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1587 Hillsborough St Chula Vista, CA 91913

4 Beds 4 Baths 2,875 sqft Built 2005

$799,000

List Price

$3,440

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $277.91
  • 7 Days on Market
  • MLS # : 200054395
  • Updated Date : 12/25/2020 at 18:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,875 sqft
  • Baths : 3 full , 1 half
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

RARE FIND!! Don’t Let This Property Pass You By! Attached Casita w/Kitchenette, full bath, Private Entrance! Paid-In-Full Solar Panels! Crown Molding. Hardwood Floors. Formal Living/Dining Area. Separate Family Rm that opens up to kitchen w/granite countertops/stainless steel appliances. Lots of window & natural light throughout. Upstairs Laundry Rm. Double Door Entry into Large Master Suite w/bonus area, 2 walk-in closets, jacuzzi tub/separate shower. Big backyard w/an array of exotic Asian Fruit Trees.

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: 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
 

$719,100$878,900$799,000

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$2,948
Property Tax -$949
Property Insurance -$99
HOA -$45
Property Management Fees -$129
CASH FLOW
-$730

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.

$799,000

PROJECTED PRICE

$3,440

PROJECTED RENT

0.43%

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$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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$14,928

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
  • $3,584

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4003$3,5004$3,700
$3,700
RENT COMPS ANALYSIS
  • 1587 Hillsborough St Chula Vista, CA 1
    • 4 beds 4 baths ∙ 2,875 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,875 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1120 Sparrow Lake Rd Chula Vista, CA 2
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2003
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.24
    •  
  • 1312 Keck Rd. Chula Vista, CA 3
    • 4 beds 4 baths ∙ 2,594 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,594 Sqft ∙ Built 2018
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.35
    •  
  • 1746 Vendola Dr. Chula Vista, CA 4
    • 5 beds 4 baths ∙ 3,213 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,213 Sqft ∙ Built 2004
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.15
    •  
PROPERTY LISTING DETAILS
Cherise Nelson-turner
1.619.889.7773
Big Block Realty, Inc.
BESbswy