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2387 Forest Meadow Ct Chula Vista, CA 91915

3 Beds 3 Baths 2,178 sqft Built 2000

$730,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $335.17
  • 3 Days on Market
  • MLS # : 200052297
  • Updated Date : 11/21/2020 at 20:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,178 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Gorgeous Golf Course home shows like a model home! Enjoy spectacular views of the coveted 13th hole & mountains from your backyard and master suite patios. This highly upgraded home features a spacious, open floor plan with large windows and vaulted ceiling in family room that bask the interior in natural light and views. Downstairs office or upstairs large loft could easily be converted to additional bedrooms. Large master retreat features a private patio, two walk-in closets. See full list of upgrades!

SEE MORE

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: 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
Olympic View Elementary School Primary Regular 833 32 8
Eastlake Middle School Middle Regular 1,711 64 9
Eastlake High School High Regular 3,079 106 9

Olympic View Elementary School

  • Education Level: Primary
  • # of students: 833
  • # of teachers: 32
8
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
 

$657,000$803,000$730,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$2,693
Property Tax -$843
Property Insurance -$82
HOA -$90
Property Management Fees -$129
CASH FLOW
-$917

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.

$730,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.40%

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

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$199,200

INVESTMENT

$199,200

Down Payment
$182,500
Rehab Estimate
$5,750
Closing Costs
$10,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,693

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,500
Loan Amount $547,500
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,361

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
  • $3,229

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1003$3,1504$3,2005$3,550
$3,550
RENT COMPS ANALYSIS
  • 2387 Forest Meadow Ct Chula Vista, CA 1
    • 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1586 Moonbeam Chula Vista, CA 2
    • 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.49
    •  
  • 1509 Picket Fence Drive Chula Vista, CA 3
    • 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2004
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.41
    •  
  • 1622 Falling Star Dr Chula Vista, CA 4
    • 4 beds 3 baths ∙ 2,061 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,061 Sqft ∙ Built 2005
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.55
    •  
  • 1397 Indian Creek Place Chula Vista, CA 5
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2000
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.48
    •  
PROPERTY LISTING DETAILS
Gina Schnell
1.619.865.0650
Berkshire Hathaway Homeservice
BESbswy