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1526 Welch Pl Chula Vista, CA 91911

4 Beds 3 Baths 2,728 sqft Built 2004

$749,000

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $274.56
  • 5 Days on Market
  • MLS # : 200050261
  • Updated Date : 11/02/2020 at 20:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,728 sqft
  • Baths : 2 full , 1 half
Listing Agent

Golden Leaf Realty

Listing Agent's Description

PRIME LOCATION! Canyon view backyard with no neighbors behind. Spacious,well-maintained home located in the highly desirable Sunbow community. No HOA, No carpet, upgraded wood & tile flooring throughout. leased solar, 4 bedrooms with walk-in closets, 2.5 baths, island kitchen, extensive cabinets, fireplace, cul de sac, 3 car garage, huge back yard with artificial turf and fruit trees. Excellent location near schools, shops and restaurants. Easy access to 805 fwy via HOV lane off East Palomar Street.

SEE MORE

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: 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
Anne And William Hendenkamp Elementary School Primary Regular 1,097 43 8
Anne And William Hendenkamp Elementary School Middle Regular 1,097 43 8
Otay Ranch High School High Regular 2,640 93 8

Anne And William Hendenkamp Elementary School

  • Education Level: Primary
  • # of students: 1,097
  • # of teachers: 43
8
GreatSchools Rating

Anne And William Hendenkamp Elementary School

  • Education Level: Middle
  • # of students: 1,097
  • # of teachers: 43
8
GreatSchools Rating

Otay Ranch High School

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

$674,100$823,900$749,000

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$2,763
Property Tax -$892
Property Insurance -$96
Property Management Fees -$129
CASH FLOW
-$710

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.

$749,000

PROJECTED PRICE

$3,170

PROJECTED RENT

0.42%

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$25k

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$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,763

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$12,921

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,170

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $3,471

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$3,170
1$3,1702$3,3303$3,4004$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 1526 Welch Pl Chula Vista, CA 1
    • 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $1.16
    •  
  • 749 De La Toba Rd Chula Vista, CA 2
    • 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2002
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,330
    • $1.22
    •  
  • 1584 Ortega Chula Vista, CA 3
    • 5 beds 4 baths ∙ 2,653 Sqft ∙ Built 2012 5 beds 4 baths ∙ 2,653 Sqft ∙ Built 2012
    LEASED 06/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.28
    •  
  • 1120 Sparrow Lake Rd Chula Vista, CA 4
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2003
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.24
    •  
  • 1312 Keck Rd. Chula Vista, CA 5
    • 4 beds 4 baths ∙ 2,594 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,594 Sqft ∙ Built 2018
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.35
    •  
PROPERTY LISTING DETAILS
Wendy Chou
1.619.743.6085
Golden Leaf Realty
BESbswy