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2328 Porch Swing St Chula Vista, CA 91915

3 Beds 3 Baths 2,284 sqft Built 2004

INVESTimate

$675,000

List Price

$3,020

$2,770 - $3,270

Rent Est.

$719,213  ( +6.55%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $295.53
  • 9 Days on Market
  • MLS # : 200039951
  • Updated Date : 08/22/2020 at 19:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,284 sqft
  • Baths : 2 full , 1 half
Listing Agent

Active Realty

Listing Agent's Description

Welcome to your move-in ready home situated in the heart of Otay Ranch. This 2-story, 3 bedroom, 2.5 bath with loft upstairs & optional bedroom downstairs offers 2,284sf of amazing space. Featuring a large family & dining room with an additional living room that opens to a large kitchen with a spacious island and built in desk. Situated on a corner lot with plush landscape, 2 car garage and located in the desired Winding Walk community. Easy access to CA-125, parks and walking distance to Otay Ranch Mall.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

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
Camarena Enrique S. Elementary School Primary Unknown 1,045 41 NA
Eastlake Middle School Middle Regular 1,711 64 9
Olympian High School High Regular 2,367 83 9

Camarena Enrique S. Elementary School

  • Education Level: Primary
  • # of students: 1,045
  • # of teachers: 41
NA
GreatSchools Rating

Eastlake Middle School

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

Olympian High School

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

$607,500$742,500$675,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,490
Property Tax -$801
Property Insurance -$85
HOA -$100
Property Management Fees -$129
CASH FLOW
-$585

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.

$675,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.55%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,317

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
  • $3,289

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1503$3,3004$3,5005$3,550
$3,550
RENT COMPS ANALYSIS
  • 2328 Porch Swing St Chula Vista, 1
    • 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1509 Picket Fence Drive Chula Vista, 2
    • 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2004
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.41
    •  
  • 2631 Noble Canyon Rd. Chula Vista, 3
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2002
    LEASED 06/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.40
    •  
  • 2272 Starshower Chula Vista, 4
    • 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2005
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.47
    •  
  • 1397 Indian Creek Place Chula Vista, 5
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2000
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.48
    •  
PROPERTY LISTING DETAILS
Zandra Ulloa
1.619.736.8008
Active Realty
BESbswy