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1696 Oconnor Ave Chula Vista, CA 91913

3 Beds 3 Baths 1,966 sqft Built 2009

$636,900

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $323.96
  • 4 Days on Market
  • MLS # : 210001147
  • Updated Date : 01/15/2021 at 03:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,966 sqft
  • Baths : 2 full , 1 half
Listing Agent

Active Realty

Listing Agent's Description

Beautiful 3 bedroom, 2.5 bathroom, 2 story home in the community of Montecito in Otay Ranch! Enjoy a gated, private courtyard entry to the spacious family room with hardwood floors and a stone fireplace. The open kitchen offers granite countertops, stainless steel appliances, and elegant wood cabinetry. The primary bedroom features ample closet space, dual sinks in the primary bathroom, a soaking tub, and walk-in shower. Additional property highlights include the private balcony and 2 car garage.

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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
Wolf Canyon Elementary School Primary Regular 747 32 9
Wolf Canyon Elementary School Middle Regular 747 32 9
Olympian High School High Regular 2,367 83 9

Wolf Canyon Elementary School

  • Education Level: Primary
  • # of students: 747
  • # of teachers: 32
9
GreatSchools Rating

Wolf Canyon Elementary School

  • Education Level: Middle
  • # of students: 747
  • # of teachers: 32
9
GreatSchools Rating

Olympian High School

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

$573,210$700,590$636,900

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,212
Property Tax -$756
Property Insurance -$77
HOA -$63
Property Management Fees -$129
CASH FLOW
-$367

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.

$636,900

PROJECTED PRICE

$2,870

PROJECTED RENT

0.45%

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

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$174,529

INVESTMENT

$174,529

Down Payment
$159,225
Rehab Estimate
$5,750
Closing Costs
$9,554

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,225
Loan Amount $477,675
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$20,664

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 1696 Oconnor Ave Chula Vista, CA
    • 3 beds 3 baths ∙ 1,966 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,966 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Justin Tye
1.619.333.2721
Active Realty
BESbswy