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2259 Poppy Hills Dr Chula Vista, CA 91915

4 Beds 3 Baths 1,911 sqft Built 2000

$725,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $379.38
  • 5 Days on Market
  • MLS # : 210002233
  • Updated Date : 01/29/2021 at 19:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,911 sqft
  • Baths : 2 full , 1 half
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

Welcome to Eastlake Greens! Lovely spacious 4-bedroom home on a quiet street, blocks from the Eastlake Country Club. Inviting family room with gas fireplace. Modern kitchen with stainless steel appliances and white cabinetry. Custom paint, laminate flooring and tile throughout the home. All four bedrooms and laundry room are upstairs, plus additional loft. Central heat & A/C. Ceiling fans in every room. 2-car garage with two additional driveway spaces. HOA includes access to community rec centers.

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: Eastlake Greens

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $236k746k

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

Neighborhood: Eastlake Greens

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
Eastlake Middle School Middle Regular 1,711 64 9
Eastlake High School High Regular 3,079 106 9

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
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,518
Property Tax -$837
Property Insurance -$75
HOA -$85
Property Management Fees -$129
CASH FLOW
-$694

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.

$725,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.0%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,797

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
  • $2,948

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7503$2,8004$3,1005$3,200
$3,200
RENT COMPS ANALYSIS
  • 2259 Poppy Hills Dr Chula Vista, CA 1
    • 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1730 Cripple Creek Drive #2 Chula Vista, CA 2
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2008
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.59
    •  
  • 1937 Caminito De La Cruz Chula Vista, CA 3
    • 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 2005
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.54
    •  
  • 1586 Moonbeam Chula Vista, CA 4
    • 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.49
    •  
  • 1622 Falling Star Dr Chula Vista, CA 5
    • 4 beds 3 baths ∙ 2,061 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,061 Sqft ∙ Built 2005
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.55
    •  
PROPERTY LISTING DETAILS
Sean Cartlidge
1.619.865.4556
Big Block Realty, Inc.
BESbswy