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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $383.68
- 3 Days on Market
- MLS # : 210004449
- Updated Date : 02/20/2021 at 19:06
CONSTRUCTION
- Beds : 3
- Floor Size : 1,642 sqft
- Baths : 2 full , 1 half
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
Beautiful renovated home in the highly sought after community of Eastlake Greens! Enjoy fabulous sunsets overlooking the golf course from this recently remodeled home! This home features many tasteful upgrades including wood flooring downstairs, a recently remodeled kitchen and beautiful cabinetry custom paint throughout. Welcome home!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Eastlake Greens
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,610 |
| EXPENSES | Loan Payment | -$2,188 |
| Property Tax | -$669 | |
| Property Insurance | -$69 | |
| HOA | -$85 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$530
|
||
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.
$630,000
PROJECTED PRICE
$2,610
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$172,700
LOAN DETAILS
$2,188
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $157,500 |
| Loan Amount | $472,500 |
2.33
YEARS SAVED
$10,445
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,828
COMP ESTIMATED VALUE -
$1.72
COMP AVG. RENT PER SQFT
Comps Range
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2359 Eastridge Loop Chula Vista, CA 1
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- $2,875
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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
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- Rent Per SQFT
- $2,950
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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
LEASED 09/07/20- Rent
- Rent Per SQFT
- $3,200
- $1.75
PROPERTY LISTING DETAILS
1.619.865.0650
Berkshire Hathaway Homeservice
MLS #: 210004449
Last Updated: 02/20/2021
