Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1803 Gotham St Chula Vista, CA 91913

3 Beds 2 Baths 1,427 sqft Built 1971

$650,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $455.50
  • 5 Days on Market
  • MLS # : 210007572
  • Updated Date : 03/24/2021 at 20:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,427 sqft
  • Baths : 2 full
Listing Agent

Select Premier Properties

Listing Agent's Description

Beautiful 3 Bed/ 2 Bath/ Single Family Home Located in Chula Vista. This home is located in the corner of the street. The backyard features an Outdoor Gazebo with Lighting, Plumbing, Outlets, Cable TV Connection, Propane Stove, BBQ Grill, Sink, Water Connection, with a Flat Top Grill. Lounge in the back around the fire pit, create your own dishes with your own Wood Fire Pizza Oven. Pick some fresh fruit from the Lemon, Nectarine, and Berry Trees. The Pool has a Solar Blanket keeping the water warm & has a heater that needs to be connected & a Storage Shed. The Trees and eves of the home has electrical for Christmas lights. The Kitchen features a kitchen window that open to a bar top to entertain guests, newer stove, microwave, hardwood cabinets, tile countertops, two lazy Susan's for your spices. In the interior featuring a Whole House Fan, AC/Dual Pane Windows, All Closets have Recessed Lighting, and Ceiling Fans. Come check it out!

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: East Chula Vista

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $236k746k

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

Neighborhood: East Chula Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15373384

* 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
Bonita Vista Middle School Middle Regular 1,209 48 6
Bonita Vista High School High Regular 2,487 88 8
Bonita Vista Middle School Middle Unknown NA

Bonita Vista Middle School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 48
6
GreatSchools Rating

Bonita Vista High School

  • Education Level: High
  • # of students: 2,487
  • # of teachers: 88
8
GreatSchools Rating

Bonita Vista Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$2,258
Property Tax -$614
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
-$394

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.

$650,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.9%
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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$20,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $2,619

    COMP ESTIMATED VALUE
  • $1.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,6703$2,875
$2,875
RENT COMPS ANALYSIS
  • 1803 Gotham St Chula Vista, CA 2
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $1.87
    •  
  • 743 Brookstone Rd #103 Chula Vista, CA 1
    • 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1989
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.97
    •  
  • 1192 La Vida Court Chula Vista, CA 3
    • 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 1989
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $1.70
    •  
PROPERTY LISTING DETAILS
Victoria Sandoval
1.619.392.2455
Select Premier Properties
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210007572
Last Updated: 03/24/2021
BESbswy