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2060 Crosscreek Rd Chula Vista, CA 91913

4 Beds 3 Baths 1,697 sqft Built 1989

$729,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $429.58
  • 2 Days on Market
  • MLS # : 210003268
  • Updated Date : 02/06/2021 at 20:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,697 sqft
  • Baths : 2 full , 1 half
Listing Agent

Eastlake Realty

Listing Agent's Description

Beautiful home in the heart of Eastlake. Located in a family friendly neighborhood. Modern, tasteful upgrades throughout. Low HOA and No Melo-Roos. Thank you for showing. This home won't last long.

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

Neighborhood: Eastlake

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $203k594k

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

Neighborhood: Eastlake

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001700180019002000210022002300240025002600270028002900Rent in $15142959

* 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
Eastlake Middle School Middle Regular 1,711 64 9
Eastlake High School High Regular 3,079 106 9
Bonita Vista Middle School Middle Unknown NA

Eastlake Middle School

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

Eastlake High School

  • Education Level: High
  • # of students: 3,079
  • # of teachers: 106
9
GreatSchools Rating

Bonita Vista Middle School

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

$656,100$801,900$729,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$2,532
Property Tax -$681
Property Insurance -$70
HOA -$91
Property Management Fees -$129
CASH FLOW
-$543

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$729,000

PROJECTED PRICE

$2,960

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,532

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$17,968

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
  • $2,953

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8503$2,8754$2,9505$3,200
$3,200
RENT COMPS ANALYSIS
  • 2060 Crosscreek Rd Chula Vista, CA 1
    • 4 beds 3 baths ∙ 1,697 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,697 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1331 Caminito Fabrizio #67 Chula Vista, CA 2
    • 3 beds 4 baths ∙ 1,558 Sqft ∙ Built 2005 3 beds 4 baths ∙ 1,558 Sqft ∙ Built 2005
    property image
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.83
    •  
  • 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
    •  
  • 1962 Marquis Ct. Chula Vista, CA 4
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1994
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.68
    •  
  • 2352 Eastridge Loop Chula Vista, CA 5
    • 4 beds 3 baths ∙ 1,829 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,829 Sqft ∙ Built 1994
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.75
    •  
PROPERTY LISTING DETAILS
Donald Molton
1.619.869.5925
Eastlake Realty
BESbswy