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1266 Morgan Hill Dr Chula Vista, CA 91913

4 Beds 3 Baths 2,254 sqft Built 2000

INVESTimate

$729,900

List Price

$2,990

$2,740 - $3,240

Rent Est.

$775,154  ( +6.20%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $323.82
  • 41 Days on Market
  • MLS # : 200033498
  • Updated Date : 08/25/2020 at 01:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,254 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Beautiful home in desirable Heritage Community has Many upgrades and features which include, remodeled kitchen with farmer sink, Lazy Susan's corner cabinets, and stainless steel appliances. Hardwood floors, shutters, custom upgraded Master bathroom with Separate bath and shower, dual sinks and walk-in closet. New exterior paint, nice size backyard, stamped concrete with brand new patio cover, perfect for entertaining. Walking distance to Heritage Elementary School, pool and basketball court and park.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Heritage

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650kPrice in $223k652k

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

Neighborhood: Heritage

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $15143167

* 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
Heritage Elementary School Primary Regular 906 35 10
Heritage Elementary School Middle Regular 906 35 10
Otay Ranch High School High Regular 2,640 93 8

Heritage Elementary School

  • Education Level: Primary
  • # of students: 906
  • # of teachers: 35
10
GreatSchools Rating

Heritage Elementary School

  • Education Level: Middle
  • # of students: 906
  • # of teachers: 35
10
GreatSchools Rating

Otay Ranch High School

  • Education Level: High
  • # of students: 2,640
  • # of teachers: 93
8
GreatSchools Rating
 

$656,910$802,890$729,900

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,693
Property Tax -$867
Property Insurance -$84
HOA -$75
Property Management Fees -$129
CASH FLOW
-$857

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.

$729,900

PROJECTED PRICE

$2,990

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.20%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$199,174

INVESTMENT

$199,174

Down Payment
$182,475
Rehab Estimate
$5,750
Closing Costs
$10,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,693

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,475
Loan Amount $547,425
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $3,139

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9903$3,1504$3,2005$3,375
$3,375
RENT COMPS ANALYSIS
  • 1266 Morgan Hill Dr Chula Vista, 2
    • 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.33
    •  
  • 1678 Pember Ave Chula Vista, 1
    • 3 beds 3 baths ∙ 1,966 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,966 Sqft ∙ Built 2010
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.42
    •  
  • 1325 Santa Diana #1 Chula Vista, 3
    • 4 beds 4 baths ∙ 2,342 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,342 Sqft ∙ Built 2016
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.35
    •  
  • 1435 Santa Diana Rd #2 Chula Vista, 4
    • 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2016
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.37
    •  
  • 1482 Oakpoint Chula Vista, 5
    • 3 beds 3 baths ∙ 2,359 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,359 Sqft ∙ Built 2004
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,375
    • $1.43
    •  
PROPERTY LISTING DETAILS
Isela Robles
1.619.300.9111
Compass
BESbswy