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1650 Chatsbury St El Cajon, CA 92021

3 Beds 2 Baths 1,580 sqft Built 1977

$575,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $363.92
  • 4 Days on Market
  • MLS # : 210000343
  • Updated Date : 01/07/2021 at 18:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,580 sqft
  • Baths : 2 full
Listing Agent

Keller Williams La Jolla

Listing Agent's Description

Beautiful turn-key home with PAID OFF SOLAR and every upgrade you can imagine! This single level open-concept home features a formal living room with stone fireplace, a large family room, modern kitchen with new cabinets and a master bedroom with an updated en-suite. Enjoy the benefits of new windows, luxury vinyl flooring, artificial turf, new concrete with french drains and shed. There's motorhome parking on the side of the home with 3 spots in the driveway and 2 garage spaces.

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

Zip Code: 92021

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 92021

ZipNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
W. D. Hall Elementary School Primary Regular 482 20 2
Greenfield Middle School Middle Regular 670 28 2
El Capitan High School High Regular 1,649 72 6

W. D. Hall Elementary School

  • Education Level: Primary
  • # of students: 482
  • # of teachers: 20
2
GreatSchools Rating

Greenfield Middle School

  • Education Level: Middle
  • # of students: 670
  • # of teachers: 28
2
GreatSchools Rating

El Capitan High School

  • Education Level: High
  • # of students: 1,649
  • # of teachers: 72
6
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,997
Property Tax -$580
Property Insurance -$67
Property Management Fees -$129
CASH FLOW
$147

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$575,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$67,576

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
  • $3,255

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,925
$2,925
RENT COMPS ANALYSIS
  • 1650 Chatsbury St El Cajon, CA 1
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 13616 Avenida Del Charro El Cajon, CA 2
    • 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 1970
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,925
    • $2.06
    •  
PROPERTY LISTING DETAILS
Patrick Mercer
1.619.846.2083
Keller Williams La Jolla
BESbswy