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1615 Quiet Trail Dr Chula Vista, CA 91915

4 Beds 4 Baths 2,928 sqft Built 2006

$820,000

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $280.05
  • 3 Days on Market
  • MLS # : 210001222
  • Updated Date : 01/15/2021 at 21:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,928 sqft
  • Baths : 4 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Gorgeous move-in ready home that features great curb appeal, a spacious floorplan, beautiful hardwood flooring, recessed lighting, and central A/C. This home has a formal living room, currently being used as an office, and a formal dining room with travertine flooring. The large family room has a fireplace, lots of windows that let in an abundance of natural light, and a separate dining area.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Camarena Enrique S. Elementary School Primary Unknown 1,045 41 NA
Eastlake Middle School Middle Regular 1,711 64 9
Olympian High School High Regular 2,367 83 9

Camarena Enrique S. Elementary School

  • Education Level: Primary
  • # of students: 1,045
  • # of teachers: 41
NA
GreatSchools Rating

Eastlake Middle School

  • Education Level: Middle
  • # of students: 1,711
  • # of teachers: 64
9
GreatSchools Rating

Olympian High School

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

$738,000$902,000$820,000

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$2,848
Property Tax -$973
Property Insurance -$101
HOA -$100
Property Management Fees -$129
CASH FLOW
-$351

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.

$820,000

PROJECTED PRICE

$3,800

PROJECTED RENT

0.46%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$223,050

INVESTMENT

$223,050

Down Payment
$205,000
Rehab Estimate
$5,750
Closing Costs
$12,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,848

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $205,000
Loan Amount $615,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$35,643

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,800

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $3,816

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,8003$4,0004$4,000
$4,000
RENT COMPS ANALYSIS
  • 1615 Quiet Trail Dr Chula Vista, CA 2
    • 4 beds 4 baths ∙ 2,928 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,928 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.30
    •  
  • 2837 Castlewood Ct Chula Vista, CA 1
    • 4 beds 4 baths ∙ 3,012 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,012 Sqft ∙ Built 2005
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.26
    •  
  • 1464 Appalachian Chula Vista, CA 3
    • 5 beds 3 baths ∙ 2,950 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,950 Sqft ∙ Built 2001
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.36
    •  
  • 2792 Rambling Vistas Rd Chula Vista, CA 4
    • 5 beds 4 baths ∙ 3,096 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,096 Sqft ∙ Built 2005
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.29
    •  
PROPERTY LISTING DETAILS
Charles Wheeler
1.267.242.7565
Redfin Corporation
BESbswy