastlake's best shops, restaurants, Otay Ranch mall, schools and highways! VA & FHA welcomed!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hillsborough

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $223k594k

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

Neighborhood: Hillsborough

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $15143064

* 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
Corky Mcmillin Elementary School Primary Regular 882 34 8
Corky Mcmillin Elementary School Middle Regular 882 34 8
Olympian High School High Regular 2,367 83 9

Corky Mcmillin Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 34
8
GreatSchools Rating

Corky Mcmillin Elementary School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 34
8
GreatSchools Rating

Olympian High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 83
9
GreatSchools Rating
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$2,763
Property Tax -$889
Property Insurance -$73
HOA -$110
Property Management Fees -$129
CASH FLOW
-$914

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.

$749,000

PROJECTED PRICE

$3,050

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,763

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,986

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
  • $3,250

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9503$3,1504$3,2005$3,400
$3,400
RENT COMPS ANALYSIS
  • 1032 Grass Valley Rd Chula Vista, CA 1
    • 4 beds 3 baths ∙ 1,803 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,803 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1962 Marquis Ct. Chula Vista, CA 2
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1994
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.68
    •  
  • 1343 Caminito Agostino #3 Chula Vista, CA 3
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2014
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.90
    •  
  • 2352 Eastridge Loop Chula Vista, CA 4
    • 4 beds 3 baths ∙ 1,829 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,829 Sqft ∙ Built 1994
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.75
    •  
  • 1939 Parker Mountain Road Chula Vista, CA 5
    • 4 beds 3 baths ∙ 1,811 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,811 Sqft ∙ Built 2004
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.88
    •  
PROPERTY LISTING DETAILS
Ashraf Salim
1.619.300.8004
Sdpremier
BESbswy