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114 Sierra Way Chula Vista, CA 91911

3 Beds 2 Baths 1,260 sqft Built 1957

$629,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $499.21
  • 5 Days on Market
  • MLS # : 210007611
  • Updated Date : 03/26/2021 at 20:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker Royal Realty

Listing Agent's Description

This beautiful home sits in the heart of Chula Vista in a prime location near freeway entrances, grocery stores, restaurants and within walking distance from the San Diego Country Club Golf Course. It boasts gorgeous kitchen countertops, newly remodeled bathrooms, and a large backyard for entertaining. This home also has a beautiful pool that makes it a rare find you don't want to miss.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hilltop

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $218k594k

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

Neighborhood: Hilltop

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13762926

* 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
 

$566,100$691,900$629,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$2,185
Property Tax -$596
Property Insurance -$59
Property Management Fees -$129
CASH FLOW
-$768

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.

$629,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,435

INVESTMENT

$172,435

Down Payment
$157,250
Rehab Estimate
$5,750
Closing Costs
$9,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,185

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $157,250
Loan Amount $471,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,818

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
  • $2,092

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,350
$2,350
RENT COMPS ANALYSIS
  • 114 Sierra Way Chula Vista, CA 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 575 Fifield Street Chula Vista, CA 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1965
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.64
    •  
  • 1065 Cuyamaca Ave Chula Vista, CA 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1955
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.68
    •  
PROPERTY LISTING DETAILS
Miguel Aldrete
1.619.578.3811
Coldwell Banker Royal Realty
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210007611
Last Updated: 03/26/2021
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