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209 L St Chula Vista, CA 91911

3 Beds 2 Baths 1,196 sqft Built 1956

$569,900

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $476.51
  • 2 Days on Market
  • MLS # : 200052324
  • Updated Date : 11/21/2020 at 11:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,196 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Beautiful 3 bedroom/ 2 bath single story home with new carpeting, interior paint and a well manicured spacious backyard. Near various restaurants, shopping plaza, schools, parks and freeways.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Downtown Chula Vista

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $181k594k

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

Neighborhood: Downtown Chula Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $11952926

* 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
Hilltop Drive Elementary School Primary Regular 574 24 7
Hilltop Drive Elementary School Middle Regular 574 24 7
Hilltop High School High Magnet 2,174 80 7

Hilltop Drive Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 24
7
GreatSchools Rating

Hilltop Drive Elementary School

  • Education Level: Middle
  • # of students: 574
  • # of teachers: 24
7
GreatSchools Rating

Hilltop High School

  • Education Level: High
  • # of students: 2,174
  • # of teachers: 80
7
GreatSchools Rating
 

$512,910$626,890$569,900

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$2,103
Property Tax -$540
Property Insurance -$57
Property Management Fees -$129
CASH FLOW
-$618

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.

$569,900

PROJECTED PRICE

$2,210

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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$156,774

INVESTMENT

$156,774

Down Payment
$142,475
Rehab Estimate
$5,750
Closing Costs
$8,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,475
Loan Amount $427,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,133

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
  • 209 L St Chula Vista, CA
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Jewell Buenavista
1.619.948.8768
Berkshire Hathaway Homeservice
BESbswy