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1345 Lucero Ct Chula Vista, CA 91911

4 Beds 3 Baths 2,149 sqft Built 2000

$775,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $360.63
  • 13 Days on Market
  • MLS # : 210005217
  • Updated Date : 03/05/2021 at 21:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,149 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc.

Listing Agent's Description

Immaculate home with owned solar on a quiet cul-de-sac! ***The heart of the home is the open kitchen and family room with fireplace and mantle. ***Eat-in kitchen with pantry, stainless steel appliances, and large glass sliders leading to the back patio. ***Entertain family and friends in the backyard with low maintenance landscaping including mature fruit trees, a pergola covered outdoor kitchen with bar seating, stamped concrete patio, and grassy area for play. ***Master retreat with vaulted ceilings, a huge 15’x15’ balcony, and ensuite bath. ***Spacious secondary bedrooms and full second bathroom upstairs. ***Laundry room with storage on the first floor. ***A wall of built-in cabinets in the attached garage. ***150’ addition to the living room and new powder room, new water heater. ***Conveniently located, minutes to major shopping, dining, and several freeways. ***No HOA!

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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: Sunbowl

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $236k746k

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

Neighborhood: Sunbowl

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
Rancho Del Rey Middle School Middle Regular 1,628 63 7
Otay Ranch High School High Regular 2,640 93 8

Rancho Del Rey Middle School

  • Education Level: Middle
  • # of students: 1,628
  • # of teachers: 63
7
GreatSchools Rating

Otay Ranch High School

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

$697,500$852,500$775,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,692
Property Tax -$904
Property Insurance -$81
Property Management Fees -$129
CASH FLOW
-$726

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.

$775,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.9%
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$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$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,692

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$9,359

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
  • $3,216

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9003$3,0004$3,300
$3,300
RENT COMPS ANALYSIS
  • 1345 Lucero Ct Chula Vista, CA 1
    • 4 beds 3 baths ∙ 2,149 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,149 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1475 Egret Street #5 Chula Vista, CA 2
    • 4 beds 4 baths ∙ 1,928 Sqft ∙ Built 2016 4 beds 4 baths ∙ 1,928 Sqft ∙ Built 2016
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.50
    •  
  • 1028 E J St Chula Vista, CA 3
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1996
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.58
    •  
  • 1136 Cloudwalk Canyon Dr. Chula Vista, CA 4
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1989
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.41
    •  
PROPERTY LISTING DETAILS
Daniel Beer
1.858.755.1999
Exp Realty Of California Inc.
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210005217
Last Updated: 03/05/2021
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