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1339 Santa Elisabeth Ave Chula Vista, CA 91913

3 Beds 3 Baths 1,511 sqft Built 2004

$549,900

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $363.93
  • 4 Days on Market
  • MLS # : 200050847
  • Updated Date : 11/06/2020 at 17:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,511 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Imagine spending time in this stunning home nestled in the best neighborhood! Prep meals in the newly updated bright and spacious kitchen, featuring generous storage, new quartz countertops, and stainless steel appliances. Entertain in the freshly painted great room with new luxury vinyl plank flooring. Take advantage of California's indoor/outdoor experience with an oversized, stamped concrete private yard, perfect for a grill and al fresco dining. Then spend the day at the Hillsborough Swim Club!

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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: Otay Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $236k746k

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

Neighborhood: Otay Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15523384

* 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
Veterans Elementary School Primary Regular 890 37 9
Veterans Elementary School Middle Regular 890 37 9
Olympian High School High Regular 2,367 83 9

Veterans Elementary School

  • Education Level: Primary
  • # of students: 890
  • # of teachers: 37
9
GreatSchools Rating

Veterans Elementary School

  • Education Level: Middle
  • # of students: 890
  • # of teachers: 37
9
GreatSchools Rating

Olympian High School

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

$494,910$604,890$549,900

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$2,029
Property Tax -$636
Property Insurance -$65
HOA -$47
Property Management Fees -$129
CASH FLOW
-$66

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$549,900

PROJECTED PRICE

$2,840

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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$30k

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$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% 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 $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$49,157

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
  • $2,833

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5503$2,6004$2,6005$3,150
$3,150
RENT COMPS ANALYSIS
  • 1339 Santa Elisabeth Ave Chula Vista, CA 1
    • 3 beds 3 baths ∙ 1,511 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,511 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1863 Opaline Pl #522 Chula Vista, CA 2
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2005
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.80
    •  
  • 1460 Canvas Drive #5 Chula Vista, CA 3
    • 3 beds 3 baths ∙ 1,372 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,372 Sqft ∙ Built 2007
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.90
    •  
  • 1434 Claude Lane #5 Chula Vista, CA 4
    • 3 beds 3 baths ∙ 1,372 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,372 Sqft ∙ Built 2011
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.90
    •  
  • 1343 Caminito Agostino #3 Chula Vista, CA 5
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2014
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.90
    •  
PROPERTY LISTING DETAILS
Alanna Strei
1.619.889.2466
Exp Realty Of California Inc
BESbswy