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2349 Paseo Los Gatos Chula Vista, CA 91914

4 Beds 3 Baths 3,047 sqft Built 2003

$819,000

List Price

$3,670

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $268.79
  • 9 Days on Market
  • MLS # : 200051093
  • Updated Date : 11/11/2020 at 22:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,047 sqft
  • Baths : 3 full
Listing Agent

Independence Realty

Listing Agent's Description

Wonderful San Miguel ranch home in a prime location . Just freshened up with new paint, new flooring, crown molding and much more. Four bedrooms and three full bathrooms with the guest bedroom/bathroom downstairs. Large den upstairs for a bonus game/living room. One minute walking distance to park and trails. Come take a look and make this your future home. Please note there are still some finishing touches remaining, including the backyard, and are scheduled for completion soon.

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: San Miguel Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $236k747k

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

Neighborhood: San Miguel Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15523623

* 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
Liberty Elementary School Primary Regular 737 31 9
Eastlake Middle School Middle Regular 1,711 64 9
Eastlake High School High Regular 3,079 106 9

Liberty Elementary School

  • Education Level: Primary
  • # of students: 737
  • # of teachers: 31
9
GreatSchools Rating

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
 

$737,100$900,900$819,000

PURCHASE PRICE

$3,303$4,037$3,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,670
EXPENSES Loan Payment -$3,022
Property Tax -$945
Property Insurance -$104
HOA -$145
Property Management Fees -$129
CASH FLOW
-$675

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.

$819,000

PROJECTED PRICE

$3,670

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.8%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$222,785

INVESTMENT

$222,785

Down Payment
$204,750
Rehab Estimate
$5,750
Closing Costs
$12,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,022

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $204,750
Loan Amount $614,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$19,513

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
  • $3,428

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1003$3,500
$3,500
RENT COMPS ANALYSIS
  • 2349 Paseo Los Gatos Chula Vista, CA 1
    • 4 beds 3 baths ∙ 3,047 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,047 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1887 Gamay Chula Vista, CA 2
    • 5 beds 3 baths ∙ 3,114 Sqft ∙ Built 1989 5 beds 3 baths ∙ 3,114 Sqft ∙ Built 1989
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.00
    •  
  • 516 Bent Trail Dr Chula Vista, CA 3
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2004
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.25
    •  
PROPERTY LISTING DETAILS
Andy Deo
1.619.370.4428
Independence Realty
BESbswy