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1629 Falling Star Dr Chula Vista, CA 91915

4 Beds 4 Baths 2,400 sqft Built 2005

$749,000

List Price

$3,480

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $312.08
  • 4 Days on Market
  • MLS # : 210001134
  • Updated Date : 01/16/2021 at 17:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,400 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass

Listing Agent's Description

GORGEOUS REMODEL WITH ENORMOUS VIEWS/BIG BACKYARD W/FULL BR/BA DOWNSTAIRS AND FULLY PAID OFF SOLAR!! Upon entering this light/bright home you notice the modern hard surface flooring in common areas, fully remodeled kitchen with enormous island, quartz counter-tops, upgraded appliances. Upstairs has a HUGE loft and oversized master bedroom that also captures great views. Backyard is oversized with two patios and drought tolerant turf.

SEE MORE

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: 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
 

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

PURCHASE PRICE

$3,132$3,828$3,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,480
EXPENSES Loan Payment -$2,602
Property Tax -$889
Property Insurance -$88
HOA -$95
Property Management Fees -$129
CASH FLOW
-$322

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

$3,480

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$32,510

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
  • $3,468

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1503$3,5004$3,5505$3,800
$3,800
RENT COMPS ANALYSIS
  • 1629 Falling Star Dr Chula Vista, CA 1
    • 4 beds 4 baths ∙ 2,400 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,400 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1509 Picket Fence Drive Chula Vista, CA 2
    • 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2004
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.41
    •  
  • 2272 Starshower Chula Vista, CA 3
    • 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2005
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.47
    •  
  • 1397 Indian Creek Place Chula Vista, CA 4
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2000
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.48
    •  
  • 1782 Webber Way Chula Vista, CA 5
    • 5 beds 3 baths ∙ 2,667 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,667 Sqft ∙ Built 2014
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.42
    •  
PROPERTY LISTING DETAILS
Joseph Mcshane
1.858.886.9612
Compass
BESbswy