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1208 Neptune Drive Chula Vista, CA 91911

4 Beds 2 Baths 1,502 sqft Built 1960

$549,995

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $366.18
  • 4 Days on Market
  • MLS # : 200054133
  • Updated Date : 12/18/2020 at 00:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,502 sqft
  • Baths : 2 full
Listing Agent

Cal State Realty Services

Listing Agent's Description

HARD TO FIND SINGLE STORY 4 BEDROOM WITH OPEN FLOOR PLAN, 24X13 LIVING ROOM, 18X13 MASTER BEDROOM AND RV PARKING LOCATED IN GREAT QUIET AREA WITH SIDEWALK LINED STREETS! HOME FEATURES , TILE/VINYL PLANK FLOORS, DUAL PANE WINDOWS, NEWER ELECTRICAL PANEL, NEW ABS SEWER LINES (CAST IRON REMOVED) REMODELED BATHROOMS, NEWER AC, NEWER ROOF, TILE SHOWERS, OPTIONAL 5TH BEDROOM, GIANT FULLY FENCED DOUBLE GATED BACK YARD FOR RV PARKING, CEILING FANS IN ALL BEDROOMS, FIREPLACE, LEASED SOLAR AND MUCH MORE!

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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: 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
Palomar Elementary School Primary Regular 389 18 7
Palomar Elementary School Middle Regular 389 18 7
Castle Park High School High Regular 1,474 60 4

Palomar Elementary School

  • Education Level: Primary
  • # of students: 389
  • # of teachers: 18
7
GreatSchools Rating

Palomar Elementary School

  • Education Level: Middle
  • # of students: 389
  • # of teachers: 18
7
GreatSchools Rating

Castle Park High School

  • Education Level: High
  • # of students: 1,474
  • # of teachers: 60
4
GreatSchools Rating
 

$494,996$604,995$549,995

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,029
Property Tax -$521
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$284

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.

$549,995

PROJECTED PRICE

$2,460

PROJECTED RENT

0.45%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,499

INVESTMENT

$151,499

Down Payment
$137,499
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,499
Loan Amount $412,496
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$29,172

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
  • $2,422

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,2004$2,3505$2,850
$2,850
RENT COMPS ANALYSIS
  • 1208 Neptune Drive Chula Vista, CA 1
    • 4 beds 2 baths ∙ 1,502 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,502 Sqft ∙ Built 1960
    • 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
    •  
  • 102 E Orlando St Chula Vista, CA 3
    • 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
    •  
  • 1065 Cuyamaca Ave Chula Vista, CA 4
    • 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
    •  
  • 1580 Melrose Chula Vista, CA 5
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1965
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.68
    •  
PROPERTY LISTING DETAILS
Justin Roberts
1.619.851.1677
Cal State Realty Services
BESbswy