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1428 Belmont Pl Chula Vista, CA 91913

3 Beds 3 Baths 1,598 sqft Built 2003

$670,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $419.27
  • 4 Days on Market
  • MLS # : 210003750
  • Updated Date : 02/12/2021 at 06:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,598 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker West

Listing Agent's Description

This beautifully upgraded 3 bed/2.5 bath home is on a cul-de-sac and is minutes from Heritage Park, Otay Ranch Mall, and the new MTS stop. This home boasts one of the largest lots in the community with lush landscaping in the fully fenced front yard and a backyard that offers plenty of outdoor space to BBQ & entertain guests. Bright & open floorplan features travertine floors, crown molding, granite countertops, SS appliances, a gas fireplace, recessed lighting, & beautiful accent panel walls throughout.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
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
 

$603,000$737,000$670,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$2,327
Property Tax -$795
Property Insurance -$67
HOA -$80
Property Management Fees -$129
CASH FLOW
-$759

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.

$670,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.39%

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,300

INVESTMENT

$183,300

Down Payment
$167,500
Rehab Estimate
$5,750
Closing Costs
$10,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,327

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,500
Loan Amount $502,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,987

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
  • $2,709

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7003$2,9504$2,9955$3,000
$3,000
RENT COMPS ANALYSIS
  • 1428 Belmont Pl Chula Vista, CA 1
    • 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1524 San Borja St #2 Chula Vista, CA 2
    • 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2013
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.70
    •  
  • 1244 Calistoga Ave Chula Vista, CA 3
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2000
    property image
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.64
    •  
  • 1306 Santa Victoria Chula Vista, CA 4
    • 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 2018
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.72
    •  
  • 1305 Keck Road 1305 Keck Road Chula Vista, CA 5
    • 3 beds 3 baths ∙ 1,743 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,743 Sqft ∙ Built 2017
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.72
    •  
PROPERTY LISTING DETAILS
Luke Wasyliw
1.619.454.0787
Coldwell Banker West
BESbswy